Procurement/Inventory Manager

Job Description (Function and Responsibilities):

• Lead purchasing and inventory activities and establish priorities, controls and performance expectations for the function.
• Develop and execute procurement strategies that support production requirements, cost targets, quality standards, and business objectives.
• Lead supplier sourcing, evaluation, selection, negotiation, and ongoing relationship management.
• Negotiate pricing terms, lead times, service levels and supply agreements while protecting continuity of supply.
• Provide direction, training, and support to employees involved in purchasing, inventory, receiving, and material control processes.
• Escalate significant supply, cost, quality, or inventory risks to the General Manager with recommended actions.

• Collect, analyze, and interpret complex purchasing and inventory data, including spend analysis, supplier performance, pricing trends, inventory turnover, and stock levels.
• Develop and maintain reports, dashboards, and metrics to track key purchasing and inventory KPIs (e.g., days on hand, reorder points, obsolete stock).
• Identify variances and trends in purchasing and inventory data and recommend corrective actions or opportunities for improvement.
• Conduct customer product uses analysis to determine product benefits or needed substitutions.
• Prepare regular procurement and inventory updates for management.

• Establish and maintain inventory policies, reorder points, safety stock level, and replenish controls.
• Monitor inventory availability and balance production requirements against excess, slow-moving, and obsolete stock.
• Coordinate with warehouse and production teams to support accurate transactions, efficient material flow and timely replenishments.
• Oversee cycle counts, physical inventory counts, investigations, and reconciliations to maintain inventory accuracy.
• Lead plans to reduce or eliminate low margin, underutilized, non-performing, or obsolete materials.
• Approve and coordinate material substitutions or disposition recommendations with the appropriate internal departments.

• Assess new and exciting suppliers based on cost, quality, delivery, capacity, financial stability, responsiveness, and operational capability.
• Monitor supplier performance against agreed requirements and lead corrective action when performance falls below expectations.
• Maintain appropriate supplier records, pricing information, agreements, and performance documentations.
• Conduct market research to identify alternative suppliers, materials, and technologies that may improve cost, quality, or supply continuity.

• Collaborate with production planning and inventory control teams to align material requirements with forecasts, lead times, and safety stock levels.
• Analyze demand forecasts and their impact on purchasing and inventory decisions.
• Identify and mitigate potential supply chain and inventory risks.

• Identify and recommend improvements to purchasing and inventory management processes, systems, and tools to enhance efficiency and accuracy.
• Contribute to the development and implementation of best practices in procurement and inventory control.
• Drive material reduction plans focus on eliminating low-margin or underutilized materials.

• Work closely with engineering, production, quality, inventory, and finance departments to ensure alignment on material specifications, delivery schedules, inventory targets, and cost goals.
• Provide procurement and inventory support for new product development initiatives.

Requirements:

• Bachelor’s degree in supply chain management, Business Administration, Finance, Economics, or a related field.
• 2–3 years of experience in purchasing, procurement, inventory management, or supply chain analysis, preferably within a manufacturing environment.
• Proven experience with data analysis and reporting, including advanced proficiency in Microsoft Excel
• Strong analytical and problem-solving skills with the ability to interpret complex data and draw actionable conclusions.
• Excellent communication (written and verbal) and interpersonal skills, with the ability to build rapport and negotiate effectively.
• Knowledge of purchasing, supplier relationship management, inventory control principles and best practices.
• Ability to work independently and collaboratively in a fast-paced manufacturing environment.
• Strong attention to detail and accuracy.