Procurement Manager at Revenstrat Integrated Services

Job Summary

• We are seeking an experienced and detail-oriented Procurement Manager with a background in retail or supermarket environments. This role is responsible for overseeing our procurement processes, ensuring cost-effective purchasing strategies, maintaining relationships with vendors, and managing inventory to meet the organization’s goals. The ideal candidate will have strong analytical skills, excellent negotiation abilities, a thorough understanding of supply chain management and proficiency in using ICG ERP software to streamline and manage procurement functions effectively.

Key Responsibilities

Vendor Management:

• Build and maintain relationships with suppliers, negotiating favorable terms and conditions.
• Evaluate vendor performance and ensure the delivery of high-quality products.

Procurement Processes:

• Develop and implement procurement strategies that align with company goals and budget constraints.
• Ensure the timely procurement of goods, avoiding stockouts and excessive inventory levels.
• Work closely with inventory control to maintain optimal stock levels.

Financial Management:

• Conduct financial analysis to manage and monitor procurement budgets.
• Track and report on savings achieved through cost-effective procurement strategies.

Supply Chain Management:

• Oversee the end-to-end supply chain process, ensuring efficiency and accuracy.
• Address and resolve any supply chain or inventory issues that may arise.

Data Analysis and Reporting:

• Use analytical skills to assess purchasing data, identifying trends and potential cost-saving opportunities.
• Prepare and present reports on procurement activities, savings, and vendor performance.

Compliance and Documentation:

• Ensure all procurement activities adhere to company policies and industry standards.
• Maintain organized records and documentation for auditing purposes.

Team Collaboration:

• Work closely with various departments, including finance, operations, and logistics, to ensure procurement aligns with business needs.
• Assist in training and guiding junior procurement staff as needed.

Key Performance Indicators (KPIs):

• Cost Savings: Achieve target cost reductions (e.g., 5% savings on total procurement spend annually) through negotiation and strategic sourcing.
• Supplier Performance: Ensure at least 95% of suppliers meet or exceed agreed quality and delivery standards.
• Inventory Turnover: Maintain an optimal inventory turnover rate (e.g., 6-8 turns per year), balancing stock levels with demand.
• Procurement Cycle Time: Reduce the average time taken to complete procurement processes, targeting a specific benchmark (e.g., under 10 business days for standard orders).
• Budget Adherence: Stay within the approved procurement budget, minimizing variances and ensuring accurate forecasting.
• Order Accuracy: Maintain a high accuracy rate (e.g., 98%) for purchase orders to ensure correct quantities and specifications.
• Supplier Lead Time: Optimize and reduce supplier lead times, ensuring timely delivery of goods to prevent stockouts.
• Compliance Rate: Achieve 100% compliance with internal procurement policies and external regulatory requirements.
• Cost Savings Through Strategic Sourcing: Track and report on cost savings achieved from improved supplier terms, reduced shipping costs, and bulk purchasing.

Qualifications

• Bachelor’s Degree (BSc) or Higher National Diploma (HND) in Business, Supply Chain Management, Procurement, or a related field (or equivalent work experience)
• Proven experience in procurement, purchasing, or supply chain management, specifically within a retail or supermarket setting
• Professional certification in procurement or supply chain management (e.g., CPSM, CIPS) is preferred.