Purchase Executive

Overview

We are seeking a diligent Purchase Executive to strengthen our procurement team by managing vendor relations and ensuring efficient purchasing operations. This role involves sourcing reliable suppliers, negotiating favorable terms, managing inventory levels, and ensuring compliance with company policies and legal requirements.

Key Responsibilities

• Identify and assess reliable vendors and suppliers for developing lasting partnerships.
• Maintain strong vendor relationships to guarantee timely delivery and beneficial terms.
• Negotiate procurement costs, quality standards, and delivery schedules effectively.
• Ensure timely procurement of materials, equipment, and services according to company needs.
• Adhere to established purchase policies, approval workflows, and regulatory compliance.
• Optimize procurement lead times through careful planning and coordination.
• Achieve cost savings via negotiation and sourcing alternatives.
• Monitor purchase budgets and ensure expenditures align with approved limits.
• Track market trends and propose cost-effective substitute materials where applicable.
• Collaborate with warehouse teams to monitor stock levels and maintain optimal reorder points, preventing overstocking or shortages.
• Coordinate with logistics teams to facilitate smooth delivery of procured materials.
• Maintain detailed purchase documentation, contracts, and vendor agreements.
• Ensure adherence to GST, taxation, and legal compliance in procurement activities.
• Generate regular Management Information System (MIS) reports on purchases and vendor performance.
• Verify material quality by coordinating with QA and technical departments for inspections and approvals.
• Manage supplier audits and evaluate performance metrics.
• Meet procurement cost reduction goals and provide timely updates to management.
• Support continuous enhancements in procurement processes.