Procurement Executive

2 months ago


Dubai, United Arab Emirates LMG GENERAL TRADING LLC Full time

**Job Title: Procurement Executive**

**Overview**:
As a Procurement Executive, you will be responsible for managing the procurement process within the organization. Your primary objective will be to ensure the timely and cost-effective acquisition of goods and services while maintaining high standards of quality. You will collaborate with various stakeholders, negotiate contracts, and implement procurement strategies to optimize operational efficiency and achieve organizational goals.

**Key Responsibilities**:

- **Procurement Planning**: Develop procurement plans in alignment with organizational objectives and budgetary constraints. Analyze demand, assess vendor capabilities, and anticipate future requirements to facilitate smooth procurement operations.
- **Supplier Management**: Identify potential suppliers, evaluate their capabilities, and establish strategic partnerships to ensure a diversified and reliable vendor base. Negotiate terms and conditions, including pricing, delivery schedules, and payment terms, to secure favorable contracts.
- **Sourcing and Selection**: Conduct market research to identify product/service options and evaluate their suitability based on quality, price, and delivery terms. Coordinate with stakeholders to determine requirements and select suppliers that offer the best value proposition.
- **Contract Management**: Draft, review, and finalize procurement contracts in compliance with legal and regulatory requirements. Monitor contract performance, resolve disputes, and enforce adherence to agreed-upon terms and conditions.
- **Order Processing**: Coordinate the processing of purchase orders, ensuring accuracy and timely delivery of goods and services. Verify invoices, resolve discrepancies, and facilitate payments in collaboration with the finance department.
- **Inventory Management**: Collaborate with inventory management teams to maintain optimal stock levels and minimize excess or obsolete inventory. Monitor inventory turnover rates, identify potential shortages or surpluses, and implement corrective actions as necessary.
- **Risk Mitigation**: Identify potential risks in the procurement process, such as supply chain disruptions, price fluctuations, or quality issues. Develop contingency plans and implement risk mitigation strategies to safeguard organizational interests.
- **Compliance and Ethics**: Ensure compliance with relevant laws, regulations, and organizational policies governing procurement activities. Uphold ethical standards and promote transparency, fairness, and integrity in all procurement transactions.
- **Performance Monitoring**: Establish key performance indicators (KPIs) to evaluate the effectiveness of procurement processes and vendor performance. Generate reports, analyze data, and identify opportunities for continuous improvement.

**Qualifications and Skills**:

- Bachelor's degree in business administration, supply chain management, or a related field. Advanced degree or professional certifications (e.g., CSCP, CPSM) preferred.
- Proven experience in procurement, purchasing, or supply chain management, with at least [X years] in a similar role.
- Strong negotiation skills and the ability to build and maintain effective relationships with suppliers and internal stakeholders.
- Excellent analytical skills, with the ability to interpret data, identify trends, and make informed decisions.
- Knowledge of relevant laws, regulations, and industry standards governing procurement practices.
- Effective communication and interpersonal skills, with the ability to collaborate cross-functionally and influence decision-making processes.
- Attention to detail, organizational skills, and the ability to prioritize tasks in a fast-paced environment.

**Salary**: AED3,500.00 - AED4,000.00 per month


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