Purchasing Specialist
2 days ago
The role of the Purchasing Specialist for Pharmaceuticals involves overseeing the procurement and inventory management of all medicines, surgical consumables, and pharmaceutical supplies. This ensures timely availability at optimum cost, adherence to regulatory compliance, and strong coordination with vendors, consultants, and internal departments.
- Procurement & Vendor Management:
- IDentify, evaluate, and finalize vendors for pharmaceutical products and consumables.
- Negotiate pricing, credit terms, and supply agreements to ensure cost-effectiveness.
- Build and maintain long-term relationships with suppliers and distributors.
- Ensure uninterrupted supply of drugs, including critical and life-saving medicines.
Inventory & Supply Chain Management:
- Oversee purchase planning based on consumption trends and stock requirements.
- Monitor stock levels to prevent shortages or overstocking.
- Implement systems for efficient inventory tracking and control.
- Coordinate with IP & OP pharmacy teams to ensure smooth supply chain flow.
Compliance & Quality Assurance:
- Ensure that all procurement follows drug regulatory guidelines and hospital policies.
- Maintain accurate purchase records, invoices, and audit compliance reports.
- Monitor expiry, batch recalls, and drug quality issues in coordination with the QA team.
Financial & Operational Management:
- Prepare and manage purchase budgets for the pharmacy.
- Monitor and control purchase costs, ensuring savings wherever possible.
- Provide regular MIS reports to management on purchase trends, vendor performance, and cost savings.
Required Skills & Qualifications:
- Education: B.Pharm / M.Pharm / MBA in Hospital or Supply Chain Management preferred.
- Experience: 8–12 years of experience in pharmaceutical purchase, with at least 7+ years in a hospital setting (multispecialty preferred).
- Skills: Excellent negotiation and vendor management skills, strong analytical and planning ability, knowledge of drug regulations, HSN codes, and statutory compliance, leadership skills with ability to manage a team effectively.
Key Performance Indicators (KPIs):
- Cost savings achieved through procurement strategies.
- Vendor performance and timely supply rate.
- Stock-out rate and inventory turnover ratio.
- Compliance audit scores.
- Stakeholder satisfaction (clinicians, pharmacy, finance).
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