Purchase Manager

Role and Responsibilities:

• Develop, lead and execute purchasing strategies.
• Setting up the weekly, monthly, quarterly procurement plan.
• Procurement of raw materials from national and international market.
• Development of alternative sources for raw materials which helps in cost saving.
• Purchasing machines with improved technology to increase production.
• Liaison with the production department to maintain optimum inventory.
• Implementing systems to avoid situations like over-stocking or out-of-stock which cause production and financial losses.
• Liaison with finance department for timely payment of bills.
• Developing reports on procurement and usage of material for top management.
• Effective management of vendor database.
• To maintain vendor satisfaction at ease of business.
• ABC classification of vendors based on criteria like cost, quality, timely delivery and service etc and send quarterly report to vendors showing their performance.
• Evaluating vendors & negotiating the price, delivery schedule and terms and conditions with them.
• Development of new vendors.
• To ensure cost cutting to maximize credit terms.
• Conducting training for vendors & their team members to educate them about companys requirements and help them in improving their performance.
• Timely clearance of payments & handling vendor inquiries.
• Running programs to evaluate vendors based on the feedback from internal stake holders.
• Maintaining the stock of material without any variance by conducting stock verification and documentation.
• Implementing FIFO / LIFO in the store.
• Coordinating with logistic / transport vendor for timely dispatches.
• Regularizing material receipts and ensuring the fluidity of stocks from one plant to another.
• Planning & budgeting of purchase functions, involving cost estimation, contract negotiations.
• Monitor costs and expenses to assist in budget preparation.
• Maintain the MIS of purchase in respect to Stock.

Knowledge, Skills, and Interface

Qualification (Minimum):

Bachelor’s degree.

Role specific Knowledge & Experience:

Minimum 7 years of experience in Purchase.

Traits and Capabilities of an ideal candidate:

Functional Competencies:

• Familiarity with sourcing and vendor management.
• Interest in market dynamics along with business sense.
• Working experience of vendor management software.

Behavioural Competencies

• Excellent communication skills, with the ability to influence stakeholders at all levels.
• Decision making skills.
• Team Player.
• Ability to thrive in a fast-paced, dynamic environment and manage multiple projects simultaneously.

Accountability: (Continuous end result or output required from the incumbent):

Developing and executing purchasing strategies, tracking metrics to reduce expenses, negotiating deals, and managing vendor.