JOB DESCRIPTION

• Developing demands and forecasting plans to ensure adequate stock levels are maintained.

• Ensuring and verifying that quotations are regularly maintained as well as the suppliers’ latest pricing are kept and updated timely.

• Maintaining the vendor’s database and ensuring the database is retrievable at all times.

• Sourcing and procuring the required products as well as the desired materials. It will be crucial for the incumbent to have in-depth knowledge of the materials and products as to ensure the quality.

• Adapting and adopting the procurement functions, i.e. studying the pricing of materials, selecting the vendors to supply the materials, negotiating the pricing, terms of payments, contracts, monitoring vendor’s performance, reviewing the quotations as well as ensuring the requirements are met according to the policies of the Company.

• Taking corrective and preventive actions on the delivery of defective and unacceptable goods.

• Continually sourcing new materials in a timely and cost effective manner.

• Assessing and evaluating the vendor management from time to time.

• Cultivating and maintaining strong relationships with suppliers to ensure timely delivery of high-quality products.

• Collaborating with internal departments to understand their procurement needs.

• Developing and implementing procurement strategies to optimize inventory levels, minimize stockouts, and reduce procurement lead times.

• Analyzing pricing proposals, supplier quotes, and market data to identify cost-saving opportunities and recommend alternative sourcing strategies.

• Tracking procurement expenses, budget variances, and cost-saving initiatives to achieve financial objectives.

• Implementing measures to control costs, such as volume discounts, supplier consolidation, and standardization of specifications.

• Working closely with team members to establish and maintain product quality standards throughout the supply chain.

• Conducting market research to study on the latest products available in the market that are applicable to the Company.