Sourcing Suppliers:
- Identify potential suppliers and vendors through market research and networking.
- Evaluate supplier capabilities, reliability, and product quality.
- Maintain a database of approved suppliers.
Negotiation:
- Negotiate favorable terms, prices, and delivery schedules with suppliers.
- Review and analyze supplier contracts to ensure compliance with organizational policies and objectives.
- Aim to secure cost savings and favorable payment terms.
Purchase Order Management:
- Prepare purchase orders accurately and in a timely manner.
- Maintain records of all procurement transactions and documents.
- Ensure that all purchases are made in accordance with the organization's procurement policies and procedures in coordination with the accounting team.
Inventory Management:
- Monitor inventory levels to prevent overstocking or understocking of materials.
- Collaborate with other departments to forecast demand and plan inventory accordingly.
- Implement inventory control measures to minimize waste and optimize storage.
Quality Assurance:
- Work closely with quality control teams to ensure that purchased goods meet established quality standards.
- Address any quality issues or product defects with suppliers promptly.
Cost Control:
- Continuously seek opportunities to reduce procurement costs without compromising quality.
- Analyze spending patterns and recommend cost-saving measures.
- Track and report on cost savings achieved through strategic procurement efforts.
Supplier Relationship Management:
- Develop and maintain strong relationships with suppliers and vendors.
- Address supplier concerns and resolve disputes in a professional manner.
- Collaborate with suppliers to explore new products and technologies.
- Ensuring that Supplier Payments are made in a timely manner.
Compliance and Documentation:
- Ensure compliance with legal and regulatory requirements related to procurement.
- Maintain accurate procurement records and documentation for audits.
- Stay up-to-date with industry trends and best practices in procurement.
Reporting:
- Generate reports on procurement activities, including spending, savings, and supplier performance.
- Provide regular updates to management on procurement status and issues.
Operational Improvements:
- Develop strategies based on reports for expense and cost improvements
- Recommend process flows and improvements to management
Interdepartmental Coordination
- Coordinate with different departments on purchasing requirements and ensuring the proper compliance across all team members.
