Purchase Executive

Role & responsibilities

1. Sourcing and Vendor Management

• Identify and evaluate potential suppliers based on quality, price, and reliability.
• Negotiate contracts, terms, and pricing to achieve cost-effective procurement.
• Build and maintain strong relationships with existing and new vendors.

2. Inventory Management

• Monitor inventory levels to ensure optimal stock availability.
• Place orders based on demand forecasts and inventory levels to avoid stock outs or excess inventory.
• Coordinate with inventory and warehouse teams to streamline storage and distribution.

3. Purchase Order Management

• Create and manage purchase orders, ensuring accuracy in quantity, specifications, and pricing.
• Track orders and communicate with suppliers to ensure timely delivery.
• Resolve issues related to delays, shortages, or quality issues.

4. Cost Management and Budgeting

• Work within the organizations budget to achieve cost savings.
• Implement cost-saving initiatives and strategies to improve the purchasing process.
• Analyze market trends and competitor pricing to make informed purchasing decisions.

5. Quality Assurance

• Ensure that purchased goods meet the required quality standards.
• Coordinate with quality control teams to inspect goods upon arrival.
• Address and resolve quality-related issues with suppliers.

6. Documentation and Compliance

• Maintain accurate records of procurement, contracts, and supplier information.
• Ensure all purchasing activities comply with company policies and legal regulations.
• Prepare reports for management on procurement activities, costs, and vendor performance.

7. Collaboration with Cross-Functional Teams

• Work with production, inventory, finance, and other departments to understand and meet procurement needs.
• Support project teams by providing timely and cost-effective procurement solutions.

8. Market Research and Continuous Improvement

• Keep up-to-date with industry trends and new product offerings.
• Recommend improvements to streamline the purchasing process and enhance efficiency.
• Conduct regular evaluations of suppliers for cost, quality, and delivery performance.

The role requires strong negotiation skills, attention to detail, knowledge of procurement processes, and proficiency in data management tools and ERP/SAP systems.