Electrical Procurement Specialist

2 weeks ago

Mumbai, Maharashtra, India Sygnific Services Full time

Job Summary

We are seeking a dynamic and experienced Procurement/Purchase Executive to oversee and optimize the procurement process for our electrical product manufacturing operations. The ideal candidate will be responsible for ensuring timely and cost-effective acquisition of materials, spare parts, and supplies.

Key Responsibilities

  • Supplier Management
    • Identify, evaluate, and build strong relationships with suppliers for raw materials, components, spare parts, and other supplies related to heat treatment.
    • Negotiate terms and conditions with suppliers to secure advantageous agreements, including pricing, delivery schedules, and payment terms.
    • Regularize onboarding new vendors in the vendor repository in frequent intervals to expand our vendor database.
  • Procurement Strategy
    • Develop and implement procurement strategies that align with the company's objectives, ensuring a reliable and cost-effective supply chain.
    • Collaborate with cross-functional teams to understand material requirements and forecast demand accurately.
  • Vendor Evaluation
    • Conduct thorough assessments of potential vendors, considering factors such as quality, reliability, and stability.
    • Monitor and evaluate vendor performance, implementing improvements or changes as necessary.
  • Cost Management
    • Continuously analyze market trends, pricing, and sourcing options to identify cost-saving opportunities without compromising quality.
    • Manage and control procurement budgets effectively.
  • Inventory Management
    • Work closely with the inventory assistant to optimize stock levels, ensuring timely availability of materials while minimizing excess inventory.
  • Compliance and Documentation
    • Ensure compliance with company policies, industry regulations, and ethical standards in all procurement activities.
    • Maintain accurate and up-to-date documentation related to procurement processes.
  • Collaboration and Communication
    • Collaborate with internal departments, such as production, sales, and finance, to understand their procurement needs and priorities.
    • Communicate effectively with respective stakeholders, keeping them informed about procurement activities, challenges, and opportunities.
  • Record Maintenance
    • Maintain accurate and organized records of all procurement activities, including purchase orders, contracts, and vendor agreements.
    • Implement a systematic filing system to ensure easy retrieval of documents for audits or reference.
  • Regular Reporting
    • Generate regular reports summarizing key procurement metrics, such as cost savings, supplier performance, and inventory levels.
    • Provide timely and comprehensive updates to the management team, highlighting procurement achievements, challenges, and opportunities for improvement.

Qualifications and Experience

We require a Bachelor's degree in Business, Supply Chain Management, or a related field. An engineering background is preferred. The ideal candidate will have 23 years of proven experience as a Procurement or Purchase Executive in electrical product manufacturing, with excellent technical knowledge of supplies/raw materials used in heat treatment.

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