What are the responsibilities and job description for the PROCUREMENT SPECIALIST position at Capricor Inc?
About Capricor Therapeutics
Capricor Therapeutics is a forward-thinking biotechnology company dedicated to developing transformative therapies for rare diseases, with a primary focus on Duchenne muscular dystrophy (DMD). Leveraging our proprietary StealthX™ platform, we pioneer cell therapy and exosome-based technologies to address unmet medical needs and push the boundaries of medical science. Our collaborative, innovative, and mission-driven team is committed to improving lives through cutting-edge solutions. Join us as we scale our operations and redefine the future of biotechnology.
About the Role
Capricor Therapeutics is seeking a highly skilled and detail-oriented Procurement Specialist to join our team. This critical role will manage the procurement of biotech materials and services, ensuring the timely and cost-effective acquisition of quality supplies that meet the organization’s requirements. You will play a key part in driving our procurement strategies, maintaining strong vendor relationships, and supporting our mission by ensuring operational efficiency in a fast-paced, science-driven environment. This is an opportunity to contribute to a world-class biotech organization while growing your career in a dynamic and impactful field.
Responsibilities
• Develop and manage the end-to-end procurement process for biotech materials, equipment, and services, ensuring alignment with organizational needs and goals.
• Assist in creating and implementing procurement strategies to optimize cost, quality, and delivery timelines.
• Establish and maintain strong vendor relationships, monitoring OTIF (On Time, In Full) performance and negotiating contracts, terms, and pricing for advantageous deals.
• Utilize and support the implementation of e-tools (e.g., ERP systems) to streamline procurement processes and enhance program efficiency.
• Prepare and issue purchase orders, change notices, and maintain accurate procurement documentation.
• Evaluate and select suppliers based on pricing, cost-effectiveness, availability, and quality, conducting regular performance reviews and audits to ensure compliance.
• Address supplier issues promptly and collaboratively to maintain supply chain reliability.
• Monitor inventory levels to balance adequate supply with efficient stock management, coordinating with warehouse and logistics teams.
• Implement and manage systems for tracking inventory and procurement activities, ensuring transparency and accuracy.
• Ensure all procurement activities comply with company policies, regulatory requirements, and quality standards, maintaining detailed records of purchases, contracts, and agreements.
• Work within budgetary constraints to achieve cost savings, monitor expenditures, and identify opportunities for cost reduction and process improvement.
• Collaborate with cross-functional teams to understand procurement needs, align with business goals, and support project initiatives.
• Perform other duties as assigned to support the team and organization.
Requirements
• Bachelor’s degree in Life Sciences, Business, Supply Chain Management, or a related field (advanced degree is a plus).
• Minimum of 1-2 years of procurement experience in the biotech, pharmaceutical, or life sciences industries.
• Strong knowledge of biotech materials, equipment, and supplier ecosystems.
• Proven negotiation, contract management, and supplier relationship management skills.
• Excellent organizational, analytical, and problem-solving abilities.
• Proficiency in procurement software and tools, with advanced skills in Microsoft Excel (data analysis, pivot tables, complex formulas).
• Strong written and verbal communication skills, with the ability to convey instructions and collaborate effectively.
• Ability to thrive in a fast-paced, dynamic environment, working both independently and as part of a team.
• Familiarity with regulatory requirements and quality standards in the biotech industry.
• Team-oriented mindset with accountability for delivering business targets and taking responsibility for outcomes.
• Certification in Procurement or Supply Chain Management (e.g., CPIM, CSCP, CPSM) preferred.
• Experience with ERP systems and procurement software is a plus.
Work Environment / Physical Demands
• Primarily office-based, requiring the ability to sit and stand for extended periods.
• Must be able to communicate efficiently via telephone or in person and complete required paperwork.
• May require extended or off-hours work (including weekends or holidays) based on company needs.
Compensation (USD)
• We offer a competitive compensation package, including comprehensive benefits (health insurance, 401k matching, generous leave policies), stock options, and opportunities to grow alongside a pioneering biotech leader.
Role-Specific Location Policy
This role is based at our headquarters in La Jolla, California, and requires a full-time, on-site presence of 5 days per week to support procurement operations and collaboration with our team. We value the energy and synergy that come from working together in person, and occasional weekend availability may also be needed to meet company demands. Your contributions in this dynamic setting will directly impact our mission and success.
Come Work With Us!
Headquartered in San Diego, California, Capricor Therapeutics offers a vibrant, collaborative workplace where innovation meets purpose. Enjoy a supportive team culture and the chance to contribute to life-changing science. Join us as we scale our impact and shape the future of biotechnology!
