The Procurement & Inventory Specialist is responsible for leading and overseeing the end-to-end procurement and inventory management functions for Epiq Scripts. This role ensures the uninterrupted availability of raw materials, commercially available medications, packaging components, shipping supplies, and operational inventory necessary to support pharmacy operations.
This position serves as the primary subject matter expert for procurement strategy, inventory planning, vendor management, inventory control, and supply chain optimization. The Procurement & Inventory Specialist exercises independent judgment in forecasting inventory needs, sourcing products, evaluating suppliers, negotiating pricing, maintaining inventory accuracy, and developing purchasing strategies that support operational efficiency and cost effectiveness.
In addition to managing day-to-day purchasing and inventory activities, this position is responsible for continuously evaluating and improving the organization's procurement and inventory processes by implementing best practices, developing and maintaining Standard Operating Procedures (SOPs), recommending workflow improvements, identifying cost-saving opportunities, and strengthening inventory controls to support the company's continued growth.
The ideal candidate is analytical, detail-oriented, proactive, and capable of making sound business decisions in a fast-paced healthcare environment while maintaining compliance with applicable regulatory requirements and company policies.
Authority & Decision-Making
The Procurement & Inventory Specialist is responsible for independently managing the organization's procurement and inventory functions. This position exercises sound judgment and discretion in forecasting inventory needs, evaluating and selecting vendors, negotiating pricing and terms, recommending purchasing strategies, establishing inventory controls, and identifying process improvements.
In accordance with the Company's Purchasing Policy, purchases requiring executive approval must be submitted through the appropriate approval process. This position is responsible for researching, analyzing, and recommending purchasing decisions while ensuring inventory availability, operational efficiency, regulatory compliance, and cost effectiveness.
Essential Duties & ResponsibilitiesProcurement & Strategic Sourcing
- Manage the end-to-end procurement process for pharmacy operations, including raw materials (APIs), commercially available medications, packaging materials, shipping supplies, laboratory supplies, office supplies, equipment, and other operational inventory.
- Research, identify, evaluate, and qualify new vendors and suppliers.
- Obtain competitive quotes and negotiate pricing, terms, lead times, and service agreements.
- Evaluate supplier performance and recommend alternative vendors when appropriate.
- Build and maintain strategic relationships with vendors and suppliers.
- Ensure all purchases comply with company purchasing policies and approval requirements.
- Monitor market trends, product availability, and pricing to proactively address potential supply disruptions.
- Identify opportunities to standardize products and consolidate vendors to improve efficiency and reduce costs.
Inventory Management & Control
- Maintain accurate inventory records across all inventory categories.
- Develop inventory forecasts based on production schedules, historical utilization, growth projections, and operational demand.
- Establish and maintain appropriate minimum and maximum inventory levels and reorder points.
- Monitor inventory levels daily to prevent stock shortages and overstock situations.
- Conduct routine cycle counts and coordinate physical inventories.
- Investigate, reconcile, and resolve inventory discrepancies.
- Monitor product expiration dates and coordinate inventory rotation to minimize waste.
- Develop inventory performance metrics and regularly report inventory trends to leadership.
Supply Chain Optimization
- Analyze purchasing trends and inventory usage to optimize inventory investment.
- Develop contingency plans for critical inventory shortages and supply chain disruptions.
- Monitor supplier lead times and proactively adjust purchasing strategies.
- Recommend inventory optimization initiatives that improve cash flow while maintaining operational readiness.
- Identify and implement continuous improvements that enhance efficiency, reduce waste, and improve inventory accuracy.
Process Improvement & Operational Excellence
- Own the organization's procurement and inventory management function by continuously evaluating workflows and identifying opportunities for improvement.
- Develop, implement, and maintain procurement and inventory Standard Operating Procedures (SOPs).
- Establish standardized purchasing processes and inventory controls that support scalability and operational consistency.
- Recommend technology, automation, and workflow improvements that improve inventory visibility and purchasing efficiency.
- Support continuous improvement initiatives across Pharmacy Operations, Fulfillment, and Operations.
Compliance & Documentation
- Maintain accurate purchasing and inventory documentation.
- Ensure vendor files remain current, including Certificates of Analysis (COAs), product specifications, vendor qualifications, and related documentation as applicable.
- Support compliance with FDA, DEA, USP, state regulatory requirements, and company quality standards.
- Participate in internal audits, inventory audits, and regulatory inspections.
Financial Management
- Analyze purchasing activity to identify cost-saving opportunities.
- Monitor purchasing trends and inventory spending.
