What are the responsibilities and job description for the Procurement Specialist position at Risus Talent Partners?
Job Summary
Risus Talent Partners is seeking a highly skilled Procurement Specialist to join our team. As a key member of our procurement team, you will be responsible for sourcing, purchasing, and inventory management of assigned product lines.
Key Responsibilities:
- Develop and implement strategic sourcing plans aligning with company objectives and customer requirements.
- SOURCE, PURCHASE, AND MANAGE INVENTORY FOR ASSIGNED PRODUCT LINES, ENSURING PRODUCT AVAILABILITY AND OPTIMIZING INVENTORY ASSET PERFORMANCE.
- Cultivate and maintain strong relationships with vendors to drive collaboration, secure favorable pricing, and ensure compliance with company quality standards.
- Negotiate and manage supplier agreements, including terms, pricing, volume rebates, and cost-saving opportunities.
- Conduct supplier performance evaluations, addressing issues and driving continuous improvement initiatives.
- Ensure timely and accurate processing of customer orders, purchase orders, and quotation requests following approved procedures.
- Utilize procurement databases (e.g., ProcurePro, Amtech) to evaluate pricing, analyze market trends, and ensure sourcing from the best suppliers.
- Monitor inventory levels, minimizing excess stock while maintaining high fill rates (95% or higher on stock items).
- Collaborate cross-functionally with sales, operations, and customer service teams to ensure seamless execution of sourcing, procurement, and order fulfillment processes.
- Participate in SupplyOne Procurement Council, leveraging it to identify vendors and sourcing solutions.
- Ensure adherence to standardized procurement and inventory management protocols.
- Validate and negotiate vendor price increases, ensuring competitiveness and cost efficiency.
- Manage vendor performance KPIs such as on-time delivery, fill rate, and quality assurance compliance.
- Identify and recommend best sources for products based on quality, pricing, delivery reliability, and supplier capabilities.
- Coordinate with suppliers for samples as needed by Sales, ensuring minimal delay and cost impact.
- Stay informed about industry regulations, market dynamics, and emerging trends that may impact sourcing and procurement strategies.
Requirements
- Bachelor's Degree or equivalent business experience
- 3 years of work experience in purchasing, strategic sourcing, negotiation, inventory management and vendor management.
- Packaging industry and distribution experience is preferred
- Critical thinking and negotiation skills.
- Knowledge of business principles is advantageous
