- Develop and implement strategic sourcing strategies to identify, evaluate, and select suppliers based on quality, price, reliability, and other performance criteria.
- Conduct market research and supplier assessments to identify potential sources of supply and foster long-term partnerships with key vendors.
- Negotiate contracts, terms, and pricing agreements with suppliers to achieve cost savings, improve quality, and mitigate supply chain risks.
- Monitor supplier performance and adherence to contractual obligations, and implement corrective actions as needed to maintain supplier relationships. - Collaborate with engineering and technical teams to evaluate technical specifications, requirements, and standards for materials, equipment, and components.
- Ensure that purchased items meet technical specifications and performance requirements, and provide technical support to resolve any issues or discrepancies. - Conduct cost analysis and price benchmarking to identify cost-saving opportunities and negotiate favorable pricing terms with suppliers. - Develop and implement cost reduction initiatives, value engineering strategies, and alternative sourcing options to optimize procurement costs.
- Resolve any issues or disputes that may arise with suppliers in a professional manner. Continuously seek opportunities for cost savings through strategic sourcing initiatives. Stay updated with industry trends and best practices in procurement management
Requirements
Requirements:
- Min. 8-10 years of experience as a Purchasing Officer or similar role.
- Masters’ degree in business administration or relevant or Bachelors in Engineering (Electrical/Mechanical).
- Solid analytical skills, with the ability to create financial reports and conduct cost analyses.
- In-depth knowledge of purchasing functions, inventory and supply management system.
- Excellent communication, negotiation and interpersonal skills