Sourcing and Supplier Management
• Identify, evaluate, and select suppliers based on quality, cost, and reliability.
• Maintain strong relationships with vendors and negotiate favorable terms.
• Implement supplier scorecards to monitor performance and support data-driven renewal or exit decisions.
Purchasing and Order Processing
• Prepare and issue purchase orders in accordance with company policies.
• Ensure timely delivery of goods and services to meet operational needs.
• Validate purchase requisitions against approved budgets and procurement thresholds before processing.
• Leverage e-procurement systems to streamline order workflows, enhance audit trails, and reduce manual errors.
Cost Control and Budget Compliance
• Monitor procurement budgets and ensure cost-effectiveness.
• Analyze market trends to secure competitive pricing.
• Perform total cost of ownership (TCO) analyzes to evaluate long-term value beyond upfront pricing.
• Collaborate with finance to forecast spend, track variances, and support mid-year budget reallocations as needed.
Contract Management
• Draft, review, and manage procurement contracts.
• Ensure compliance with legal and regulatory requirements.
• Maintain a centralized contract repository with automated alerts for renewals, expirations, and compliance milestones.
Inventory and Stock Monitoring
• Coordinate with warehouse teams to maintain optimal stock levels.
• Track deliveries and resolve discrepancies in quantity or quality.
• Conduct periodic physical inventory audits and reconcile variances with system records to ensure data integrity.
Documentation and Reporting
• Maintain accurate records of purchases, pricing, and supplier performance.
• Prepare regular procurement reports for management review.
• Ensure all procurement documentation adheres to internal controls and is retained per records management policy.
Risk Management
• Identify potential supply chain risks and develop mitigation strategies.
• Ensure adherence to ethical and sustainable sourcing practices.
• Diversify supplier base geographically and by capability to reduce dependency and enhance resilience.