Our client is looking for a Procurement Specialist to join their team. The core purpose of a procurement specialist is to manage the acquisition of goods and services necessary for an organization to operate efficiently. Their primary responsibilities include identifying suppliers, negotiating contracts, managing vendor relationships, ensuring quality and timely delivery of goods and services, and optimizing procurement processes to minimize costs while maximizing value. Procurement specialists play a vital role in strategic sourcing, cost reduction initiatives, and overall supply chain management within an organization. Responsibilities: Procurement Understanding Product Requirements, Demand Planning, Inventory Management: Thoroughly analyze the products needed by the organization, considering factors such as quantity, specifications, innovation, quality standards, and delivery timelines. Work closely with various departments, including production and sales to understand current needs and forecast future requirements. Through demand planning, ensure that the organization maintains adequate inventory levels to meet customer demands while avoiding stockouts or overstock situations. Anticipate future requirements by engaging with stakeholders, analyzing historical data, and collaborating with suppliers to ensure a seamless supply chain that can adapt to changes in demand patterns or market dynamics. Responsible for optimizing inventory levels to minimize carrying costs while ensuring product availability. This includes monitoring stock levels, replenishment cycles, business peak/off-peak cycles, and lead times to maintain an efficient and responsive supply chain. Implement strategies to manage (reduce and eliminate) aged or obsolete stock. Supplier Management: Ensure signed agreements in place with current and new suppliers, managing termination dates, renewal options, and price adjustment intervals. Evaluate and manage current and potential suppliers based on multiple criteria, including price competitiveness, quality of products or services, compliance with BBBEE (Broad-Based Black Economic Empowerment) requirements, service levels, payment terms, and available rebates or discounts. Conduct thorough supplier assessments through supplier visits and audits, considering factors such as quality assurance systems, production capacity, reputation, past performance, supply and business continuity risk. Engage with suppliers to drive improvement aligned with business requirements and objectives. Benchmarking: Regularly compare the pricing, terms, and performance of current suppliers against industry benchmarks and competitors to identify opportunities for cost savings, efficiency improvements, or product enhancements. Challenge current suppliers to remain competitive to ensure that the organization receives the most favorable pricing and terms possible. Exploration of Alternatives: Proactively seek out alternative products or suppliers to diversify the supply chain, mitigate risks, and drive innovation. Conduct market research and engage in supplier scouting activities to identify potential alternatives. Conduct trials to evaluate the suitability and performance of alternative products or suppliers before making sourcing decisions. Negotiation for Cost Savings: Leverage negotiation skills and market knowledge to secure favorable pricing, discounts, or rebates from suppliers. Analyze cost structures, identify areas for savings, and develop negotiation strategies to achieve cost reductions in line with business targets. Requests for Proposals (RFPs): Initiate and manage the RFP process for sourcing products or services. Define requirements, solicit proposals from potential suppliers, evaluate responses against predetermined criteria, and select the best-suited vendor based on a fair and transparent evaluation process. Understanding Cost Drivers: Analyze the factors that influence the cost of the products or services managed, including raw material prices, labor costs, transportation expenses, and market dynamics. Monitor market trends, supplier cost analyses, and assess the impact of external factors on pricing. #J-18808-Ljbffr