JOB TITLE: PROCUREMENT ANALYST
Summary Position
Procurement Analyst will be responsible for managing the procurement process for pharmaceuticals and related products. This includes analyzing supply needs, negotiating with suppliers, ensuring compliance with regulations, and optimizing inventory levels to support store operations and customer satisfaction.
Education: Bachelors degree in Supply Chain Management, Business Administration, Pharmacy, or a related field.
Experience: Minimum of 2-3 years of experience in procurement, preferably within the pharmaceutical or retail industry.
Key Responsibilities
Procurement Management:
- Source and evaluate suppliers for pharmaceuticals and other category products.
- Negotiate contracts, terms, and prices with suppliers to ensure cost-effectiveness, coordinating with the buyer during negotiations.
- Develop and maintain strong relationships with suppliers and vendors.
Inventory Control
- Monitor inventory levels and forecast demand to ensure optimal stock levels.
- Implement inventory management strategies to minimize waste and reduce costs.
- Coordinate with store managers and pharmacists to understand inventory needs and address any discrepancies.
Data Analysis And Reporting
- Analyze procurement data to identify trends, potential risks, and opportunities for cost savings.
- Prepare and present regular reports on procurement activities, including spend analysis and supplier performance.
- Utilize data analytics tools to improve procurement processes and decision-making.
Budget Management
- Develop and manage the procurement budget, ensuring alignment with company financial goals.
- Monitor expenditures and ensure procurement activities stay within budget.
- Identify and implement cost-saving opportunities without compromising on quality or service.
Compliance And Quality Assurance
- Ensure all procurement activities comply with relevant laws, regulations, and company policies.
- Conduct regular audits of supplier performance and product quality.
- Stay updated on industry standards and changes in pharmaceutical regulations.
Operational Support
- Collaborate with the finance team to manage budgets and financial forecasts related to procurement.
- Work with the logistics team to ensure timely delivery of products to stores.
- Support store operations by resolving any procurement-related issues promptly.
- Support store operations by resolving any procurement-related issues promptly.