Procurement Manager

Supplier Management: 1.Identify, evaluate, and select suppliers and vendors based on cost, quality, reliability, and service. 2.Negotiate contracts, terms, and prices with suppliers to ensure the best deals. 3.Build and maintain strong relationships with existing suppliers and explore opportunities for new partnerships. 4.Monitor supplier performance and ensure that they adhere to agreed standards, including delivery schedules and quality expectations. Inventory Management: 1.Collaborate with inventory management teams to forecast demand and ensure adequate stock levels for retail stores. 2.Ensure timely replenishment of products and manage seasonal or promotional product needs. 3.Optimize stock levels by managing reorders and lead times to minimize stockouts or overstock situations. Cost Control: 1.Monitor market trends to anticipate price fluctuations and potential supply chain disruptions. 2.Implement cost-saving initiatives while maintaining product quality. 3.Develop and manage the procurement budget, ensuring alignment with the overall retail business strategy. Procurement Planning: 1.Develop and implement procurement strategies to meet the needs of retail stores, including demand planning and budget management. 2.Collaborate with marketing, sales, and product teams to align procurement activities with retail promotions and product launches. 3.Conduct market research to identify trends, new products, and best practices. Logistics and Supply Chain Coordination: 1.Coordinate with logistics teams/warehouse to ensure timely and accurate delivery of products. 2.Resolve any issues related to delayed shipments, quality discrepancies, or damaged goods. 3.Ensure that all regulatory and compliance standards are met for product shipments and handling. Reporting and Analysis: 1.Monitor procurement performance through key performance indicators (KPIs) such as cost savings, order accuracy, and on-time delivery. 2.Prepare regular reports on procurement activities and present them to senior management. 3.Analyze spending patterns, supplier performance, and market trends to make data-driven decisions. Compliance and Risk Management: 1.Ensure compliance with local and international laws and regulations related to procurement, trade, and sustainability. 2.Identify risks in the supply chain and take proactive measures to mitigate them, including diversifying suppliers or finding alternative sources of products. Collaboration with Internal Teams: 1.Work closely with the merchandising, sales, and operations teams to understand product requirements and improve procurement strategies. 2.Act as a liaison between internal stakeholders and external suppliers to facilitate smooth operations. Sustainability Initiatives: 1.Integrate sustainability practices into procurement strategies, such as sourcing environmentally friendly or ethically produced goods. 2.Promote corporate social responsibility (CSR) initiatives related to procurement. Vendor Performance Evaluation: 1.Regularly assess vendor performance using metrics such as delivery time, product quality, and compliance with contract terms. 2.Develop improvement plans and corrective actions for underperforming vendors. Skills and Qualifications: Education: A degree in business, supply chain management, logistics, or a related field. A certification in procurement (e.g., CIPS) can be beneficial. Experience: Extensive experience in procurement, preferably in the retail sector, with proven expertise in supplier management, inventory control, and contract negotiations. Analytical Skills: Strong ability to analyze data and trends to make informed purchasing decisions. Negotiation Skills: Ability to negotiate effectively with suppliers to obtain favorable terms. Communication Skills: Strong verbal and written communication skills to interact with suppliers, internal teams, and senior management. Attention to Detail: Accuracy in managing orders, contracts, and inventory levels. Project Management: Ability to manage multiple projects and deadlines in a fast-paced retail environment. Knowledge of Retail Operations: Understanding of retail processes, including sales forecasting, merchandising, and customer preferences. In summary, the Procurement Manager in the retail industry is responsible for managing the entire procurement cycle, ensuring the availability of products, controlling costs, and maintaining strong supplier relationships, all while aligning procurement activities with the broader business objectives.