Purchase Executive

Key responsibilities

1. Sourcing and vendor management

• Research and identify potential suppliers based on criteria such as cost, quality, reliability, and service.
• Evaluate and qualify vendors, including conducting market research and assessing capabilities.
• Maintain strong, positive relationships with existing suppliers and build new vendor partnerships.
• Analyze market trends and pricing to inform procurement strategies and identify cost-saving opportunities. 

2. Procurement and negotiation

• Negotiate contracts, pricing, and terms with suppliers to secure the most favorable deals.
• Prepare and process purchase orders and purchase requisitions accurately and efficiently.
• Obtain quotes and compare offers from suppliers to ensure competitive pricing.
• Ensure all purchases comply with company policies, legal regulations, and industry standards. 

3. Order and inventory management

• Monitor inventory levels and place orders as needed to prevent stockouts and overstocking.
• Track orders and coordinate delivery schedules with suppliers to ensure on-time delivery.
• Collaborate with warehouse staff and other departments to confirm goods are received in the correct quantity and meet quality standards.
• Resolve any issues related to deliveries, defective products, or incorrect shipments. 

4. Documentation and reporting

• Maintain accurate and updated records of all purchased products, delivery information, and invoices.
• Generate regular reports on purchases, including cost analysis and vendor performance metrics.
• Submit all documentation to the accounting department for timely payment processing. 

5. Cross-functional collaboration

• Work closely with internal departments, such as production, sales, and finance, to understand their procurement needs.
• Collaborate on demand forecasting and procurement planning to align purchasing activities with business objectives. 

Qualifications and skills

Education:

• Bachelor's degree in Business Administration, Supply Chain Management, Logistics, or a related field is typically required. 

Experience:

• A minimum of 1–3 years of experience in a procurement or purchasing role is often necessary.