Procurement Specialist

Wa'ed Ventures; Dhahran Compound; On-site; SAR 150,000 - 200,000; Full time

Job summary

A leading investment firm in Dhahran Compound is seeking an experienced procurement manager to oversee planning and executing procurement activities. The ideal candidate will manage supplier relationships, negotiate contracts, and ensure compliance with procurement policies. A Bachelor's degree in Business Management and 5-10 years of relevant experience are required. This position offers an opportunity to contribute to cost-saving strategies and operational improvements.

Qualifications

• 5-10 years of experience in procurement or related field.
• Strong analytical and problem-solving skills.

Responsibilities

• Manage procurement activities and contract execution.
• Develop and execute sourcing strategies for materials.
• Negotiate contracts to achieve cost savings.

Skills

Negotiation skills

Analytical thinking

Problem-solving

Contract management

Education

Bachelor's in Business Management or related

Job description

Job Purpose: This position will be responsible for all planning, and executing procurement activities, including Contracts drafting, execution, and management, by analyzing costs, negotiating contract details, and offering strategies and solutions to help manage costs on supplies and services. Managing inventory, tracking orders, and resolving issues concerning price disputes.

Functional Duties:

• Manage Procurement Activities
• Support relevant stakeholders regarding appropriate processes (scope of work, material specification, estimation)
• Draft proposal to convert repeated purchases into contracts for value creation
• Develop and execute sourcing strategies for mid - high spend items
• Develop pricing structures
• Value creation (price Negotiation, delivery time, and/or cost avoidance)
• Performs risk assessment of Terms and condition deviations
• Review invoices and cross-check approved purchasing orders Monitor contract and purchasing order consumption and spend preparing RFQs, reviewing proposals, negotiating prices, selecting or recommending suppliers, analyzing trends, developing cost estimates, following up on orders placed, and maintaining necessary records
• Receive bids and arrange formal bid opening where applicable Maintain a tender control log Formulate and agree with Bid Evaluation Plan
• Distribute, check and carry out a commercial evaluation of bids Prepare quotation summaries, and quotation summary variations and make recommendations
• Work closely with Finance, Legal and Internal Audit to ensure full compliance with policies, procedures, and controls for all contracts and procurement of materials
• Monitoring and Maintaining Supplier Relationships through registration and performance review
• Create and document all procurement activities for audit purposes
• Resolve all Contractor disputes in coordination with Finance, Legal, Internal Audit, and concern proponent

Requirements:

• Experience 5-10 Years
• Bachelor's in Business Management and Administration, industrial engineering, or any related major with strong Analytical thinking and problem-solving