Procurement Officer Job Summary

As a Procurement Officer, you will play a crucial role in managing and optimizing our procurement processes, ensuring the timely and cost-effective acquisition of goods and services while adhering to the highest standards of quality and compliance. Working closely with internal stakeholders and external suppliers, you will be responsible for overseeing the end-to-end procurement lifecycle and contributing to the achievement of our company’s strategic objectives.

Key Responsibilities:

1. Procurement Strategy Development: Collaborate with senior management to develop and implement effective procurement strategies aligned with the company’s goals and objectives. Analyze market trends, conduct supplier assessments, and identify opportunities for process improvement.
2. Sourcing and Supplier Management: Identify reliable suppliers, negotiate favorable terms and conditions, and establish strong working relationships. Monitor supplier performance, conduct regular evaluations, and address any issues or discrepancies to ensure a reliable and efficient supply chain.
3. Purchase Order Processing: Generate purchase orders accurately and efficiently, considering budgetary constraints and delivery timelines. Work closely with the finance team to manage the purchase approval process and maintain appropriate documentation.
4. Contract Management: Review and negotiate contracts with suppliers, ensuring compliance with legal and regulatory requirements. Continuously monitor contract terms and renegotiate agreements, when necessary, to optimize terms and mitigate risks.
5. Inventory Control: Monitor inventory levels and implement inventory management strategies to prevent stockouts and excess inventory. Work closely with warehouse and logistics teams to maintain optimal inventory levels.
6. Cost Optimization: Continuously seek cost-saving opportunities without compromising product quality or supplier relationships. Analyze spending data and implement cost-reduction initiatives to maximize procurement efficiency.
7. Compliance and Risk Management: Ensure procurement activities adhere to company policies, industry standards, and relevant regulations. Identify potential risks in the supply chain and implement mitigation strategies.
8. Vendor Performance Evaluation: Collaborate with cross-functional teams to assess supplier performance regularly. Establish key performance indicators (KPIs) and drive improvement initiatives to enhance overall supplier performance.
9. Market Research: Stay informed about industry trends, new product offerings, and emerging technologies. Leverage this knowledge to make informed procurement decisions and maintain a competitive advantage.

Qualifications and Requirements:

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Proven experience as a Procurement Officer or in a similar role, with [X] years of experience in procurement within [industry/sector].
• Strong negotiation and communication skills with the ability to build and maintain relationships with suppliers and internal stakeholders.
• Proficiency in procurement software and tools, as well as Microsoft Office Suite.
• Solid understanding of procurement regulations, contract management, and risk assessment.
• Excellent organizational skills with a keen eye for detail and the ability to manage multiple tasks simultaneously.
• Strong analytical and problem-solving abilities to make data-driven decisions.
• Demonstrated ability to work under pressure and meet tight deadlines in a fast-paced environment.

If you are a motivated and skilled professional seeking a rewarding opportunity in procurement within a dynamic and innovative company, we invite you to apply for the Procurement Officer position at Platinum Advisory. Join our team and play a pivotal role in shaping our procurement strategies and contributing to our continued growth and success.