Purchase Executive – Gold & Jewellery FirmKey Roles & Responsibilities
- Gold & Raw Material Procurement
- Purchase gold, silver, diamonds, gemstones, and other jewellery raw materials as per company requirements.
- Source materials from approved and reliable suppliers.
- Compare supplier rates, quality, purity, and commercial terms.
- Gold Rate & Market Monitoring
- Monitor daily gold and silver market rates.
- Track market fluctuations and advise management on suitable purchase timing.
- Maintain records of purchase rates and market trends.
- Supplier Management
- Identify and develop new suppliers.
- Negotiate prices, making charges, wastage, credit terms, delivery schedules, and payment conditions.
- Maintain good relationships with suppliers.
- Evaluate supplier performance based on quality, price, and delivery.
- Quality & Purity Verification
- Ensure purchased gold meets the required purity standards, such as 24K, 22K, or 18K.
- Coordinate with the quality/testing team for purity and weight verification.
- Verify hallmarking, certificates, invoices, and other required documentation.
- Purchase Orders & Documentation
- Prepare and process purchase orders.
- Verify supplier quotations, invoices, delivery challans, and purchase documents.
- Maintain accurate purchase records in ERP/SAP or other systems.
- Inventory Coordination
- Coordinate with stores, production, accounts, and sales teams regarding material requirements.
- Monitor stock levels and initiate purchases based on production and business requirements.
- Avoid excess inventory and unnecessary procurement.
- Cost Control
- Negotiate competitive rates and minimize procurement costs.
- Compare multiple suppliers before major purchases.
- Monitor wastage, making charges, transportation, and other procurement-related costs.
- Gold Security & Compliance
- Follow company procedures for handling and movement of precious metals.
- Ensure proper documentation and authorization for gold purchases and transfers.
- Maintain confidentiality regarding gold rates, supplier pricing, and transactions.
- Coordination with Accounts
- Coordinate with the Accounts/Finance team for supplier payments.
- Resolve invoice discrepancies, weight differences, rate differences, and other billing issues.
- Track outstanding supplier payments when required.
- MIS & Reporting
- Prepare daily/weekly/monthly purchase reports.
- Maintain reports of gold purchases, supplier-wise purchases, rates, quantities, and costs.
- Provide procurement data and analysis to management.
Key Skills Required
- Knowledge of gold and jewellery products
- Understanding of gold purity, karat, weight and wastage
- Strong negotiation and vendor management skills
- Knowledge of gold market rates
- Good MS Excel/ERP/SAP knowledge
- Strong numerical and analytical skills
- High level of integrity, accuracy and confidentiality
- Good coordination and communication skills
Pay: ₹20,000.00 - ₹25,000.00 per month
Benefits:
- Paid sick time
- Provident Fund
Application Question(s):
- Do you have min 1+ year of experience as an purchase executive from jwelery industries?
- are you ok with 10.45 AM TO 8.30 PM timing with 06 working days Thursdays to tuesday ?
- i have read the JD carefully and i do qualify for this role ?
- I DO HAVE Knowledge of gold market rates/Good MS Excel/ERP/SAP knowledge
Education:
Work Location: In person
