This role is for one of the Weekday's clients

Min Experience: 5 years

Location: Bengaluru

JobType: full-time

We are seeking an experienced Procurement Manager to lead procurement initiatives with a focus on international sourcing and advanced technology components. This role requires expertise in vendor management, inventory optimization, and procurement operations to support complex projects and timelines. The ideal candidate should have a strong understanding of global sourcing, import/export regulations, and procurement of high-value technical components to meet engineering and operational requirements.

Key Responsibilities

Procurement Strategy and Execution

• Develop and implement procurement strategies aligned with business and project goals.
• Manage end-to-end international and domestic procurement processes to ensure timely sourcing and delivery of critical, high-value components.
• Identify, evaluate, and negotiate with domestic and international suppliers to achieve cost efficiency and quality standards.
• Build and maintain strong vendor relationships, monitoring supplier performance using defined KPIs.
• Collaborate with engineering and operations teams to ensure sourced components meet required quality and performance standards.
• Ensure compliance with import/export regulations, international trade laws, and customs requirements.
• Analyze global market trends and pricing to optimize procurement strategies for advanced components.

Inventory Management

• Oversee inventory control to maintain optimal stock levels while minimizing excess inventory and wastage.
• Monitor key inventory metrics, including turnover rates, reorder points, and stock discrepancies.
• Conduct regular audits, reconciliations, and reporting to ensure inventory accuracy.
• Implement and utilize inventory management systems for real-time tracking and forecasting.
• Coordinate with warehouse and logistics teams to ensure proper storage, labeling, and dispatch of components.
• Develop strategies for inventory optimization and risk management to mitigate shortages.
• Manage the movement of inventory between various domestic locations based on project needs.

Administrative Oversight

• Ensure the readiness and maintenance of equipment, including IT assets, capital assets, and other equipment.
• Oversee facility management, including housekeeping services, to maintain a safe and efficient workplace.

Process Optimization and Reporting

• Continuously evaluate procurement and inventory processes to identify areas for improvement, cost savings, and automation.
• Prepare and present reports on procurement activities, supplier performance, and inventory metrics to leadership.
• Ensure all procurement processes comply with internal policies, international regulations, and industry standards.
• Collaborate with cross-functional teams (engineering, finance, and operations) to align procurement strategies with project objectives.

Key Performance Indicators (KPIs)

To measure performance in this role, the following KPIs will be utilized:

•  Cost Savings Achieved – Amount saved through effective negotiation and strategic sourcing.
•  Supplier Compliance Rate – Percentage of suppliers adhering to contractual terms, delivery schedules, and quality standards.
•  Purchase Order Cycle Time – Time taken from purchase order creation to order fulfillment.
•  Inventory Turnover Rate – Frequency at which inventory is utilized and replenished.
•  Procurement ROI – Financial effectiveness of procurement strategies.
•  Supplier Lead Time – Average time suppliers take to deliver goods post-order placement.
•  Purchase Order Accuracy – Percentage of purchase orders processed without errors.
•  Compliance Rate – Adherence to internal procurement policies and external regulatory requirements.

Qualifications and Skills

Education

• Bachelor's degree in Engineering, Supply Chain Management, Business Administration, or a related field.

Experience

•  5+ years of experience in procurement and inventory management, with proven expertise in international sourcing.
• Strong knowledge of advanced technology and high-value component procurement.

Technical Skills

• Proficiency in procurement tools, ERP systems, and inventory management software.
• In-depth understanding of import/export regulations and customs compliance.
• Experience in negotiating contracts with global suppliers.

Key Competencies

• Strong analytical, negotiation, and communication skills.
• Familiarity with standard contract terms.
• Excellent problem-solving ability and attention to detail.
• Ability to thrive in a dynamic, fast-paced environment.

Additional Responsibilities

• Handling warranty-related issues and RMAs (Return Merchandise Authorizations).