Procurement Specialist
1 week ago
Location: 500 7th Avenue, New York, New York
Our Business:
1440 Foods is a sports and active nutrition company on a mission to energize people to unleash their potential with a focused portfolio of accessible, great-tasting health and wellness brands: Pure Protein nutrition bars; Body Fortress high efficacy protein powders; MET-Rx high-performance meal replacements.
Job Description Overview:
We are seeking a proficient and organized Procurement Specialist, you will play a critical role in ensuring the efficient and cost-effective sourcing of raw materials, ingredients, packaging, and other supplies necessary for food production. You will be responsible for managing supplier relationships, negotiating contracts, and optimizing procurement processes to meet the company's quality, cost, and sustainability objectives.
Position is hybrid, working at minimum Tuesday, Wednesday & Thursday in our New York office.
Job Responsibilities:
- Identify, evaluate, and onboard suppliers capable of meeting quality, quantity, and delivery requirements. Develop and maintain strong relationships with existing and potential suppliers.
- Negotiate favorable terms and conditions with suppliers, including pricing, payment terms, delivery schedules, and quality standards. Ensure contracts are compliant with company policies and legal requirements.
- Analyze procurement costs, trends, and variances to identify cost-saving opportunities and ensure procurement activities align with budgetary targets. Provide regular reports and recommendations to management on cost optimization strategies.
- Identify and mitigate potential risks in the supply chain, such as supply disruptions, price fluctuations, and quality issues. Develop contingency plans and alternative sourcing strategies to minimize operational disruptions.
- Develop and execute strategic sourcing plans to optimize costs while maintaining product quality and reliability. Monitor market trends, supplier performance, and industry developments to identify opportunities for cost savings and process improvements.
- Collaborate with production planning and inventory teams to ensure adequate inventory levels of raw materials and supplies to support production schedules while minimizing excess inventory and associated costs.
- Work closely with quality assurance teams to ensure that all procured materials meet required quality standards and regulatory requirements. Address any quality issues promptly and implement corrective actions with suppliers as needed.
- Working closely with the company legal department to make sure contracts and terms are favorable.
- Establish key performance indicators (KPIs) to measure supplier performance against established benchmarks. Conduct regular performance reviews and audits to assess supplier compliance and identify opportunities for improvement.
- Ensure procurement activities comply with company policies, industry regulations, and ethical standards. Conduct due diligence on suppliers to assess their compliance with labor, environmental, and ethical standards.
- Drive continuous improvement initiatives within the procurement function, such as process automation, standardization, and efficiency gains. Actively seek feedback from stakeholders to identify areas for improvement and implement best practices.
Skills, Knowledge & Abilities:
- Strong negotiation skills with the ability to build and maintain effective supplier relationships.
- Excellent analytical and problem-solving abilities, with a keen attention to detail.
- Solid understanding of supply chain management principles, including sourcing strategies, inventory management, and risk mitigation.
- Proficiency in procurement software and tools, such as ERP systems, e-procurement platforms, and data analytics software.
- Strong communication and interpersonal skills, with the ability to collaborate cross-functionally and influence stakeholders at all levels of the organization.
- Ability to thrive in a fast-paced, dynamic environment and adapt to changing priorities.
- Knowledge of regulatory requirements and industry standards relevant to food manufacturing procurement.
Education & Experience:
- Bachelor's degree in supply chain management, business administration, or a related field.
- Minimum (3) three years of proven experience in procurement or supply chain, preferably within the food manufacturing industry.
Work Environment:
Exposure to both the office setting and food manufacturing facility.
- Significant amount of time working at a computer station
- If making a visit to our manufacturing plant:
- Must wear required PPE while in all manufacturing areas.
- Moving parts and machinery are present in the plant.
Physical demands:
- Frequent sitting, standing, or walking.
- Noise levels will vary while visiting the manufacturing facility.
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