Procurement Specialist

Job OverviewThe Procurement Specialist will develop and execute procurement strategies that align with the group’s overall business objectives. The role focuses on enhancing procurement efficiency and value creation, including cost savings, cost avoidance, and cash management.The incumbent will be responsible for market surveys and analysis, strategic sourcing, supplier relationship management, contract negotiations, and ensuring adherence to procurement policies and procedures. Collaboration with internal stakeholders and continuous process improvement are key aspects of this role.Key ResponsibilitiesProcurement Strategy DevelopmentDevelop and execute procurement strategies that support the group's overall business objectives.Drive initiatives to enhance procurement efficiency and value creation, including cost savings, cost avoidance, and cash management.Market AnalysisConduct market surveys and analyze market trends.Make recommendations for strategic sourcing procedures based on market analysis.Spend Categories ManagementSet a procurement strategy for spend categoriesShall be familiar and experienced in \"Logistics , Insurance , Travel ,,,,etc \"Categories which will help the organization for better setup.Supplier Relationship ManagementBuild and maintain strong relationships with key suppliers and vendors.Negotiate contracts and agreements to secure the best terms and conditions for the organization.Monitor supplier performance and manage issues related to supplier delivery, quality, and service.Policy ImplementationEnsure that all concerned parties are implementing the group procurement policy and process efficiently.Conduct regular audits and reviews to ensure adherence to procurement policies and practices.Cost-Saving InitiativesImplement cost-saving initiatives and identify opportunities for process improvements.Stakeholder CollaborationCollaborate with internal stakeholders to understand their procurement needs and provide solutions that support their objectives.SkillsQualification and ExperienceBachelor’s degree in Business, Supply Chain Management, or a related field.Minimum of 5 – 7 years of relevant experience.Skills, Knowledge & AbilityStrong analytical skills and experience with market analysis and strategic sourcing.Excellent negotiation and contract management skills.Proven ability to build and maintain strong supplier relationships.Knowledge of procurement policies, procedures, and best practices.Strong problem-solving skills and the ability to manage supplier performance issues.Excellent communication and interpersonal skills.Proficiency in procurement software and Microsoft Office Suite#J-18808-Ljbffr