Store Executive

Job Description: Store Executive

Position Title: Store Executive

Location: Centro Hotels, Pune

Reports To: General Manager

Job Type: Full-Time

Experience Level: Mid to Senior Level

Position Overview:

The Store Executive will be responsible for overseeing the procurement of goods and services required by the hotel, managing inventory, controlling costs, and maintaining relationships with vendors. This role combines the duties of both procurement and cost control, ensuring that all purchases are made efficiently, costs are kept within budget, and inventory levels are optimized. The role requires a meticulous individual who can manage both the financial and operational aspects of procurement and inventory, while also implementing effective cost control measures across all departments.

Key Responsibilities:

1. Procurement Management:

• Plan and execute daily, weekly, and monthly purchase orders based on the requirements provided by various departments, including F&B, housekeeping, and maintenance.

• Source vendors for required products and services, ensuring cost-effectiveness, quality, and timely delivery.

• Negotiate contracts, terms, and pricing with suppliers to ensure the best possible deals for the hotel.

2. Inventory and Stock Management:

• Maintain optimal par stock levels by regularly reviewing inventory and anticipating future needs.

• Monitor the receiving process to ensure the correct quantity and quality of goods are delivered.

• Conduct regular stock audits to verify inventory accuracy and reduce discrepancies.

3. Quality Assurance:

• Inspect and verify the quality of goods received, ensuring they meet the hotel’s standards.

• Report and address any quality issues or discrepancies with suppliers promptly.

• Ensure all received items are correctly labeled and stored according to the hotel’s inventory management protocols.

4. Documentation and Systems Management:

• Ensure accurate entries of all purchase orders, receipts, and inventory changes in the hotel’s Material Management System (MMS).

• Manage all documentation related to purchases, stock, and vendor agreements, ensuring they are updated and easily accessible.

• Oversee the processing of invoices, verifying them against purchase orders and delivery receipts before coordinating with the Accounts team for payments.

5. Cost Management and Optimization:

• Regularly review purchasing trends and explore opportunities for cost reduction through bulk purchases, alternative suppliers, or better negotiation.

• Monitor market trends to anticipate price changes and adjust purchasing strategies accordingly.

• Implement cost control measures to ensure that costs remain within budgeted levels.

• Regularly analyze cost data and identify opportunities for cost reduction and efficiency improvements.

• Work closely with the Cost Controller (internal) to identify areas of cost reduction and implement strategies to optimize procurement.

6. Vendor Relationship Management:

• Develop and maintain strong relationships with all vendors and suppliers.

• Regularly review vendor performance and address any issues related to delivery, quality, or pricing.

• Ensure that all vendor agreements are compliant with the hotel’s policies and legal standards.

7. Coordination with Other Departments:

• Collaborate with the kitchen, housekeeping, maintenance, and other relevant departments to understand their specific needs and timelines for procurement.

• Coordinate with the external cost audit agency to ensure accurate reporting and compliance with cost control measures.

• Work closely with the Accounts team to ensure timely payment processing and resolve any discrepancies in billing.

8. Reporting:

• Prepare and present regular reports on inventory status, purchase activities, vendor performance, and cost savings.

• Report any variances, quality issues, or wastages to the management and suggest corrective actions.

• Conduct variance analysis between actual costs and budgeted costs, identifying the reasons for variances.

• Prepare and present regular cost reports to the management, highlighting key areas of concern and opportunities for cost savings.

• Develop and maintain cost databases for historical analysis and future forecasting.

+. Budgeting and Forecasting:

• Assist in the preparation of the hotel’s annual budget and monthly forecasts.

• Provide detailed cost analysis to support the budgeting process and ensure accurate cost projections.

10. Inventory Control:

• Collaborate with the Purchase and Store Incharge to ensure accurate inventory management and control.

• Conduct regular inventory audits to verify stock levels and ensure accurate cost reporting.

11. Coordination with External Auditors:

• Coordinate with external cost audit agencies to ensure compliance with internal controls and regulatory requirements.

• Provide all necessary documentation and support during cost audits.

12. Process Improvement:

• Continuously review and improve cost control procedures and systems to enhance efficiency and accuracy.

• Provide training and guidance to department heads on cost control measures and best practices.

13. Vendor and Contract Management:

• Work with the Purchase and Store Incharge to review vendor contracts and ensure that pricing is competitive and in line with budget expectations.

• Participate in vendor negotiations to secure the best possible terms for the hotel.

14. Wastage Reduction:

• Implement and monitor waste reduction programs across all hotel operations.

• Analyze wastage reports and collaborate with department heads to reduce waste and improve cost efficiency.

Qualifications:

• Minimum of 2 years of experience in procurement, store management, or cost control, preferably in the hospitality industry.

• Strong knowledge of inventory management systems, procurement best practices, and cost control measures.

• Excellent negotiation, communication, and relationship management skills.

• Proficient in accounting software, Microsoft Office Suite, and Material Management Systems (MMS).

• High level of attention to detail and strong organizational skills.

• Ability to work under pressure and manage multiple tasks simultaneously.