Purchase Executive

Job Summary:
The Purchase Executive will be responsible for sourcing and procuring raw materials, components, equipment, and services required for engineering projects. The role involves maintaining vendor relationships, negotiating prices, ensuring timely deliveries, and maintaining inventory levels to meet production schedules.

Key Responsibilities:
1. Procurement & Sourcing:
• Identify and evaluate suppliers for raw materials, engineering parts, machinery, and equipment.
• Source materials based on production requirements and project needs.
• Prepare and process purchase orders in accordance with company policies and procedures.

2. Vendor Management:
• Develop and maintain relationships with reliable suppliers.
• Negotiate contracts, pricing, and payment terms to achieve cost savings and quality materials.
• Conduct vendor performance evaluations and manage vendor databases.

3. Inventory Management:
• Monitor and manage inventory levels to prevent stock shortages and overstocking.
• Coordinate with the warehouse and production teams to ensure materials are available when needed.
• Track and report inventory metrics to management.

4. Cost Control & Budgeting:
• Ensure purchases are made within budgetary limits and work towards reducing procurement costs.
• Conduct market research to stay updated on material prices and trends.

5. Coordination & Communication:
• Collaborate with engineering and production teams to understand material requirements.
• Communicate order statuses and delivery timelines to internal stakeholders.
• Handle any discrepancies or issues with deliveries, including returns and replacements.

6. Documentation & Compliance:
• Maintain accurate procurement records, including purchase orders, invoices, delivery notes, and contracts.
• Ensure compliance with company policies and relevant industry standards.