Purchasing Executive

Job Purpose:

To lead and manage the procurement process by sourcing high-quality materials, negotiating favorable contracts, and maintaining strong supplier relationships. The role ensures cost-effective purchasing while upholding quality, compliance, and efficiency to support business operations and strategic goals

Key Accountabilities:

·       Develop and implement sourcing strategies to optimize cost, quality, and efficiency.

·       Identify, evaluate, and onboard high-value suppliers to ensure a competitive edge.

·       Establish long-term partnerships with key suppliers for business sustainability.

·       Conduct high-level supplier visits and audits to assess capabilities and compliance.

·       Lead high-stakes negotiations to secure the best terms, pricing, and conditions.

·       Collaborate with legal teams to review, finalize, and enforce supplier contracts.

·       Implement strategic supplier agreements to ensure business continuity and cost savings.

·       Oversee end-to-end procurement operations, ensuring efficiency and cost-effectiveness.

·       Develop procurement strategies aligned with organizational goals.

·       Ensure seamless integration of procurement activities with supply chain and production.

·       Drive cost reduction initiatives without compromising quality and service.

·       Analyze pricing trends, forecast procurement costs, and develop risk mitigation strategies.

·       Optimize budgets and expenditures to maximize profitability.

·       Assess and mitigate risks associated with procurement, suppliers, and supply chain disruptions.

·       Ensure adherence to company policies, industry regulations, and ethical procurement standards.

·       Develop contingency plans for critical supplier failures or market volatility.

·       Stay ahead of industry trends, emerging technologies, and market fluctuations.

·       Identify opportunities for process improvements and innovation in procurement.

·       Implement digital transformation strategies for procurement efficiency.

·       Lead, mentor, and develop a high-performing procurement team.

·       Foster a culture of continuous improvement, collaboration, and accountability.

·       Drive cross-functional coordination between procurement, finance, and operations teams.

·       Establish key performance indicators (KPIs) to measure procurement success.

·       Provide executive-level reports on procurement strategies, cost savings, and supplier performance.

·       Develop dashboards for real-time tracking of procurement activities.

·       Sourcing and Supplier Visits:

·       Identify and evaluate potential suppliers for required materials.

·       Conduct regular visits to suppliers and shops to assess product quality, negotiate terms, and build

·       strong relationships.

·       Contract Negotiation:

·       Lead negotiations with suppliers to secure favorable terms and conditions.

·       Collaborate with legal and stakeholders to review and finalize contracts.

·       Material Procurement:

·       independently manage the procurement process from sourcing to delivery.

·       Ensure timely and cost-effective acquisition of materials.

·       Vendor Relationship Management:

·       Maintain positive relationships with key suppliers.

·       Resolve issues or disputes with suppliers in a timely and effective manner.

·       Market Research:

·       Stay informed about market trends, pricing, and product availability.

·       Conduct regular market research to identify potential cost savings and quality improvements.

·       Cost Optimization:

·       Identify cost-saving opportunities without compromising quality.

·       Analyze pricing trends and negotiate effectively to optimize procurement decisions.

·       Risk Management:

·       Assess and mitigate risks associated with the procurement process.

·       Develop contingency plans to address potential disruptions.

·       Policy Adherence:

·       Ensure compliance with procurement policies, industry regulations, and ethical standards.

·       Stay informed about changes in procurement regulations and best practices.

·       Documentation and Reporting:

·       Maintain accurate records of procurement transactions, contracts, and agreements.

Prepare regular reports on procurement activities and performance.