The Head of Procurement is responsible for overseeing the procurement function of the organization, ensuring the acquisition of goods and services in a cost-effective, efficient, and ethical manner. This role involves strategic planning, vendor management, contract negotiation, and collaboration with other departments to support the company's overall objectives.
Key Responsibilities:
Strategic Planning:
Develop and implement procurement strategies aligned with company goals and objectives.
Analyze market trends and make recommendations for improving procurement processes and practices.
Vendor Management:
Identify, evaluate, and select suppliers to meet company needs.
Negotiate contracts and manage supplier relationships to ensure performance and compliance.
Contract Negotiation:
Lead the negotiation of contracts, ensuring favorable terms and conditions.
Review and approve contract terms, ensuring they meet legal and regulatory requirements.
Team Leadership:
Manage and mentor the procurement team, fostering a high-performance culture.
Provide guidance and support for professional development and career growth.
Budget Management:
Develop and manage the procurement budget, ensuring cost-effectiveness and alignment with financial goals.
Monitor and report on procurement spend and savings.
Process Improvement:
Implement and maintain procurement policies and procedures.
Continuously review and improve procurement processes to enhance efficiency and effectiveness.
Stakeholder Collaboration:
Collaborate with internal stakeholders to understand their needs and provide procurement support.
Ensure alignment of procurement activities with departmental and organizational objectives.
Compliance and Risk Management:
Ensure procurement activities comply with legal, regulatory, and ethical standards.
Identify and mitigate procurement risks to protect the organization.
Data Analysis and Reporting:
Analyze procurement data and prepare reports to support decision-making and strategic planning.
Track key performance indicators (KPIs) and measure the effectiveness of procurement activities.
Qualifications:
Bachelor's degree in Business Administration, Supply Chain Management, or a related field (Master's degree preferred).
Professional certification (e.g., CIPS, CPSM) is a plus.
Proven experience (typically 7+ years) in procurement or supply chain management, with a track record of increasing responsibility.
Strong knowledge of procurement principles, practices, and strategies.
Excellent negotiation, communication, and interpersonal skills.