Purchase Executive

2 months ago

JP Nagar Bengaluru Karnataka, India Dice and DOTS Full time

**Job Title**: Procurement Executive

**Location**: Bangalore (Work from Office)
**Experience**: 2-3 Years
**Salary**: ₹3 Lakhs per annum Plus Performance based Incentives
**Company**: Dicedots - A Leading Textbook Distribution Company

**Job Overview**:
**Key Responsibilities**:1. **Vendor Management and Negotiations**:

- **Identify and Evaluate Vendors**: Actively search for and evaluate new vendors to expand the company’s supply chain network and ensure competitive pricing.
- **Negotiate Contracts**: Build and maintain strong relationships with vendors and negotiate prices, payment terms, and delivery schedules to optimize costs and improve profit margins.
- **Supplier Performance Evaluation**: Regularly assess vendor performance based on price competitiveness, quality, and reliability. Implement corrective actions with underperforming vendors as needed.

2. **Quotation Management**:

- **Generate and Manage Quotes**: Collaborate with the sales team and customer account managers to create accurate and competitive quotes based on customer inquiries. Ensure that quotes meet both customer expectations and margin targets.
- **Price Optimization**: Ensure all quotations include competitive pricing and factor in procurement costs, taxes, and other associated fees to maintain profitability.
- **Approval Process**: Liaise with internal teams to get the necessary approvals for large or high-value quotes, ensuring alignment with company policies.

3. **Order Processing and Fulfillment**:

- **Process Purchase Orders**: Manage the end-to-end order process, from the time a purchase order is received until the goods are delivered to the customer.
- **Coordinate with Vendors**: Ensure timely communication with vendors for order placements, confirmations, and tracking to avoid delays or errors.
- **Logistics Coordination**: Collaborate with logistics providers to ensure seamless and timely delivery of goods to customers. Proactively address any logístical issues that could impact timelines or costs.
- **Ensure Margin Targets**: Constantly monitor the cost of procurement versus the sale price to ensure the company’s profit margins are upheld throughout the process.

4. **Inventory and Stock Management**:

- **Inventory Control**: Work closely with the warehouse team to maintain optimal stock levels and avoid overstocking or stockouts.
- **Replenishment Planning**: Monitor inventory trends and predict stock needs based on sales forecasts and historical data, ensuring stock availability without excessive inventory holding costs.
- **Reduce Wastage**: Implement measures to minimize excess inventory and wastage, optimizing stock turnover rates.

5. **Cost and Margin Control**:

- **Maintain Profit Margins**: Continuously review procurement costs, identify opportunities for savings, and make recommendations to management on improving margins.
- **Cost Analysis**: Conduct thorough cost analysis for each order, factoring in direct and indirect costs, and ensure all procurement activities contribute positively to the company's profitability.
- **Vendor Discount Programs**: Identify opportunities for bulk discounts, loyalty programs, or other vendor incentives to reduce overall costs.

6. **Cross-Functional Collaboration**:

- **Work with Sales and Customer Account Teams**: Ensure seamless coordination with the sales and customer account management teams to align procurement activities with customer requirements and business goals.
- **Support Finance and Accounts**: Collaborate with the finance team to ensure timely processing of purchase orders, invoices, and payments. Help reconcile any discrepancies between procurement and financial records.

7. **Documentation and Compliance**:

- **Maintain Accurate Records**: Ensure all procurement-related documentation (purchase orders, invoices, delivery notes) is accurate, up-to-date, and properly filed for audit purposes.
- **Compliance Management**: Ensure that all procurement activities comply with internal policies, industry regulations, and legal requirements.

8. **Continuous Improvement**:

- **Process Optimization**: Continuously assess and improve procurement processes to increase efficiency, reduce costs, and improve delivery timelines.
- **Stay Updated**: Keep abreast of market trends, pricing changes, and new suppliers to provide Dicedots with competitive advantages in procurement.

**Qualifications and Skills**:

- **Educational Background**: Bachelor’s degree in Supply Chain Management, Business Administration, or related field.
- **Experience**: 2-3 years of experience in procurement, supply chain management, or purchasing, preferably within a distribution or retail environment.
- **Skills**:

- Strong negotiation skills with a proven ability to secure favorable terms.
- Solid understanding of procurement processes, vendor management, and order fulfillment.
- Excellent communication and collaboration skills for cross-functional coordination.
- Proficiency in Mi

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