Procurement/Inventory Manager

The Procurement / Inventory Manager is responsible for leading procurement, supplier management, inventory control, and material planning activities. The role ensures materials are available to meet production requirements while controlling cost, maintaining inventory accuracy, reducing excess and obsolete stock, and improving the overall efficiency of the supply chain. This position reports to the General Manager and works closely with production, warehouse, quality, engineering, finance, and customer-facing departments.

Job Description (Function and Responsibilities):

Leadership and Strategic Procurement:

• Lead purchasing and inventory activities and establish priorities, controls and performance expectations for the function.
• Develop and execute procurement strategies that support production requirements, cost targets, quality standards, and business objectives.
• Lead supplier sourcing, evaluation, selection, negotiation, and ongoing relationship management.
• Negotiate pricing terms, lead times, service levels and supply agreements while protecting continuity of supply.
• Provide direction, training, and support to employees involved in purchasing, inventory, receiving, and material control processes.
• Escalate significant supply, cost, quality, or inventory risks to the General Manager with recommended actions.

Data Analysis & Reporting:

• Collect, analyze, and interpret complex purchasing and inventory data, including spend analysis, supplier performance, pricing trends, inventory turnover, and stock levels.
• Develop and maintain reports, dashboards, and metrics to track key purchasing and inventory KPIs (e.g., days on hand, reorder points, obsolete stock).
• Identify variances and trends in purchasing and inventory data and recommend corrective actions or opportunities for improvement.
• Conduct customer product uses analysis to determine product benefits or needed substitutions.
• Prepare regular procurement and inventory updates for management.

Inventory Management:

• Establish and maintain inventory policies, reorder points, safety stock level, and replenish controls.
• Monitor inventory availability and balance production requirements against excess, slow-moving, and obsolete stock.
• Coordinate with warehouse and production teams to support accurate transactions, efficient material flow and timely replenishments.
• Oversee cycle counts, physical inventory counts, investigations, and reconciliations to maintain inventory accuracy.
• Lead plans to reduce or eliminate low margin, underutilized, non-performing, or obsolete materials.
• Approve and coordinate material substitutions or disposition recommendations with the appropriate internal departments.

Supplier Management:

• Assess new and exciting suppliers based on cost, quality, delivery, capacity, financial stability, responsiveness, and operational capability.
• Monitor supplier performance against agreed requirements and lead corrective action when performance falls below expectations.
• Maintain appropriate supplier records, pricing information, agreements, and performance documentations.
• Conduct market research to identify alternative suppliers, materials, and technologies that may improve cost, quality, or supply continuity.

Forecast & Demand Planning:

• 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.

Process Improvement:

• Identify and recommend improvements to purchasing and inventory management processes, systems, and tools to enhance efficiency and accuracy.
• Contribute to the development and implementation of best practices in procurement and inventory control.
• Drive material reduction plans focus on eliminating low-margin or underutilized materials.

Cross-functional Collaboration:

• 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.