Market Research : Conduct market research and analysis to identify potential suppliers, market trends, pricing, and product/service options. Supplier Evaluation : Evaluate and assess potential and existing suppliers based on various criteria, including price, quality, reliability, and performance. Cost Analysis : Analyze procurement costs and develop strategies to reduce costs while maintaining or improving product or service quality. Sourcing Strategies : Develop and implement procurement strategies to secure the best deals and negotiate favorable terms and conditions with suppliers. Supplier Relationship Management : Foster and maintain strong relationships with suppliers, address issues, and negotiate contracts and agreements. Data Analysis : Analyze procurement data, including spending patterns, supplier performance, and inventory levels, to identify opportunities for improvement. Risk Management : Identify and assess procurement-related risks and develop mitigation strategies. Compliance : Ensure procurement activities comply with company policies, industry regulations, and legal requirements.