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:
- Develop and implement procurement strategies aligned with company goals and objectives.
- Analyze market trends and make recommendations for improving procurement processes and practices.
- Identify, evaluate, and select suppliers to meet company needs.
- Negotiate contracts and manage supplier relationships to ensure performance and compliance.
- Lead the negotiation of contracts, ensuring favorable terms and conditions.
- Review and approve contract terms, ensuring they meet legal and regulatory requirements.
- Manage and mentor the procurement team, fostering a high-performance culture.
- Provide guidance and support for professional development and career growth.
- Develop and manage the procurement budget, ensuring cost-effectiveness and alignment with financial goals.
- Monitor and report on procurement spend and savings.
- 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.
- Ability to lead and manage a team effectively.
- Proficiency in procurement software and tools.
- Strong analytical and problem-solving skills.