Procurement Specialist

NOV Inc. • Fort Worth, TX

5d • Hybrid

About The Position

As a Procurement Specialist, you will play a crucial role in supporting our company's operations by managing the purchasing process for goods and services. Your expertise in procurement strategies and supply chain management will be essential in ensuring cost-effective and timely procurement of materials. You will manage the entire procurement process from identifying the need for goods and services to negotiating contracts and finalizing purchases. You will also conduct market research, evaluate and select suppliers, negotiate contracts, and collaborate with cross-functional teams. Monitoring supplier performance, maintaining accurate records, and resolving discrepancies are key aspects of this role. Continuous improvement of procurement processes, staying informed of regulations, and training junior team members are also expected. You will represent the company in supplier negotiations, identify potential risks, and communicate regularly with internal stakeholders.

Requirements

• Completion of an undergraduate degree in technical, business, or similar discipline is required.
• Skills are typically acquired through completion of an undergraduate degree in Engineering, Industrial Distribution, Business, or Supply Chain Management or a similar discipline.
• A minimum of 3- 6 years of experience in Supply Chain Management activities/experience.
• Must have the skill sets and ability to interface across the entire enterprise (Engineering, Manufacturing, Quality, MP&L, Trade Compliance, Accounting, etc.).
• The capability of understanding technical documentation and standards (machine drawings, material specifications and classifications, etc.) is required.

Nice To Haves

• Oracle Purchase to Pay knowledge is desirable.
• Certification as a Supply Chain Professional is preferred.
• Oracle Fusion knowledge preference

Responsibilities

• Creates requests for quotations (RFQ) and organizes competitive biddings from various suppliers to obtain the best quality, delivery, and price for goods and services.
• Develop and implement effective procurement strategies to support the company's operations and meet its purchasing needs.
• Manage the entire procurement process from identifying the need for goods and services to negotiating contracts and finalizing purchases.
• Conduct market research and stay updated on industry trends to identify potential cost-saving opportunities and develop relationships with new suppliers.
• Evaluate and select suppliers based on quality, cost, and delivery time, ensuring the best value for the company.
• Negotiate contracts and terms with suppliers to secure favorable pricing and payment terms.
• Collaborate with cross-functional teams to understand their purchasing needs and provide guidance on procurement processes and procedures.
• Monitor and track supplier performance, ensuring timely delivery and compliance with contractual agreements.
• Maintain accurate and up-to-date records of all procurement activities, including contracts, purchase orders, and invoices.
• Identify and resolve any issues or discrepancies with suppliers, including delivery delays, quality issues, and pricing discrepancies.
• Continuously review and improve procurement processes to increase efficiency, reduce costs, and streamline operations.
• Stay informed of industry regulations and compliance requirements related to procurement and ensure the company's adherence to them.
• Train and mentor junior procurement team members to ensure their understanding and adherence to procurement policies and procedures.
• Represent the company in supplier negotiations and maintain positive and professional relationships with all stakeholders.
• Proactively identify potential risks and develop contingency plans to mitigate them.
• Communicate regularly with internal stakeholders and provide updates on procurement activities and any potential issues or delays.
• Other duties as assigned.

Benefits

• 401(k) Retirement Plan – NOV matches every dollar up to 5% of base pay and overtime for every dollar you invest.
• Competitive medical plans that are effective your date of hire.
• FREE MDLIVE virtual visits (when enrolled in an NOV medical plan).
• FREE preventative medical and dental care for the entire family (when enrolled in an NOV medical/dental plan and seeing an in-network physician).
• FREE Basic Life and AD&D insurance at 2 times your annual salary (for full-time employees).
• All regular full-time employees start with 3 weeks of paid vacation per year (prorated based on start date). Pre-NOV relevant experience (years of service) may be considered for vacation accruals.
• All regular full-time employees receive up to 11 paid holidays per year.
• Flexible Workplace Program offering hybrid work arrangements up to two remote workdays per week.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level