Key Tasks & Responsibilities:
- Develop and execute comprehensive procurement strategies for the assigned product category, aligning with the company's overall procurement goals and objectives.
- Identify potential suppliers, evaluate their capabilities, negotiate contracts, and establish partnerships that provide competitive advantages in terms of pricing, quality, and deliveries.
- Monitor market trends, industry developments, and supplier performance to proactively adjust sourcing strategies as needed.
- Analyze product demand, sales data, and inventory levels to ensure optimal stock levels within the category, avoiding overstock or stock outs.
- Collaborate with cross-functional teams, including sales, marketing, and operations, to align category strategies with overall business objectives.
- Conduct regular supplier performance reviews, addressing any issues or concerns promptly to maintain a healthy supplier relationship.
- Lead negotiation efforts to secure favorable terms and conditions for contracts, ensuring the best possible value for the company.
- Stay informed about regulatory changes and compliance requirements related to the assigned category, ensuring all sourcing activities adhere to legal and ethical standards.
- Drive continuous improvement initiatives within the procurement process, identifying areas for cost savings, efficiency improvements, and risk mitigation.
- Prepare and present regular reports on category performance, sourcing metrics, and cost analysis to relevant stakeholders.