The procurement manager is main responsible for the procurement cycle, overseeing department activities such as sourcing, pricing analysis, negotiation, contracting and supplier relationship management within the organization and overseeing supplier relations and transportation details for a organization. Their duties include evaluating their employers’ brand and target audience to determine what products to order, monitoring delivery times from warehouses to retail locations and hiring and training purchasing staff members to carry out purchasing tasks.
Responsibilities
- Develop sound, cost-effective strategies for the purchasing of materials used in the business.
- Develop risk management procedures to mitigate losses in the event of product shortages.
- Develop and communicate a procurement business plan; establish, communicate, and implement long-term goals for the department to promote effectiveness and efficiency.
- Research, select, and purchase quality products, equipment and services within end-user requested timeline.
- Manage procurement policies, procedures, and programs with a focus on their ability to enhance organizational value and efficiency.
- Build relationships with vendors and suppliers and strongly negotiate for the best price, quantities, and delivery timescales.
- Supervise a purchasing team and delegate tasks across departments when necessary.
- Responsible to maintain the procurement policies, processes and templates including RFI (Request for Information), RFP (Request for Proposal) and RFQ (Request for Quotation).
- Perform detailed reviews of purchase orders, quotations and tender terms and conditions.
- Define sourcing strategy for vendors and suppliers to achieve cost savings that are in line with the bank’s objectives.
- Develop, follow, and enforce the bank’s procurement policies and procedures.
- Liaise with internal stakeholder’s department’s functional requisitioned to support need basics.
- Monitor and work closely with line managers and stakeholders to provide regular updates and escalate issues to ensure deliverables and deadlines are met.
- Maintain relationships with existing suppliers while continuing to source additional vendors.
- Liaise with finance department to make vendors payments within the deadline.