Procurement ExecutivE

Company: LMES Academy Pvt Ltd

Website: https://lmes.in/

Linkedin: https://www.linkedin.com/company/lmes-academy/mycompany/

Location: Urapakkam and Pallavaram, Chennai.

Experience: 4 years

Position: Procurement Analyst

Type: Full Time

Job Description:

The Procurement Analyst will be responsible for managing procurement activities and analyzing inventory needs. This role requires working closely with suppliers, internal teams, and inventory staff to optimize procurement processes, reduce costs, and maintain accurate inventory levels. The ideal candidate should possess strong analytical skills, a keen understanding of supply chain management, and the ability to enhance procurement strategies through data-driven insights.

Key Responsibilities:

Procurement & Sourcing:

Analyze procurement data and market trends to identify cost-saving opportunities and optimize purchasing decisions.

Identify, evaluate, and onboard new suppliers while maintaining strong relationships with existing vendors.

Negotiate contracts and pricing agreements to ensure cost-effectiveness and quality assurance.

Develop and implement procurement strategies aligned with business goals.

Ensure compliance with company policies, industry regulations, and ethical sourcing practices.

Inventory Management & Control:

Monitor inventory levels, track stock movement, and ensure optimal stock availability.

Conduct demand forecasting to prevent overstocking or stock outs.

Implement best practices for inventory control and develop strategies to reduce excess or obsolete stock.

Conduct regular inventory audits and generate reports on stock discrepancies.

Ensure proper documentation and compliance with safety regulations in warehouse operations.

Reporting & Data Analysis:

Generate reports on procurement performance, supplier metrics, and inventory status.

Analyze key procurement and inventory KPIs to identify trends and areas for improvement.

Develop dashboards and visual reports to support data-driven decision-making.