Purchase Executive
2 days ago
Key responsibilities
1. Sourcing and vendor management
- Research and identify potential suppliers based on criteria such as cost, quality, reliability, and service.
- Evaluate and qualify vendors, including conducting market research and assessing capabilities.
- Maintain strong, positive relationships with existing suppliers and build new vendor partnerships.
- Analyze market trends and pricing to inform procurement strategies and identify cost-saving opportunities.
2. Procurement and negotiation
- Negotiate contracts, pricing, and terms with suppliers to secure the most favorable deals.
- Prepare and process purchase orders and purchase requisitions accurately and efficiently.
- Obtain quotes and compare offers from suppliers to ensure competitive pricing.
- Ensure all purchases comply with company policies, legal regulations, and industry standards.
3. Order and inventory management
- Monitor inventory levels and place orders as needed to prevent stockouts and overstocking.
- Track orders and coordinate delivery schedules with suppliers to ensure on-time delivery.
- Collaborate with warehouse staff and other departments to confirm goods are received in the correct quantity and meet quality standards.
- Resolve any issues related to deliveries, defective products, or incorrect shipments.
4. Documentation and reporting
- Maintain accurate and updated records of all purchased products, delivery information, and invoices.
- Generate regular reports on purchases, including cost analysis and vendor performance metrics.
- Submit all documentation to the accounting department for timely payment processing.
5. Cross-functional collaboration
- Work closely with internal departments, such as production, sales, and finance, to understand their procurement needs.
- Collaborate on demand forecasting and procurement planning to align purchasing activities with business objectives.
Qualifications and skills
Education:
- Bachelor's degree in Business Administration, Supply Chain Management, Logistics, or a related field is typically required.
Experience:
- A minimum of 1–3 years of experience in a procurement or purchasing role is often necessary.
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