The Purchasing Executive is responsible for overseeing the procurement of all goods and services, with a special focus on Petroleum, Oil, and Lubricants (POL). In addition to procurement, the role includes managing store and inventory operations to ensure proper stock levels, storage conditions, and timely replenishment. This position plays a key role in maintaining cost control, ensuring compliance with regulatory standards, and enhancing the efficiency of supply chain operations.
Key Responsibilities:
1. Supplier Management:
• Build and maintain strong relationships with key suppliers and vendors to ensure consistent quality and service.
• Regularly assess supplier performance, including delivery times, quality of goods, and pricing.
• Together with HOD, to negotiate long-term contracts and agreements to secure the best possible rates and terms for the company.
2. Procurement of POL:
• Manage the end-to-end procurement of Petroleum, Oil, and Lubricants (POL) for company operations.
• Identify, evaluate, and negotiate with POL suppliers to secure favorable terms, ensuring product quality, pricing, and timely deliveries.
• Stay informed on market trends, price fluctuations, and product availability to optimize procurement strategies.
3. Store and Inventory Management:
• Oversee the storage and handling of POL and other materials in line with safety and environmental regulations.
• Ensure accurate tracking and monitoring of stock levels, conducting regular stock checks, and managing reorder points.
• Implement best practices for warehouse organization to minimize waste and ensure efficient space utilization.
• Ensure all stock is stored appropriately, adhering to relevant safety and environmental guidelines for POL and other products.
• Coordinate with warehouse and store teams to manage goods receipt, storage, and issue processes effectively.
• Work closely with the storekeeper to monitor inventory turnover and implement measures to prevent stock obsolescence.
4. Inventory Control and Cost Management:
• Maintain optimal inventory levels to meet operational requirements without overstocking.
• Analyze usage patterns and forecast demand for POL and other critical supplies.
• Work with HOD to track and report on inventory costs, ensuring alignment with budgetary goals and identifying potential cost-saving opportunities.
5. Compliance and Quality Assurance:
• Ensure all procurement activities, including POL storage, are compliant with local and international regulations, particularly in regard to health, safety, and environmental standards.
• Collaborate with quality assurance teams to verify that all purchased goods meet the company’s specifications and standards.
6. Reporting and Documentation:
• Maintain accurate procurement and inventory records, including purchase orders, stock levels, supplier contracts, and goods receipt documentation.
• Provide regular reports on procurement activities, stock status, and inventory turnover to the management team.
7. Cross-functional Collaboration:
• Coordinate closely with operations, finance, and maintenance departments to ensure smooth procurement and inventory processes.
• Support project teams in sourcing specialized materials or equipment as needed.
• Work with finance to reconcile stock levels and procurement records for accurate financial reporting.
8. Continuous Improvement:
• Identify and implement process improvements in procurement, store management, and inventory control to optimize operational efficiency.
• Stay updated on industry trends, new technologies, and best practices to enhance procurement and inventory management strategies.
Qualifications:
• Minimum Diploma/Degree in Supply Chain Management, Procurement, Logistics, or a related field.
• Minimum 3 years of experience in procurement, inventory, and store management, with at least 1 year of experience in POL procurement and handling.
Skills:
• Strong negotiation and communication skills.
• Excellent organizational skills with keen attention to detail.
• Knowledge of POL industry standards, storage requirements, and regulatory compliance.
• Experience with store management software (e.g., SAP, Oracle) and inventory tracking systems.
• Proficiency in Microsoft Office Suite.
• Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
