Procurement Specialist

We are seeking a highly skilled and experienced Procurement Specialist with a minimum of 04 years of experience to manage the company’s procurement activities. The ideal candidate will have a proven track record in sourcing, negotiating, and purchasing goods and services in a timely, cost-effective manner while ensuring high-quality standards. The Procurement Specialist will play a key role in optimizing and ensuring smooth operational flow within the organization.

Key Responsibilities/Duties:

Procurement Planning:

• Develop and implement strategic procurement plans to meet the organization’s needs for materials, supplies, and services.
• Decisions involving legal or regulatory requirements, Contract standards and cost targets to ensure that the key organization interests are captured and covered in the Contract.
• Ensure internal management and partner organization are consulted for any strategic decisions, Contract Variations, or approvals for complex Contracts.
• Lead Contract Management reviews (setting, analysis and monitoring of KPI’s) via regular cadence.
• Facilitate and own the record keeping for all Contract-related correspondence and documentation.
• Monitor Contracts actively and complete Contract close-out, prompt for extension or renewal, and or short cancelation, as required.
• Ensure alignment to standards, procedures, and templates set by Contract Process Owner.
• Recognize procurement negotiation issues and options and make informed assessment of negotiation arguments.
• Ensure the contracted services are delivered in accordance with the intent of the Contract, risks are identified, and performance effectively managed
• Escalate any contractual deviations to the legal department & closely follow-up legal actions as a result of contractual deviations.
• Provide input on suppliers / vendors payment processing in alignment with the Contract.

Vendor Management:

• Identify and establish relationships with suppliers, negotiate contracts, and manage vendor performance to ensure timely and cost-effective procurement.

Negotiation & Contract Management:

• Lead negotiations with vendors, ensuring favourable terms and conditions for the company. Manage and monitor ongoing contracts and resolve any issues with suppliers.

Cost Optimization:

• Develop strategies to minimize costs without compromising on quality, efficiency, or delivery timelines. Conduct market research to identify potential cost-saving opportunities.

Inventory Management:

• Collaborate with relevant departments to ensure the proper management and tracking of inventory levels, ensuring timely procurement to avoid shortages.

Compliance & Documentation:

• Ensure all procurement processes comply with company policies, legal requirements, and industry standards. Maintain accurate records of purchases, contracts, and communications with suppliers.

Team Leadership:

• Supervise and mentor procurement staff, providing guidance and support in their daily tasks. Conduct performance evaluations and implement continuous improvement initiatives.

Reporting & Analysis:

• Prepare regular reports on procurement activities, expenditures, supplier performance, and market trends. Provide recommendations for process improvements.

Requirements:

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Professional certifications in CIPS, CPIM is a plus.
• Minimum of 04 years of experience in procurement, with a proven track record of managing purchasing activities and vendor relationships.
• Strong negotiation, communication, and interpersonal skills.
• In-depth knowledge of procurement processes, supplier management, and contract negotiations.
• Proficiency in procurement software (ERP) and Microsoft Office Suite.
• Strong analytical skills with the ability to evaluate complex data and market trends.
• Ability to work independently and as part of a team, with strong organizational and multitasking skills.
• Attention to detail and ability to maintain high standards of quality in procurement practices.