In a previous role, I negotiated a contract with a key supplier to reduce costs by 15%. I started by conducting a thorough analysis of the supplier's market position and their competitors. I then presented a detailed cost breakdown to the supplier, highlighting areas where they could improve efficiency. I also leveraged the possibility of switching to a competitor if they couldn't meet our terms. The supplier agreed to the reduced rates, and we maintained a strong partnership, resulting in annual savings of $200,000.

I prioritize tasks based on their impact on the organization's goals and deadlines. I use a project management tool to track deadlines and dependencies. Critical projects that align with strategic objectives or have immediate financial implications are given top priority. I also allocate time blocks in my schedule to focus on high-priority tasks and delegate lower-priority items to team members when possible. This approach ensures that I meet deadlines while maintaining focus on the most impactful projects.

I ensure compliance by staying updated on relevant procurement regulations and company policies. I conduct regular audits of procurement processes to identify any potential risks. I also collaborate with the legal and compliance teams to implement necessary controls and training programs for the procurement team. By maintaining a detailed record of all procurement activities and documenting approvals, I can demonstrate adherence to policies and mitigate any legal risks.

I evaluate supplier performance using a combination of qualitative and quantitative metrics. Key metrics include on-time delivery rates, quality of goods, cost competitiveness, and responsiveness to inquiries. I also consider qualitative factors such as supplier innovation and their ability to meet unique requirements. I gather feedback from internal stakeholders and conduct regular performance reviews with suppliers. This data-driven approach helps me identify top-performing suppliers and areas for improvement.

In one instance, a supplier failed to deliver goods on time, causing a production delay. I immediately contacted the supplier to understand the issue and negotiated a revised delivery schedule. I also arranged for alternative sourcing to minimize the impact on our operations. To prevent future delays, I implemented a more stringent monitoring system for critical deliveries and strengthened our contract terms to include penalties for late deliveries. This proactive approach resolved the immediate conflict and improved our relationship with the supplier.