Purchase - Executive

4 days ago

Hyderabad Telangana, India Promea Therapeutics Full time

**Job Summary**:
The Purchase Executive in Promea plays a crucial role in managing the procurement process and ensuring the timely and cost-effective sourcing of materials, equipment, and services. They will collaborate with suppliers, negotiate contracts, and maintain optimal inventory levels to support Promea operational needs.

**Key Responsibilities**:

- Identify reliable suppliers, evaluate their capabilities, and negotiate favorable terms and pricing agreements.
- Prepare and issue purchase orders based on approved requisitions, ensuring accuracy and compliance with procurement policies and procedures.
- Collaborate with internal stakeholders, including production, quality assurance, and finance, to understand their procurement requirements and specifications.
- Monitor market trends, conduct supplier assessments, and stay updated with industry developments to identify potential cost savings and sourcing opportunities.
- Maintain strong relationships with suppliers, resolve any issues or disputes, and conduct periodic supplier performance evaluations.
- Ensure timely delivery of materials and services, coordinating with suppliers and internal teams to address any delays or discrepancies.
- Track and manage procurement budgets, ensuring cost control and adherence to approved spending limits.
- Monitor inventory levels, lead times, and consumption patterns to optimize inventory management and minimize stockouts or excess inventory.
- Implement and maintain effective procurement documentation, including purchase orders, contracts, supplier agreements, and price lists.
- Stay updated with regulatory requirements related to procurement and maintain compliance with applicable regulations, such as Good Manufacturing Practices (GMP) and Good Documentation Practices (GDP).
- Collaborate with cross-functional teams to support new product launches, product changes, and supplier qualification processes.
- Evaluate and assess supplier performance, quality, and delivery reliability, and implement improvement initiatives as needed.
- Continuously seek opportunities for process improvement, cost optimization, and efficiency gains in the procurement function.
- Maintain accurate procurement records, including pricing information, supplier contracts, and performance metrics.

**Qualifications and Skills**:

- Bachelor's degree in Supply Chain Management, Business Administration, or a related field.
- Minimum of 3-5 years of experience in procurement or purchasing, preferably in the pharmaceutical or healthcare industry.
- Strong knowledge of procurement principles, practices, and regulations within the pharmaceutical sector.
- Familiarity with Good Manufacturing Practices (GMP) and regulatory requirements related to pharmaceutical procurement.
- Proven negotiation skills and ability to build effective supplier relationships.
- Excellent communication and interpersonal skills, with the ability to collaborate and interact with internal stakeholders and suppliers.
- Strong analytical and problem-solving abilities, with attention to detail and the ability to analyze procurement data and trends.
- Proficiency in using procurement software, enterprise resource planning (ERP) systems, and Microsoft Office Suite.
- Knowledge of pharmaceutical product categories, specifications, and quality requirements is preferred.
- Understanding of contract management and legal aspects related to procurement.
- Ability to multitask, prioritize workload, and meet deadlines in a fast-paced and dynamic environment.

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