The Purchase Executive is responsible for sourcing and procuring materials, goods, and services required by the company. The role involves negotiating with suppliers, ensuring timely delivery, maintaining cost efficiency, and managing purchase records.
Key Responsibilities
- Procurement & Sourcing: Identify and evaluate suppliers, negotiate contracts, and ensure the procurement of quality materials at the best prices.
- Vendor Management: Build and maintain relationships with suppliers, track vendor performance, and ensure compliance with company policies.
- Purchase Orders: Prepare and process purchase orders (POs) in accordance with company policies and procedures.
- Inventory Management: Coordinate with the warehouse and other departments to maintain optimal inventory levels and prevent stock shortages or overstocking.
- Cost Optimization: Monitor pricing trends, negotiate cost reductions, and implement strategies to minimize procurement expenses.
- Compliance & Documentation: Ensure all purchases comply with company policies, legal requirements, and quality standards. Maintain accurate purchase records and reports.
- Market Research: Stay updated on market trends, new product availability, and potential alternative suppliers.
- Coordination: Work closely with internal departments (finance, production, logistics) to understand procurement needs and ensure smooth supply chain operations.
- Payment Processing: Coordinate with the finance team to ensure timely supplier payments and resolve any discrepancies in invoices.
Key Skills & Competencies:
- Solid negotiation and communication skills
- Knowledge of procurement and supply chain management
- Familiarity with ERP or procurement software
- Analytical and problem-solving abilities
- Attention to detail and organizational skills
- Ability to work under pressure and meet deadlines
Qualifications & Experience:
- Bachelors degree in Business Administration, Supply Chain Management, or a related field
- 1-3 years of experience in purchasing or procurement (industry-specific experience is a plus)
- Proficiency in Microsoft Office (Excel, Word, Outlook) and procurement software