Identify, evaluate, and select reliable suppliers/vendors based on quality, cost, and delivery timelines.
Source raw materials, finished goods, and services specific to the industry (e.g., automobile parts, telecom equipment, retail products, manufacturing raw materials).
Monitor market trends, competitor pricing, and industry developments to optimize procurement decisions.
Develop and maintain strong relationships with suppliers to ensure timely and cost-effective procurement.
Negotiate contracts, pricing, payment terms, and delivery schedules.
Evaluate vendor performance based on quality, service, and compliance.
Prepare and process purchase orders (POs), invoices, and approvals.
Work with warehouse, inventory, and logistics teams to maintain optimal stock levels.
Ensure on-time delivery and resolve issues related to delays, shortages, or quality.
Monitor procurement expenses to optimize costs without compromising quality.
Ensure compliance with company policies, industry regulations, and ethical sourcing standards.
Assist in the preparation of budget forecasts and cost analysis reports.
Coordinate with production, sales, finance, and logistics teams to align procurement with business needs.
Support new product launches by ensuring availability of materials and supplies.