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Job Summary:We are seeking a dedicated and detail-oriented Procurement Executive to join our team. This role is crucial in managing all aspects of procurement, including supplier relationships, vendor onboarding, deal negotiations, purchasing, and cost management. The ideal candidate will ensure that Myriad Beauty's supply chain is efficient, cost-effective, and aligned with our quality standards.Key Responsibilities:Supplier and Vendor Management:Manage and maintain relationships with existing suppliers to ensure a consistent and reliable supply chain.Identify, evaluate, and onboard new vendors that meet Myriad Beauty's quality and cost requirements.Negotiate favorable terms and conditions with suppliers, including prices, payment terms, and delivery schedules.Ensure all suppliers and vendors comply with company policies, industry standards, and regulatory requirements.Purchasing and Inventory Coordination:Oversee the procurement of products and materials, ensuring that purchases are aligned with inventory needs and budget constraints.Monitor inventory levels to maintain optimal stock, preventing both overstocking and stockouts.Coordinate with the inventory team to forecast demand and adjust procurement strategies accordingly.Track and manage purchase orders, ensuring timely and accurate delivery of goods.Cost Management and Optimization:Implement cost-saving strategies in procurement activities without compromising product quality.Leverage volume discounts, negotiate better deals, and explore alternative sourcing options to optimize procurement costs.Continuously analyze procurement expenses and supplier performance to identify areas for cost reduction and efficiency improvement.Quality Assurance and Compliance:Work closely with the Inventory team to ensure that all procured products meet Myriad Beauty's quality standards before being added to shelfs.Address any issues related to product quality, delivery times, or supplier performance promptly.Ensure all procurement activities adhere to company policies and relevant regulatory requirements.Cross-Functional Collaboration:Collaborate with other departments, including sales, marketing, logistics, and finance, to ensure that procurement aligns with overall business objectives.Support product development initiatives by sourcing necessary materials and products for new launches.Provide insights and recommendations based on market trends, supplier performance, and procurement data to inform business strategies.Reporting and Documentation:Maintain accurate records of all procurement activities, including contracts, purchase orders, and supplier agreements.Prepare regular reports on procurement performance, cost savings, and market trends for senior management.Ensure that all necessary documentation, such as contracts and regulatory compliance certificates, is up to date and properly filed.Qualifications:Bachelor's degree in Business Administration, Supply Chain Management, or a related field.Proven experience in procurement, purchasing, or supply chain management, preferably in the beauty or retail industry.Strong negotiation skills with a track record of successful supplier negotiations.Excellent organizational skills and attention to detail.Ability to work independently and manage multiple tasks simultaneously.Proficiency in Microsoft Office Suite and procurement software.Strong analytical skills and the ability to interpret data to make informed decisions.Knowledge of industry standards and regulatory requirements related to procurement.
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