Purchase Executive/Manager

Job Description

Roles & Responsibilities:

1. Supplier Management and Selection

- Identify and Evaluate Suppliers: Research and identify potential suppliers of raw materials, components, or finished products that meet the company's needs in terms of quality, price, and reliability.
- Negotiate Terms and Conditions: Negotiate prices, terms of sale, delivery schedules, payment terms, and service levels to ensure favorable conditions for the organization.
- Supplier Audits: Ensure that suppliers comply with industry regulations, certifications (e.g., ISO, FDA), and internal quality standards by performing or coordinating supplier audits.

2. Procurement Planning and Strategy

- Develop Procurement Plans: Create and manage procurement strategies to ensure a steady supply of high-quality materials and products that align with the company's production schedules and sales forecasts.
- Inventory Management: Monitor stock levels, forecast demand, and avoid overstocking or understocking to ensure continuous production.
- Cost Optimization: Look for opportunities to reduce procurement costs while maintaining or improving the quality of materials.

3. Compliance with Regulatory Standards

- Regulatory Knowledge: Ensure that all purchased materials comply with relevant regulations, such as FDA standards, CE marking, or other regulatory requirements specific to the MedTech industry.
- Documentation and Reporting: Maintain accurate records of all transactions, including purchase orders, contracts, and supplier certifications, to ensure traceability and compliance during audits.

4. Quality Assurance and Control

- Quality Check: Ensure that all purchased materials and components meet the required quality standards and specifications for MedTech products.
- Collaboration with Quality Control Teams: Work closely with the quality control team to resolve any issues with product quality or supplier performance.
- Incoming Inspection: Organize incoming inspections and testing to verify that materials meet predefined quality criteria.

5. Budget Management and Cost Control

- Budget Planning: Develop and manage the procurement budget to ensure cost-effective purchasing while aligning with financial constraints.
- Cost Control: Monitor costs and implement cost-saving initiatives without compromising quality or regulatory compliance.

6. Supplier Relationship Management

- Build Long-Term Relationships: Cultivate and maintain positive relationships with key suppliers to ensure smooth and efficient operations.
- Manage Disputes: Address and resolve any supplier disputes or issues in a timely and professional manner to minimize disruptions to production.

7. Logistics and Supply Chain Coordination

- Order Fulfillment: Oversee the process of order fulfillment, from placing orders to ensuring the timely delivery of materials.
- Supply Chain Coordination: Coordinate with other departments such as logistics, production, and R&D to ensure the flow of materials aligns with production timelines.
- Risk Management: Develop strategies to mitigate risks associated with supply chain disruptions, such as delays, price fluctuations, or shortages.

8. Data Management and Reporting

- Track Purchases: Maintain an accurate and up-to-date database of all purchase orders, supplier performance, and inventory levels.
- Reporting: Prepare regular reports on purchasing activities, cost analysis, and inventory status for senior management.

9. Cross-Functional Collaboration

- Collaboration with R&D: Work closely with the Research and Development (R&D) teams to understand new product requirements and source materials that meet those needs.
- Collaborate with Finance: Work with the finance team to ensure that budgets are adhered to, payments are processed on time, and financial controls are in place.

10. Continuous Improvement

- Process Optimization: Continuously seek ways to improve purchasing processes, reduce lead times, and enhance the efficiency of procurement operations.
- Technology Adoption: Stay updated with the latest procurement technologies, tools, and trends to enhance purchasing efficiency, such as e-procurement systems or supplier management software.