Key Responsibilities:
Supplier Management: Identify, evaluate, and select suppliers based on cost, quality, and delivery capabilities. Develop and maintain relationships with key suppliers to ensure high-quality service and supply chain reliability.
Procurement Strategy: Develop and implement procurement strategies that align with the companys goals and ensure the availability of materials and supplies. Continuously assess and improve procurement processes.
Contract Negotiation: Negotiate terms and conditions with suppliers, including pricing, delivery schedules, and quality standards. Ensure all contracts comply with company policies and regulatory requirements.
Inventory Management: Monitor inventory levels and manage reorder points to prevent stock outs or overstock situations. Collaborate with the production and supply chain teams to forecast demand and adjust procurement strategies accordingly.
Compliance: Ensure all procurement activities comply with pharmaceutical regulations, including GMP (Good Manufacturing Practices), FDA guidelines, and other relevant standards. Maintain thorough documentation and records of procurement transactions.
Budget Management: Develop and manage the procurement budget. Analyze expenditure trends and identify opportunities for cost savings and process improvements.
Vendor Performance: Evaluate supplier performance regularly and address any issues related to quality, delivery, or service. Implement corrective actions as needed.
Cross-Functional Coordination: Work closely with other departments, including Quality Assurance, Production, and Finance, to ensure alignment on procurement needs and resolve any issues that arise.
Market Analysis: Stay informed about market trends, new products, and emerging technologies in the pharmaceutical industry. Apply this knowledge to make informed purchasing decisions.