- Assist with inventory budgeting and forecasting.
- Prepare reports and recommendations for executive leadership regarding inventory performance, purchasing initiatives, vendor performance, and operational improvements.
Cross-Functional Collaboration
- Partner with Pharmacy Operations, Compounding, Fulfillment, Finance, Compliance, IT, and Executive Leadership to ensure inventory supports operational needs.
- Communicate anticipated shortages, delays, or supply concerns proactively.
- Provide purchasing recommendations based on operational priorities and business objectives.
Minimum Qualifications & Preferred Experience
- Bachelor's degree in Supply Chain Management, Business Administration, Logistics, Operations Management, Healthcare Administration, or a related field preferred.
- Equivalent combination of education and directly related experience may be considered.
- Five (5) or more years of procurement, purchasing, inventory management, or supply chain experience.
- Experience within pharmaceutical, healthcare, manufacturing, laboratory, medical device, or other regulated industries strongly preferred.
- Experience negotiating vendor agreements and managing supplier relationships.
- Experience with ERP, inventory management, purchasing, or warehouse management systems.
- Advanced Microsoft Excel skills, including data analysis, pivot tables, and reporting.
- Experience developing processes, SOPs, and inventory control procedures.
Knowledge, Skills & Competencies
- Strong analytical and critical thinking skills.
- Excellent organizational and planning abilities.
- Exceptional attention to detail and accuracy.
- Ability to exercise independent judgment and sound business decision-making.
- Strong negotiation and vendor management skills.
- Excellent verbal and written communication skills.
- Ability to prioritize multiple projects and meet deadlines.
- Strong financial and operational acumen.
- High level of professionalism, integrity, and accountability.
- Continuous improvement mindset with a passion for operational excellence.
Work Environment & Physical Requirements
- Full-time onsite position located in Richardson, Texas.
- Frequent standing, walking, bending, reaching, organizing, and occasional lifting or moving of inventory, packaging materials, and operational supplies.
- Ability to lift and carry up to 40 pounds.
- Ability to move throughout office, warehouse, and pharmacy environments.
- Ability to use computers and inventory management systems for extended periods.
- Ability to work effectively in a fast-paced environment with changing priorities, deadlines, and business needs.
Performance Standards & Success Measures
Success in this role will be measured by the employee's ability to effectively manage the Company's procurement and inventory functions while supporting operational efficiency, regulatory compliance, and cost management. Performance metrics may include, but are not limited to:
- Maintaining accurate inventory records and achieving established inventory accuracy goals.
- Ensuring timely procurement of raw materials, commercially available medications, packaging materials, and operational supplies to support uninterrupted business operations.
- Minimizing inventory shortages, stockouts, and excess inventory through effective forecasting and inventory planning.
- Identifying and implementing cost-saving opportunities while maintaining product quality and supplier reliability.
- Developing and maintaining strong vendor relationships and ensuring vendor performance meets Company expectations.
- Maintaining compliance with Company purchasing policies, inventory procedures, and applicable regulatory requirements.
- Identifying and implementing process improvements that enhance procurement efficiency, inventory control, and operational performance.
- Maintaining complete, accurate, and organized purchasing and inventory documentation.
- Collaborating effectively with Pharmacy Operations, Fulfillment, Finance, Compliance, and Executive Leadership to support organizational objectives.
- Demonstrating professionalism, accountability, sound judgment, and a commitment to continuous improvement.
- Maintaining appropriate inventory levels while minimizing excess inventory and reducing carrying costs.
Professional Development & Growth Opportunities
Epiq Scripts is committed to investing & supporting employee growth and continuous improvement. Employees in this role may have opportunities to:
- Lead cross-functional operational improvement initiatives.
- Expand expertise in pharmaceutical procurement, inventory management, regulatory compliance, and healthcare supply chain operations.
- Participate in approved job-related training, continuing education, seminars, and professional development opportunities.
- Contribute to the development and implementation of procurement and inventory best practices.
- Grow into senior procurement, supply chain, operations, or leadership opportunities as the organization continues to expand.
- Participate in vendor training, pharmaceutical product education, ERP system training, inventory management software training, FDA/USP compliance education, and other job-related professional development opportunities as approved.
Pay: $60,000.00 - $70,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Application Question(s):
- How many years of pharmacy procurement and inventory experience do you have?
Experience:
- pharmacy procurement: 2 years (Required)
- Inventory management: 2 years (Required)
- Supply chain management: 2 years (Required)
Ability to Commute:
- Richardson, TX 75081 (Required)
Work Location: In person
