Procurement Associate (Accounting)

Orbit Exports Ltd is a leading Fabric manufacturing Company and we are seeking dynamic and experienced Senior Associate in Procurement Account for our Mumbai Location.

The Job Description of the role is provided for your quick perusal.

Role & responsibilities

1. Procurement Financial Oversight:

• Review and process invoices related to procurement activities, ensuring that they match purchase orders, delivery receipts, and contracts/ agreement.
• Verify payment terms and ensure compliance with company policies and procedures.
• Monitor and ensure accurate coding of procurement transactions in the financial system.
• Process payments to suppliers and vendors and resolve discrepancies or issues in a timely manner.

2. Accounts and Inventory Reconciliation:

• Reconcile accounts related to procurement, including accounts payable and purchase order balances.
• Ensure that all transactions are properly recorded and reflect actual purchases in to ERP system.
• Prepare and review monthly, quarterly, and annual procurement-related financial reports.
• Monitor the procurements vis-à-vis the Sales order against which it has been procured. Status of the SO, delivery thereof and the inventory status against the same.

3. Cost Analysis and Budgeting:

• Collaborate with the procurement department to develop and monitor budgets for purchasing and procurement activities.
• Analyze procurement data to identify cost-saving opportunities, trends, and procurement inefficiencies.
• Work with cross-functional teams to forecast and plan for future procurement needs while maintaining budgetary controls.

4. Compliance and Reporting:

• Ensure that procurement practices comply with both internal financial policies and external regulatory standards.
• Assist in the preparation of financial statements related to procurement transactions.
• Support internal audits and external audits by providing necessary documentation and information related to procurement activities

5. Vendor Management:

• Maintain records of supplier payments, terms, and performance.
• Support vendor negotiations, ensuring that contracts and agreements are aligned with the company's procurement policies and financial objectives.

6. Process Improvement:

• Continuously evaluate and recommend improvements to procurement and accounting processes to increase efficiency, reduce costs, and improve overall financial control.
• Collaborate with the procurement team to ensure a seamless integration of procurement and accounting activities.

Preferred candidate profile

• Commerce Graduate / Post Graduate with Inter CA / CMA / CWA would be preferred.
• 5 years of experience in accounting or procurement roles, preferably with exposure to procurement-related financial processes and inventory monitoring.
• Experience with accounting software (e.g., SAP, Infor LN, Oracle based ERP, Quick Books) and any other procurement tools.
• Strong understanding of accounting principles, procurement processes, Inventory movement and budgeting.
• Excellent analytical and problem-solving skills.
• Proficient in Microsoft Excel and other financial tools.
• Strong attention to detail and accuracy.
• Good communication and interpersonal skills, with the ability to collaborate across departments.
• Ability to handle multiple tasks and meet deadlines in a fast-paced environment.
• High level of integrity and professionalism in managing sensitive financial data.

Do reach out to us with your updated Resume to hr1@orbitexports.com - if Interested in this role. You are also welcome to share qualified references, if they suit the role above.

Regards

HR - Orbit Team