Procurement and Inventory Management Officer Job at Polaris Bank

Polaris Bank was established by the Central Bank of Nigeria (CBN) on September 21, 2018 to offer commercial banking services to the Nigerian public. The bank commenced services on the same day, having purchased the assets and assumed certain liabilities of the defunct Skye Bank.With a footprint of over 350 branches across the country, Polaris Bank prides itself in delivering exceptional customer experience, leveraging best in class/state of the art Information Communication Technology (ICT). By focusing on ICT solutions across multiple service delivery channels (mobile banking, ATMs, POS and online platforms) Polaris Bank maintains a pivotal role in the Nigerian banking industry, providing customers with simple, convenient and secured banking services.

We are recruiting to fill the position below

Job Position: Procurement and Inventory Management Officer

Job Location: Victoria Island, Lagos
Job Type: Full-Time

Job Description

• We are currently sourcing for an experienced procurement officer, responsible for overseeing procurement activities, store operations, and inventory management within the organization.
• The role holder develops and implement procurement strategies, source suppliers, negotiate contracts, and maintain supplier relationships.
• They also manage store operations, including policy development, staff management, and performance monitoring.

Responsibilities
Procurement Management:

• Identify the type, quality and quantity of resources required based on up-to-date and accurate information.
• Conduct a rigorous tender, evaluation, and selection process, complying with organizational procedures to select suppliers which best meet the resourcerequirements of the change initiative and organization.
• Identify opportunities for cost reduction and process improvement in procurement activities.
• Agree viable contracts and statements of work, including performance monitoring criteria, in line with organizational requirements.
• Formulate, implement, and continuously review procurement policies and procedures in line with the Bank’s business objectives.
• Plan and execute procurement activities to ensure timely availability of goods and services.

Vendor Management:

• Establish the principles of a vendor agreement, balancing the interests of Polaris Bank and the vendor.
• Broaden the scope of existing agreements with vendors to increase the business benefit to both parties.
• Revise and approve contracts with major vendors to provide renovations, acquisition of specialized products or services etc.
• Very vast in managing most vendors and its resource personnel as regards vendor management and vendor negotiations.
• Monitor vendor performance and compliance with service level agreements 

Vendor Management:

• Implement inventory management best practices to ensure optimal stock levels.
• Minimize excess inventory and reduce carrying costs while preventing stockouts.
• Collaborate with internal stakeholders to forecast inventory requirements accurately, improving supply-demand alignment.
• Conduct regular inventory audits to ensure accuracy and mitigate discrepancies.
• Implement a robust inventory tracking system to monitor stock levels, reorder points, and lead times.
• Implement safety stock calculations to mitigate the risk of stock outs during unforeseen demand spikes. 

Quality Assurance:

• Ensure the procurement of high-quality goods and services that meet the bank’s standards.
• Develop quality control measures to verify the quality of procured items.
• Implement technology solutions to automate procurement workflows and improve tracking.
• Collaborate with stakeholders to define quality requirements and specifications.
• Streamline procurement processes to reduce cycle times and enhance efficiency.
• Continuously review and refine procurement processes to eliminate bottlenecks.

Protocols & Logistics Management:

• Develop delivery plans to optimize the movement of goods and materials throughout different business and operations units.
• Implement supply chain management system to support the movement of equipment, tools, and materials across different locations.
• Source, select and appoint capable logistics vendors for ensuring secure, quick, and flawless order processing.
• Apply proper knowledge of workplace ergonomics to design a safe, effective, and efficient working environment for the bank.
• Provide a safe environment for customers and employees.  

Fleet Management:

• Implement standard operating procedures (SOPs).
• Accurately determine budgets that will control transport costs.
• Manage maintenance activities and the personnel responsible for them.
• Safely, effectively, and efficiently manage the distribution and delivery of vehicle spare parts supplies.
• Work out the best economic point of replacement for a vehicle.
• Understand and applies the principles behind calculating the best economic point of replacement for a vehicle.
• Raise awareness about transport issues and analyze log sheet data.

Fleet Management:

• Prepare specifications of outsourcing travel related services including Air Travel and Ticketing Agency services, Car Hire services, Transfers and Taxi services
• Handle coordination with travel agents and provides briefings on the formalities and procedures of their destination.
• Identify, establish, and communicate effective logistical procedures to be used in protocol and logistics operations, ensuring all employees are aware and follow
• statutory guidelines and Bank’s procedures.

Fleet Management:

• Develop and implement office management strategies that align with the bank’s values and goals.
• Manage budgets, oversee procurement, inventory management, and ensure compliance with regulatory requirements.
• Create and maintain office databases and records.
• Provide training and guidance to other employees on office management best practices.
• Develop and implement office policies and procedures.
• Communicate effectively with internal and external stakeholders.

Qualification and Experience

• Bachelor's Degree in Business Administration, Supply Chain Management, or a related field is preferred.
• 3 – 10 years of cognate experience in a related role
• Additional academic qualification is an added advantage.
• Relevant professional qualification is required.