1. Developing and implementing procurement strategies and policies for cost optimization and enhancing supply chain efficiency.
2. Identifying, evaluating and selecting suppliers based on quality, reliability, cost-effectiveness and adherence to ethical and sustainability standards.
3. Negotiating contracts and terms with suppliers to ensure favorable pricing, payment terms and mutually beneficial agreements.
4. Conducting market research and analysis to stay updated on industry trends, supplier capabilities and pricing fluctuations.
5. Monitoring inventory levels, analyzing demand patterns and implementing inventory management strategies to manage stock levels and avoid shortages or excesses.