Purchasing Executive

About the Role

The Purchasing Executive role will involve sourcing equipment, goods, and services, as well as managing vendors.

Key Responsibilities

• Prioritize purchase requisitions based on type of purchase (upcoming or general), product, and time; process upcoming requisitions daily.
• Send requisitions for authorization to Administration and Finance; provide follow-up, present quotes, comparative charts, etc.
• Review purchase requisitions when making an order.
• Oversee the registry and updating of material and supplier catalogues.
• Verify the number of materials to reorder to maintain a minimum stock and not exceed the maximum to cover sales and raw materials operation needs.
• Implement procurement strategies and policies for cost optimization and enhancing efficiency.
• Negotiate Contracts.
• Collaborate with internal stakeholders to understand their requirements and align procurement activities with organizational goals.
• Conduct market research and analysis to stay updated on industry trends, supplier capabilities, and pricing fluctuations.
• Manage supplier relationships, including ongoing performance evaluation, issue resolution, and fostering long-term partnerships.
• Monitor inventory levels, analyze demand patterns, and implement inventory management strategies to manage stock levels and avoid shortages or excesses.
• Continuously evaluate and improve procurement practices, including identifying cost-saving opportunities and process enhancements.
• Prepare and present reports on procurement activities, performance metrics, and cost savings to higher management.
• Develop and maintain procurement metrics to track performance, identify areas for improvement, and report on sourcing effectiveness.
• Stay updated on regulatory requirements and ensure compliance with applicable laws and regulations related to sourcing activities.

Requirements & Tech Stack

• Good knowledge of Tally.
• Ability to create PO, Vendor Registration, and comparative charts.
• Good contacts in the market and with vendors.

Qualifications

• Proven working experience as a Purchasing Agent or Officer.
• Familiarity with sourcing and vendor management.
• Interest in market dynamics along with business sense.
• A knack for negotiation and networking.
• Ability to gather and analyze data and work with figures.
• Solid judgment along with decision-making skills.
• Educational Qualification: Any Graduate or Specialization in Supply Chain Management.
• Budget: Up to 5 Lacs (Non-Negotiable).