Job Title: Purchase Engineer Location: Mumbai Reports To: Project Manager Job Summary: We’re currently seeking a highly skilled and experienced Purchase Engineer to join our team. In this role, you will be responsible for leading, directing, and overseeing various activities related to acquiring raw materials, components, and equipment while managing relationships with vendors. Required tasks will be negotiating contracts, developing sourcing plans, and managing inventory. Hands-on experience in procurement or a related area like supply chain management is often necessary. Familiarity with manufacturing materials and components and knowledge of industry regulations is crucial for success in this role. Key Responsibilities: • Vendor Evaluation: Conduct assessments to identify and qualify vendors based on quality, cost, and reliability. • Request for Proposal (RFP) Creation: Draft and distribute RFPs to potential vendors, outlining the specifications and requirements for products or services needed. • Cost Analysis: Perform detailed cost analyses to identify optimal procurement options aligned with budget constraints and quality standards. • Negotiation: Lead negotiations with suppliers to secure advantageous contract terms and conditions. • Compliance Monitoring: Keep procurement activities compliant with internal policies and external regulations. • Quality Assurance: Collaborate with the quality control team to ensure the purchased materials meet all necessary quality metrics. • Order Management: Oversee the entire ordering process, from initial requisition to final delivery, ensuring timeliness and accuracy. • Supplier Relationship Management: Maintain and nurture relationships with suppliers for long-term partnership and potential cost savings. • Technical Liaison: Serve as the point of contact between engineering departments and suppliers to clarify technical specifications or resolve issues. • Contract Management: Administer supplier contracts and agreements, ensuring they meet both short-term needs and long-term strategic goals. • Developing a sourcing plan: Review engineering drawings, accompany engineers in examining sources of supply, and interviews prospective suppliers. • Managing inventory: Utilizes inventory and cost analysis reports and reconciles stock discrepancies with suppliers; reorders levels as necessary. • Conducting research: Analyzes, researches, and recommends alternative sources of supply for usage and cost savings. Requirements and skills: • A minimum of 3-5 years in procurement or a closely related field. • Prior experience with vendor management. • Demonstrated ability in cost negotiation. • Previous involvement in cost-reduction initiatives. • Great attention to detail and problem-solving abilities. • Proficiency in procurement software (e.g., ERP). • Strong data analysis skills. • Expertise in MS Office, especially Excel, for financial modeling with formulas, VLOOKUP, Pivot Table, etc. • Understanding of technical blueprints and schematics.