Procurement Specialist (or Chief Procurement Officer)

As a Procurement Specialist, your role will be to oversee and support the procurement activities of the organization. You will be responsible for sourcing, negotiating, and procuring goods and services required for various projects and operations. You will collaborate with internal departments, suppliers, and vendors to ensure timely, cost-effective and efficient procurement processes. Additionally, you will monitor supplier performance and maintain strong relationships to secure the best quality products and services at competitive prices. The ideal candidate should possess extensive knowledge of procurement best practices and a proven track record of optimizing procurement processes.

Key Duties & Responsibilities

Procurement Strategy and Planning:

• Collaborate with management to develop and implement procurement strategies aligned with organizational goals and objectives.
• Conduct market research and analysis to identify potential suppliers, trends, and market conditions.
• Develop procurement plans, including sourcing strategies, cost analysis, and supplier selection criteria.

Sourcing and Supplier Management:

• Source and evaluate potential suppliers/vendors, ensuring compliance with procurement policies and quality standards.
• Negotiate pricing, terms, and contracts with suppliers to obtain the best value and favorable terms for the organization.
• Maintain and update the list of approved suppliers, regularly evaluating their performance, quality, and delivery capabilities.
• Conduct supplier audits and performance evaluations to ensure adherence to contractual terms and conditions.

Purchase Order Processing and Execution:

• Collaborate with internal stakeholders to assess procurement needs and specifications.
• Prepare and process purchase orders, ensuring accurate and timely execution.
• Monitor and track purchase orders to ensure timely delivery of goods and services.
• Resolve any issues or discrepancies related to orders, invoices, or deliveries.

Compliance and Risk Management:

• Monitor and ensure compliance with relevant procurement policies, procedures, and legal regulations.
• Identify and mitigate potential risks related to procurement activities.
• Implement and maintain a robust supplier qualification and evaluation system.
• Conduct regular audits and reviews of procurement processes to ensure adherence to policies and procedures.

Budget Management and Cost Optimization:

• Collaborate with the Finance Department or the company to develop and manage procurement budgets, ensuring proper allocation of funds and adherence to financial guidelines.
• Conduct cost analysis and implement cost-saving measures to optimize procurement processes and achieve budgetary objectives.
• Engage in proactive purchase planning by identifying opportunities for strategic bulk purchases, long-term contracts, and supplier partnerships to leverage economies of scale and drive cost savings.
• Evaluate alternative products and suppliers to identify cost-effective options without compromising quality or performance.
• Monitor and track procurement expenditures against budgetary limits and report any budget variances to Management.
• Regularly analyze and report on procurement metrics, such as cost savings achieved, supplier performance, and cost avoidance initiatives.

Proactive Purchase Planning:

• Develop and implement a proactive purchase planning process to anticipate future demand and ensure timely availability of goods and services.
• Collaborate with internal stakeholders, including operations, finance, petroleum, generation, distribution, maintenance, shipping, sales, commercial, etc. to understand their requirements and align procurement activities accordingly.
• Monitor market trends, technological advancements, and industry changes to identify opportunities for strategic procurement partnerships and cost-effective purchases.
• Conduct thorough analysis of historical data, market forecasts, and supplier capabilities to inform purchase planning decisions.

Cost-saving Measures:

Implement cost-saving strategies, such as supplier consolidation, negotiation for volume discounts, and strategic sourcing initiatives.

• Conduct regular cost analyses and price benchmarking to identify cost-saving opportunities without compromising quality.
• Collaborate with suppliers to explore value engineering options and identify alternative materials or processes that can lead to cost reductions.
• Continuously evaluate and optimize procurement processes to streamline operations, reduce overhead costs, and improve efficiency.
• Identify and implement sustainable procurement practices that align with cost-saving objectives.

Bid Preparation, Evaluation, and Awarding:

• Prepare and coordinate bid invitations, requests for proposals (RFPs), and price quotations documents in accordance with organizational guidelines and procurement policies.
• Collaborate with cross-functional teams to identify procurement needs and requirements, ensuring clear and comprehensive specifications in bid documents.
• Assist bid evaluation committee in evaluating bids, proposals, and price quotations received from suppliers/vendors, considering factors such as cost, quality, delivery time, and compliance with specifications.
• Facilitate bid evaluation meetings or committees, ensuring fairness and objectivity in the assessment process.
• Conduct supplier performance evaluations and reference checks to determine suitability for awarding contracts.
• Prepare detailed evaluation reports and recommendations, highlighting the strengths, weaknesses, and risks associated with different bid submissions.
• Collaborate with legal or contracts team to review and finalize contract terms and conditions, ensuring alignment with procurement requirements and mitigating potential risks.
• Coordinate the contract award process, including the issuance of purchase orders or contracts to successful suppliers and the communication of outcomes to all relevant stakeholders.
• Maintain accurate and up-to-date records of bid evaluation and awarding activities, ensuring transparency, traceability, and compliance with procurement regulations.

Qualifications & Skills

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Proven experience as a Procurement Specialist or in a similar role.
• In-depth knowledge of procurement principles, practices, and procedures.
• Strong negotiation skills.
• Excellent analytical and problem-solving abilities.
• Proficient and experienced working with or in using procurement software and systems such as Microix or other purchasing management systems.
• Ability to effectively navigate and leverage these purchasing systems to streamline procurement processes and maximize efficiency.
• Strong attention to detail and organizational skills.
• Ability to work well under pressure and meet tight deadlines.
• Effective communication and interpersonal skills.
• Possess a deep understanding of procurement principles, practices, and procedures. Demonstrated experience in implementing and managing procurement processes efficiently.
• Ability to analyze and interpret financial data, market trends, and supplier performance metrics.
• Proficient in conducting cost analysis and identifying cost-saving opportunities.
• Excellent negotiation skills to secure favorable terms, pricing, and contracts with suppliers.
• Strong ability to build and maintain professional relationships to achieve optimal outcomes for the organization.
• Meticulous attention to detail to ensure accurate processing of purchase orders, contracts, and invoices. Ability to identify discrepancies and resolve issues promptly and effectively.
• Understanding of financial principles, including budgeting, cost control, and forecasting. Ability to manage procurement budgets, track expenditures, and make informed decisions to optimize costs and achieve budgetary objectives.
• Strong organizational skills to manage multiple procurement projects simultaneously and meet deadlines. Ability to effectively prioritize tasks and allocate resources to ensure efficient and timely procurement execution.
• Proactive approach to identify and implement process improvements within the procurement function. Ability to stay updated with industry best practices, market trends, and emerging technologies in procurement.
• Effective verbal and written communication skills to collaborate with internal stakeholders, suppliers, and vendors. Ability to clearly articulate procurement requirements, negotiate terms, and maintain effective lines of communication throughout the procurement process.
• Strong interpersonal skills and the ability to work collaboratively as part of a cross-functional team. Willingness to share knowledge, provide support, and contribute to the overall success of the procurement department and the organization as a whole.
• Professional certifications such as Certified Professional in Supply Management (CPSM) or Certified Professional in Supplier Diversity (CPSD) are a plus.