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About the Role
The Procurement / Inventory Manager leads procurement, supplier management, inventory control, and material planning. This role ensures material availability for production while controlling costs, maintaining inventory accuracy, reducing excess stock, and improving supply chain efficiency. The position reports to the General Manager and collaborates with various departments.
Responsibilities
- Lead purchasing and inventory activities, establishing priorities, controls, and performance expectations.
- Develop and execute procurement strategies supporting production, cost targets, quality standards, and business objectives.
- Lead supplier sourcing, evaluation, selection, negotiation, and relationship management.
- Negotiate pricing, terms, lead times, service levels, and supply agreements.
- Provide direction, training, and support to purchasing, inventory, receiving, and material control staff.
- Escalate significant supply, cost, quality, or inventory risks to the General Manager with recommended actions.
- Collect, analyze, and interpret purchasing and inventory data, including spend, supplier performance, pricing trends, inventory turnover, and stock levels.
- Develop and maintain reports, dashboards, and metrics for key purchasing and inventory KPIs.
- Identify variances and trends in data, recommending corrective actions or improvements.
- 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 levels, and replenishment controls.
- Monitor inventory availability and balance production requirements against excess, slow-moving, and obsolete stock.
- Coordinate with warehouse and production teams for accurate transactions, efficient material flow, and timely replenishments.
- Oversee cycle counts, physical inventory counts, investigations, and reconciliations.
- Lead plans to reduce or eliminate low margin, underutilized, non-performing, or obsolete materials.
- Approve and coordinate material substitutions or disposition recommendations.
- Assess new and existing suppliers based on cost, quality, delivery, capacity, financial stability, responsiveness, and operational capability.
- Monitor supplier performance and lead corrective actions when performance falls below expectations.
- Maintain appropriate supplier records, pricing information, agreements, and performance documentation.
- Conduct market research to identify alternative suppliers, materials, and technologies.
- 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.
- Contribute to the development and implementation of best practices in procurement and inventory control.
- Drive material reduction plans focused 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.
Skills
- Data analysis
- Reporting
- Microsoft Excel (advanced proficiency)
- Analytical skills
- Problem-solving
- Communication (written and verbal)
- Interpersonal skills
- Negotiation
- Purchasing
- Supplier relationship management
- Inventory control
- Attention to detail
- Accuracy
Experience Level
- 2-3 years
Education Level
- Bachelor's degree