Purchase Executive

NyQuest Innovation Labs; Ernakulam; On-site; INR 450,000 - 650,000; Full time

Job summary

NyQuest Innovation Labs is seeking a procurement professional to manage end-to-end purchasing, supplier coordination and stock control across electronics components. You will forecast needs, issue RFQs, compare quotes, negotiate terms and create POs while ensuring compliance and timely deliveries.

The role requires staying on top of BOMs, maintaining supplier master data, and collaborating with finance and engineering to optimize costs and lead times in a fast-paced environment.

Qualifications

• 2+ years of experience in procurement / stock management in electronics or related industry.
• Proficiency in ERP & MS Office.
• Excellent communication & analytical skills.

Responsibilities

• Get monthly purchase forecasts from all relevant departments.
• Raise RFQ for purchase requisitions raised by team and share with suppliers.
• Negotiate with vendors on price, payment terms and delivery lead times.
• Prepare and release purchase orders and coordinate with finance for payments.

Skills

Procurement

Stock management

Vendor negotiation

Communication

Tools

ERP

MS Office

Job description

• Get monthly purchase forecasts from all relevant departments.
• Raise RFQ for purchase requisitions raised by team
• Share RFQ with suppliers, get quotes and verify specifications
• Negotiation with vendors on price, payment terms and delivery lead times
• Prepare and release purchase orders and raise payment indent to finance department for release of advance/ payments
• Keep a track of long lead time items and follow up with suppliers for timely delivery
• Point of contact for freight forwarders and transporters. Coordinate with them for material delivery
• Receive items and transfer them to the relevant department. Maintain copies of invoices and delivery notes
• Overseas Purchase
• Payments to be made via credit card / wire transfer. Coordinate with the finance team for all documentations and submit relevant documents to the bank if wire transfer is required.
• Make sure the supplier dispatches material with proper import documentation. [Signed Invoice with full address, AWB and PO details]
• Import components with HSN 8542 3100, 8542 3200, 8542 3300, 8542 3900, 8542 9000 to be registered every time in CHIMS portal. Certificate to be obtained from portal after adding purchase details
• Customs duty clearance- Submit CHIMS, KYC and other documents required for customs clearance to freight forwarder. Coordinate with them to avoid late fee/ demurrage charges.
• Get copy of BoE (Bill of Entry) and invoice after delivery and submit to bank for their reference
• Create and maintain a master purchase tracker document for tracking all purchases. The document to track PR, PO, Invoices, lead time and delivery dates
• Online Purchase
• Create and maintain company accounts in online purchase stores
• Add materials to cart from PR and raise payment indent to finance team for clearing payment
• Liaise with suppliers in deviations in quantity and quality of material delivered.
• Supplier master list management and audit.
• Identify new suppliers, get samples and add them to the master list.
• Keep a track of end of life components and update the engineering team about similar/alternate models.
• BOM preparation
• BOM verification & release via ECN/ECO

Cost Reduction

• Identify high cost components in BOM and look for alternates
• Identify alternate suppliers, arrange samples and deliver them to the Engineering team for validation.
• Update BOM and release via ECN/ECO

Stock

• Maintain a master list of all items purchased and in inventory.
• Categorize stock to raw materials, consumables, finished goods and fixed assets.
• Develop a system to ID, track and store all the materials in office and other stock areas
• Get stock transfer request from team and approve material outgo from stock
• Handle inward and outward registers for all material movement

Requirements

• 2+ years of experience in procurement / stock management in electronics or related industry.
• Proficiency in ERP & MS Office.
• Excellent communication & analytical skills.