Purchase Specialist

Overview

As a Purchase Specialist, you will enable the sales team to quickly obtain accurate quotes and secure competitive pricing by maintaining updated price lists, verifying suppliers, and actively sourcing alternatives for lost deals.

Key Responsibilities

• Maintain a comprehensive master price database capturing product details, suppliers, unit prices, minimum order quantities, lead times, and last confirmation dates. Prices older than two weeks are marked as unconfirmed.
• Oversee a supplier register documenting contacts, product offerings, payment terms, and delivery performance; accessible to management at all times.
• Weekly refresh of a Top-20 price list for the most popular products, ensuring sales can provide swift quotes.
• Respond to sales pricing inquiries within four working hours same day.
• Source and evaluate new suppliers prioritized by lost deals on price, to continuously improve vendor options.
• Monitor supplier performance after each delivery, tracking timeliness, completeness, and price compliance.
• Manage supplier registration processes end-to-end, including documentation submission and approval for Wigmore Trading’s buyer accounts, and keep registration status updated.
• Correct any product price discrepancies found on company websites within 24 hours, updating the master price database accordingly.

Weekly Work Schedule

• Monday morning: Update and confirm Top-20 price list with Sales Manager.
• Daily: Handle pricing requests promptly, update price data, and resolve website pricing errors.
• Two afternoons weekly: Focused supplier sourcing for high-volume and lost-price products.
• Post-delivery: Record supplier performance metrics.
• Friday: Submit detailed weekly report to Sales Manager covering pricing, sourcing, website corrections, and supplier issues.

Procedures and Standards

• Obtain at least two or three quotes for every large order above the defined financial threshold.
• Conduct tiered supplier vetting based on deal size, including verification of registration and trial orders.
• For imported goods, calculate landed cost considering supplier price, freight, duties, and clearance with a currency buffer to mitigate exchange risks.
• Track lead times separately for local and imported goods to provide accurate delivery promises.
• Require management approval for price increases beyond a set percentage or new suppliers involved in large deals.
• Negotiate improved payment terms as volume with suppliers grows, documenting all changes.

Weekly Reporting Metrics

• Status of Top-20 price list refresh and notable price movements.
• Summary of pricing requests and average response times.
• Lost deal analysis with sourcing follow-up actions.
• Updates on new supplier contacts, vetting, trial orders, and buyer account registrations.
• Catalog of website price corrections made.
• Record of supplier delivery issues and resolution steps taken.

Performance Targets

• Respond to pricing requests within four working hours same day.
• Refresh Top-20 price list fully every Monday.
• Ensure multiple competing quotes for all significant deals.
• Reduce number of deals lost due to pricing over time.
• Keep supplier register up to date and ready for audit at all times.