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Procurement

Overview, Education, Careers Types, Skills, Career Path, Resources

Procurement involves sourcing, negotiating, and purchasing goods/services. It ensures cost-effectiveness and quality, vital for organizational success.

Average Salary

₹6,00,000

Growth

high

Satisfaction

medium

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Functional Skills

Functional Skills are essential skills that help individuals perform tasks effectively in everyday life, work, and education.

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    Strategic Sourcing
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    Contract Management
    -
    Negotiation Skills
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    Supplier Relationship Management (SRM)
    -
    Cost Analysis
    -
    Procurement Technology
    -
    Risk Management
    -
    Inventory Management
    -
    Data Analysis and Reporting
    -
    Ethical Procurement
Soft Skills

Communication, teamwork, and critical thinking to ensure seamless project execution.

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    Negotiation Skills
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    Analytical Skills
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    Communication Skills
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    Problem-Solving Skills
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    Ethical Conduct
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    Relationship Management
    -
    Time Management
    -
    Adaptability
Technical Skills

Technical Skills are specialized abilities and knowledge needed to perform specific tasks or functions.

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    Supply Chain Management
    -
    Negotiation Skills
    -
    Contract Management
    -
    Cost Analysis
    -
    Supplier Relationship Management (SRM)
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    E-Procurement Systems
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    Data Analysis
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    Market Research
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    Risk Management
    -
    Sustainability and Ethical Sourcing
Duties and Responsiblities

Task

95%

Develop and implement procurement strategies to optimize costs and ensure timely supply of materials.

92%

Negotiate contracts with suppliers to secure favorable terms and reduce procurement expenses.

90%

Manage supplier relationships, monitor performance, and resolve any issues or disputes.

88%

Conduct market research to identify potential suppliers and stay updated on industry trends.

85%

Oversee the procurement process from requisition to delivery, ensuring compliance with policies.

82%

Evaluate supplier proposals and bids to determine the best value for the organization.

80%

Implement and maintain procurement systems and software for efficient operations.

78%

Monitor inventory levels and coordinate with relevant departments to avoid shortages.

75%

Ensure compliance with procurement regulations and ethical standards.

72%

Prepare and analyze procurement reports to track performance and identify areas for improvement.

70%

Collaborate with internal stakeholders to understand their procurement needs and requirements.

68%

Manage the procurement budget and ensure adherence to financial guidelines.

Work Activities

95%

Negotiate contracts and pricing with suppliers to secure the best possible terms for the organization.

92%

Develop and implement procurement strategies aligned with organizational goals and budget.

90%

Manage relationships with key vendors, ensuring performance and compliance with agreements.

88%

Identify and implement cost-saving opportunities in the procurement process.

85%

Assess and mitigate risks associated with the supply chain and procurement activities.

82%

Oversee the creation and tracking of purchase orders to ensure timely delivery of goods and services.

80%

Conduct market research to identify potential suppliers and stay informed about industry trends.

78%

Ensure compliance with contractual obligations and regulatory requirements.

75%

Collaborate with inventory teams to optimize stock levels and minimize waste.

72%

Evaluate supplier performance based on key metrics and provide feedback for improvement.

70%

Work with internal stakeholders to understand their needs and ensure procurement meets their requirements.

Detailed Work Profile

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