Purchasing Manager
1 month ago
At Monoprice, we exist to bring simplicity, fairness, & confidence to technology choices. With a proven business model that eliminates entire layers of markup within the supply chain, which allows us to sell premium products at a fraction of marketplace prices with comparable speed and service.
The Purchasing Manager’s role is to prioritize, schedule and delegate day-to-day purchasing activities and strategic projects, in addition to providing strategic direction to the purchasing team to ensure timely and cost-effective completion of all work and projects assigned to the department. The Purchasing Manager manages supply chain & vendor management actions through coordinated consultation with all stakeholder departments to ensure a synergetic purchasing strategy. The Purchasing manager also works cross functionally to establish and improve processes ensuring supplier quality, service, and price meet the needs of Monoprice. Manage an efficient and responsive purchasing team to ensure optimization of manpower, cost savings, and material inventories. Responsible for planning, establishing, directing, and coordinating purchasing programs and processes ensuring that performance and efficiencies conform to Monoprice standards and business needs to maintain lasting customer satisfaction. Act as a technical resource to other departments and direct reports to address and resolve inquiries and problems. Work with top management to develop the short- and long-range goals and objectives of the purchasing team.
- Build and maintain strong relationships with international and domestic vendors. Negotiate optimal pricing, payment terms, and service guarantees to achieve the best outcomes.
- Identify and develop new supply sources and vendors for newly introduced products and categories. Evaluate bids, negotiate purchase orders, and monitor costs.
- Collaborate with Demand Planning to develop accurate demand forecasts. Ensure timely order placement based on vendor lead times to meet future needs.
- Develop and implement both short-term and long-term purchase strategies to manage inventory level effectively and optimize inventory turnover, and ensure continuous product availability to support operational needs and customer demands.
- Consolidate common purchases to negotiate highly advantageous contracts and manage purchasing and inventory budgets to reduce costs and maximize efficiency.
- Establish and manage account and credit terms for vendor accounts, collaborating with the CFO when necessary. Develop and enforce purchasing policies and processes to ensure compliance.
- Oversee transportation logistics for overseas shipments, coordinating with the Logistics and the Receiving Departments to ensure accurate and timely delivery. Maintain and improve quality control processes.
- Visit vendor facilities and attend trade shows as needed to strengthen relationships and explore new opportunities.
- Execute core management functions, including performance reviews, disciplinary action, recognition, hiring, on-boarding, in a timely and effective manner.
- Act as the primary point of reference and communication for all policies, promotions, and product information.
- Other duties may be assigned to accomplish company or department objectives.
Education & Experience
- Bachelor's Degree in Business Management and / or related areas.
- 3+ years of management experience
- Working within a company of revenue with more than 200 million dollar for at least 3 years
- 6+ years of experience in Purchasing
- Experience in the company of consumer electronic products a plus
- Experience of purchasing and importing products from China and Taiwan. Knowledge of International Customs regulations and tariffs classifications.
Other Skills and Abilities
- Ability to work well within a team and cross functionally
- Outstanding written and verbal communications skills
- Strong leadership, coaching, team building and people development skills
- Strong analytical and negotiation skills
- Experience outsourcing new vendors overseas
- Strong analytical ability and demonstrated problem solving skills
- Demonstrated ability to respond appropriately and professionally to customers, colleagues, or direct reports in situations of conflict.
- Able to motivate, develop and coach direct and indirect reports through disciplinary issues, as well as developmental opportunities
- A demonstrated ability to lead people and get results through others.
- Problem analysis and problem resolution at both a strategic and functional level.
- Ability to prioritize tasks, meet deadlines and work independently in a fast paced environment. Able to work under pressure and effectively manage stress
- Goal oriented, ambitious, extremely motivated
- Advanced level of MS office, Excel, PowerPoint, etc.
- ERP system experience is preferred.
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