As a procurement officer, are you responsible for lowering your company's' overall costs?

The answer without any hesitation is YES

AS this is the main task and responsibility of Procurement Function in any Organisation 

Lowering the overall cost could be by the following :

1. By utilizing the existing resources.
2. Sourcing the right Quality (as per exact business requirements).
3. Source from the right vendor (Right capabilities & after sales support).
4. In right time (Not before or after). 
5. Right quantities (Not more or less).
6. By right way (Precise contractual terms and conditions).
7. In Right place. ( in order to avoid unnecessary transportation charges).
8. In right Price

The answer is a big YES. Major portion of any company's revenues is finds exit way through procurement department, the other exits being Salary and Administrative Expenses. As a Procurement Office holder, it is our prime most responsibility that each and every penny is spent in the most productive way and the company gets value for money, which would eventually lead to cost reduction on overall basis.

Its a long time since I was a Procurement Officer.

However as a Head of Procurement, I am tasked with many strands of ensuring my department adds value to the company.

It that is by lowering the bottom line costings, ensuring value is engineered into a project, then I feel I am achieving my aim.

But it would be a tall order to state that Procurement should be responsible for lowering all of the company's costs.

Every department needs to be part of that endeavor.

Yes and Yes ,But You to consider your quality of  purchased , is it the best one for your company request.Also lowering of the price does not mean always cheap price ,you has to keep the value of money in what you purchase.

Certainly, procurement officer is responsible for lowering company's overall cost by selecting lowest bidder/vendor. However, there is a relation between cheap price and quality of product. Procurement officer must ensure fair competition of the bid and by doing so he or she will be able to ensure better product with lowest price. Lowest price is not cheapest price. Lowest bidder is of course obliged to deliver quality product as per contract. In addition, contract should be complete and well defined.

yes, because.. your main aim is to strategising to find cost-effecctive deals and suppliers..his major aim is to get the best deals for the company, nprice not with standing

My primary goal is to achieve best value for money and not lowering the overall costs !

Of course, one of the priorities of a procurement officer's job is to reduce costs by finding the best and cheapest materials

A big YES, under Procurement management supervisory and guide lines by using adequate sourcing and cost control methodology, a procurement officer is core responsible for lowering overall cost of the company.

Yes. It is considered part of the role requirement that the procurement officer will secure supply of provisions and services at the best rate and continued supply. This also includes obtaining competitive pricing as a way of applying checks and measures to the ethiczl validity of transactions.

If procurement staffs are buying without applying these measures, then simply, are they holding the companies best interests at heart?