Purchase Executive - Commodity

Brief Job Description:

• Commodity Sourcing & Procurement: Execute commodity procurement strategies aligned with the companys business objectives and production schedules.
  Ensure the timely acquisition of commodities at competitive prices, without compromising on quality or supply chain efficiency.
  
  
• Supplier Management: Develop, maintain, and enhance relationships with key suppliers to secure the best terms and ensure a reliable supply of commodities.
  Conduct supplier evaluations, including performance assessments based on quality, cost, and delivery timelines.
  Drive supplier development initiatives to enhance their capabilities and ensure alignment with business requirements.
• Market Research & Trend Analysis: Monitor and analyze commodity markets, including pricing trends, supply-demand dynamics, and potential risks or disruptions.
  Stay updated on market conditions, emerging suppliers, and potential alternative sourcing strategies.
  Provide insights and recommendations on purchasing strategies based on market data to minimize risks and reduce costs.
  
  
• Cost Optimization & Negotiation: Negotiate with suppliers to secure optimal pricing, delivery terms, and payment conditions.
  Implement cost-saving measures while maintaining quality, reliability of supply and lead time reduction.
• Contract Management: Draft, review, and manage supplier contracts to ensure compliance with legal and company standards.
  Ensure that contracts are executed efficiently and that all terms and conditions are met by both the company and the supplier.
  Manage contract renewals and negotiations as required to maintain supplier partnerships.
• Inventory Management & Demand Planning: Collaborate with inventory management and production planning teams to forecast commodity needs based on production schedules.
  Maintain optimal inventory levels of commodities, minimizing both overstock and stock-out situations.
• Compliance & Documentation: Ensure procurement activities are in compliance with company policies, ethical standards, and legal requirements.
  Maintain accurate and up-to-date procurement records, including supplier agreements, purchase orders, and performance reports.
  Collaborate with legal and compliance teams to address any contractual or regulatory issues.
• Cross-Functional Collaboration: Work closely with internal teams such as operations, production, finance, and logistics to ensure that commodity procurement aligns with overall business objectives.
  Provide timely updates to stakeholders on procurement activities, market trends, and supplier performance.

Key Result Areas:

• Contract Management
• Vendor Performance & Cost Management
• Purchase Order (PO) Management
• Financial Reporting & Profitability
• Data Accuracy & SAP Utilization
• Track, measure, and report procurement performance through key metrics such as cost savings, supplier performance, and delivery timelines.
• Provide regular reports and updates to senior management on procurement activities, market trends, and potential risks.

Skills required:

• Commercial Acumen
• CRM Management (Customer Relationship Management)
• SAP or ERP System Proficiency

Product handled : Spices, FMCG, Grocery