A Purchase Executive responsible for primarily revolves around managing and executing the procurement process efficiently, ensuring timely acquisition of goods and services at the best possible prices. This involves a range of tasks from supplier identification and negotiation to purchase order management and quality assurance. candidate must have know tally .
1. Supplier Management:
Sourcing and Evaluation:
Identifying potential suppliers, evaluating their capabilities, and negotiating favorable terms and agreements.
Relationship Management:
Building and maintaining strong relationships with vendors to ensure smooth procurement operations.
Performance Monitoring:
Tracking supplier performance, including delivery times, quality, and pricing, to identify areas for improvement.
2. Procurement Process:
Purchase Order Management:
Creating and processing purchase orders, ensuring accuracy and timely placement with suppliers.
Inventory Management:
Monitoring inventory levels, forecasting future needs, and placing orders to maintain optimal stock levels.
Order Tracking:
Tracking the status of orders from placement to delivery, ensuring timely and accurate fulfillment.
3. Cost Management:
Cost Reduction:
Identifying and implementing cost-saving initiatives in procurement, such as negotiating better prices or finding alternative suppliers.
Budget Management:
Monitoring and managing the procurement budget to ensure cost-effectiveness.
4. Quality Assurance:
Quality Control: Ensuring that purchased goods and services meet the required quality standards.
Issue Resolution: Addressing any quality issues or discrepancies related to purchased items.
5. Collaboration and Communication:
Internal Stakeholder Engagement:
Collaborating with various departments (e.g., sales, finance, operations) to understand their procurement needs.
Cross-Functional Coordination:
Working with other teams to ensure smooth procurement processes and resolve any procurement-related issues.
6. Compliance and Documentation:
Policy Adherence:
Ensuring compliance with company policies, procedures, and relevant regulations.
Record Keeping:
Maintaining accurate records of purchases, pricing, supplier information, and other relevant data.