Procurement Executive

We at Innovecture are hiring for a "Procurement Executive" to expand our team, this position will be in Powai, Mumbai, India. You will work across various Innovecture and client teams and apply your technical expertise to some of the most complex and challenging technology problems. About Innovecture: Founded in 2007 under the leadership of CEO Shreyas Kamat, Innovecture LLC, began as a U.

S.-based Information Technology and Management Consulting Company focusing on technology consulting and services. With international development centers located in Salt Lake City, USA, and Pune, India, Innovecture leverages its Global Agile Delivery Model to effectively deliver client projects within budget scope and project deadline.

The primary focus of Innovecture is to provide a unique wealth of expertise and experience to the IT and Management Consulting realm by utilizing various technologies across multiple industry domains. Innovecture uses best-in-class design processes and top-quality talent to ensure the highest quality deliverables. With innovation embedded in its consulting and services approach, Innovecture will continue to deliver outstanding results for its Fortune 500 clients and employees.

Job Description Job Description: Procurement Executive Location: Mumbai The Procurement Executive provides administrative, operational, and analytical support to the procurement function. The role ensures efficient processing of purchase requests, supplier documentation, purchase orders, contract records, and procurement reporting while maintaining compliance with company policies and procedures.

The position plays a critical role in enabling procurement operations by improving process efficiency, maintaining procurement data accuracy, supporting vendor management activities, and ensuring timely completion of procurement transactions.

Key Responsibilities

Procurement Administration

• Create and process purchase requisitions and purchase orders (POs).
• Update and manage contracts , NDA, Scope of work documents in Contract Life Cycle Management tool.
• Track purchase orders from creation through delivery and closure.
• Maintain procurement documentation, supplier records, contracts, and approval workflows.
• Ensure procurement transactions comply with company procurement policies.
• Coordinate with internal stakeholders to obtain required approvals and supporting documentation. Vendor & Supplier Support
• Manage Vendor onboarding
• Maintain supplier databases and vendor master records.
• Support supplier onboarding, due diligence, and documentation collection.
• Liaise with vendors regarding order status, delivery schedules, invoices, and documentation.
• Monitor supplier performance records and update procurement systems. Data Management & Reporting
• Maintain accurate procurement data within D365 Finance and Operations and other procurement systems.
• Generate periodic reports on spend, savings, supplier performance, contract renewals, and procurement KPIs.
• Analyze procurement data to identify trends and opportunities for process improvements.
• Support audits by providing procurement records and documentation. Invoice & Payment Coordination
• Perform purchase order and invoice matching.
• Resolve discrepancies between purchase orders, receipts, and invoices.
• Coordinate with Finance and Accounts Payable teams to facilitate timely vendor payments.
• Track open purchase orders and outstanding invoices. Contract & Compliance Support
• Maintain a repository of supplier agreements and contracts.
• Monitor contract renewal dates and compliance requirements.
• Ensure procurement records are audit-ready and compliant with internal controls.
• Support governance, risk, and compliance activities related to procurement operations. Stakeholder Coordination
• Work closely with internal departments to understand procurement requirements.
• Provide status updates on procurement requests and vendor engagements.
• Assist procurement managers with sourcing initiatives and special projects.
• Support continuous improvement initiatives across procurement processes.

Qualifications

Education

• Bachelor's degree in Business Administration, Supply Chain Management, Commerce, Finance, or a related field.
• Professional procurement certification (CIPS, CPSM, CPP, or equivalent) is an advantage. Experience
• 3 - 7 years of experience in procurement operations, purchasing, supply chain support, or procurement administration.
• Experience working with ERP system of D365, CLM systems, HR systems Workday, or similar platforms is preferred.
• Experience in a multinational or shared services environment is desirable.

Required Skills

Technical Skills

• Procurement and purchasing process knowledge.
• ERP and procurement system proficiency.
• Advanced Microsoft Excel skills.
• Data analysis and reporting capabilities.
• Document management and records administration. Behavioral Competencies
• Strong attention to detail and accuracy.
• Excellent organizational and time-management skills.
• Ability to manage multiple priorities and deadlines.
• Strong communication and stakeholder management skills.
• Problem-solving and analytical mindset.
• Commitment to compliance and process discipline. Key Performance Indicators (KPIs)
• Purchase Order processing turnaround time.
• Accuracy of procurement data and records.
• Supplier onboarding cycle time.
• Invoice matching and resolution efficiency.
• Procurement compliance adherence rate.
• Contract renewal tracking effectiveness.
• Stakeholder satisfaction scores.
• Timely completion of procurement reports and analytics. Success Profile A successful Procurement Executive is highly organized, process-oriented, and detail-focused. They ensure procurement operations run smoothly, maintain accurate records, support supplier and stakeholder interactions, and provide reliable reporting that enables effective procurement decision-making across the organization.