- Develop, lead and execute purchasing strategies.
- Setting up the weekly, monthly, quarterly procurement plan.
- Procurement of raw materials from national and international market.
- Development of alternative sources for raw materials which helps in cost saving.
- Purchasing machines with improved technology to increase production.
- Liaison with the production department to maintain optimum inventory.
- Implementing systems to avoid situations like over-stocking or out-of-stock which cause production and financial losses.
- Liaison with finance department for timely payment of bills.
- Developing reports on procurement and usage of material for top management.
- Effective management of vendor database.
- To maintain vendor satisfaction at ease of business.
- ABC classification of vendors based on criteria like cost, quality, timely delivery and service etc and send quarterly report to vendors showing their performance.
- Evaluating vendors & negotiating the price, delivery schedule and terms and conditions with them.
- Development of new vendors.
- To ensure cost cutting to maximize credit terms.
- Conducting training for vendors & their team members to educate them about companys requirements and help them in improving their performance.
- Timely clearance of payments & handling vendor inquiries.
- Running programs to evaluate vendors based on the feedback from internal stake holders.
- Maintaining the stock of material without any variance by conducting stock verification and documentation.
- Implementing FIFO / LIFO in the store.
- Coordinating with logistic / transport vendor for timely dispatches.
- Regularizing material receipts and ensuring the fluidity of stocks from one plant to another.
- Planning & budgeting of purchase functions, involving cost estimation, contract negotiations.
- Monitor costs and expenses to assist in budget preparation.
- Maintain the MIS of purchase in respect to Stock.
Knowledge, Skills, and Interface
Qualification (Minimum):
Bachelor’s degree.
Role specific Knowledge & Experience:
Minimum 7 years of experience in Purchase.
Traits and Capabilities of an ideal candidate:
Functional Competencies:
- Familiarity with sourcing and vendor management.
- Interest in market dynamics along with business sense.
- Working experience of vendor management software.
Behavioural Competencies
- Excellent communication skills, with the ability to influence stakeholders at all levels.
- Decision making skills.
- Team Player.
- Ability to thrive in a quick-paced, dynamic environment and manage multiple projects simultaneously.
Accountability: (Continuous end result or output required from the incumbent): Developing and executing purchasing strategies, tracking metrics to reduce expenses, negotiating deals, and managing vendor.