Job Description
Job Description
Commodity Buyer
Job Summary :
A Commodity Buyer is responsible for strategically sourcing, negotiating, and managing the procurement of specific commodities or groups of related products within an organization.
This role involves analyzing market trends, managing supplier relationships, and optimizing costs for the assigned commodities.
The Commodity Buyer plays a crucial role in ensuring a secure and cost-effective supply chain.
Key Responsibilities :
- Strategic Sourcing :
- Conduct market research to identify potential suppliers for specific commodities.
- Develop and implement sourcing strategies to optimize costs and ensure a stable supply.
- Supplier Relationship Management :
- Build and maintain strong relationships with key suppliers.
- Collaborate with suppliers to address quality issues, negotiate contracts, and discuss performance.
- Negotiation :
- Negotiate pricing, terms, and contracts with suppliers to achieve cost savings.
- Work closely with suppliers to secure favorable agreements and manage risks.
- Cost Optimization :
- Analyze cost structures, identify cost-saving opportunities, and implement efficiency measures.
- Monitor commodity prices and market trends to make informed purchasing decisions.
- Risk Management :
- Identify potential risks in the commodity supply chain and develop risk mitigation strategies.
- Monitor geopolitical, economic, and industry-specific factors affecting commodity prices and supply.
- Contract Management :
- Draft, review, and manage contracts with commodity suppliers.
- Ensure compliance with contractual terms and conditions.
- Quality Assurance :
- Collaborate with quality control teams to ensure compliance with quality standards.
- Implement measures to address and rectify any quality issues with commodity suppliers.
- Market Analysis :
- Stay informed about industry trends, technological advancements, and regulatory changes affecting the commodity market.
- Use market insights to make data-driven decisions in commodity procurement.
Qualifications and Skills :
- Proven experience as a Commodity Buyer or in a similar strategic procurement role.
- Strong negotiation and analytical skills.
- In-depth knowledge of commodity markets and supply chain dynamics.
- Excellent communication and relationship-building abilities.
Education and Experience :
- Bachelor's degree in Business, Supply Chain Management, or a related field.
- Relevant certifications in procurement or supply chain management are advantageous.
- Previous experience in commodity procurement or related roles is preferred.
Work Environment :
- The role may involve occasional travel to meet with commodity suppliers or attend industry events.
- Adaptability to handle a dynamic and fast-paced work environment.
A Commodity Buyer is instrumental in managing the procurement of specific commodities, contributing to cost savings, risk mitigation, and overall supply chain efficiency.
This role requires strategic thinking, strong analytical skills, and the ability to navigate complex market dynamics.
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