Lead and mentoring a dynamic team of purchasing professionals.
To review the Business Plan and with the inputs from Marketing prepare the Procurement plan
To analyze market and delivery systems to assess present and future material availability.
To monitor and analyze the trends in procurement spending and inventory control in order to make recommendations for future, and to identify areas for possible savings
To effectively plan and build vendor relationships for ensuring continual support, cost effective and quality procurement.
To study global trends in procurement for iron alloys, scrap, HMS Steel, Cast Iron and other critical items to take decision on strategic sourcing by way of imports or domestic purchase
Establishing and maintaining measurable performance metrics for all levels of procurement activities to include but not limited to supplier performance, supplier quality, internal order placement performance, buyer activity levels, financial (AP) performance, and material shortage elimination. cost savings etc.
Report to management the measurable status of progress and corrective actions as it pertains to supplier performance.
Market Intelligence :Keeping total vigilance on the market for exploring the right time of buying, spot purchases& maximum procurement at the most beneficial price
Plan strategy for negotiation based on various parameters viz. value engineering, international trend, demand supply, cross currency equations. Etc. Ensure best cost & reliable supply & service support
Aim at significant reduction in procurement price through effective negotiations, market intelligence, reverse auctions etc.
Manage material flow to insure inventory is maintained to the optimum level to support on time customer deliveries while keeping inventory holdings at the appropriate levels.
Supplier selection/de-selection, evaluation and rationalization of Supply chain solutions, including vendor managed inventory (VMI), supplier consignment, safety stock levels, etc.
Develops an overall vendor base which creates and sustains a competitive advantage, utilizing global market exploitation, leveraging spend, and leveraging of technologies.
Manages materials savings initiatives in line with profit plan and overall business objectives.
Liaison with Marketing Team, Finance, PPC, Engineering & other service departments to ensure alignment of activities and objectives
Exploring new ideas and concepts for cost saving by means of outsourcing, optimized packing, reducing freight cost etc.
Vendor development in domestic & international market, which includes selecting the right vendor, quality establishment, finalizing all the commercial terms & conditions & contracting for long term, either with a fixed or variable price, after working out the market dynamics & benefits
Streamlining SAP and ensuring its smooth functioning
To manage effectively, capital and revenue expenditure within the budgets set in order to deliver both cashable and non-cashable savings against agreed targets
To effectively negotiate with the key suppliers to obtain optimum credit period for the company
To identify the most cost effective logistics solution - both inward and outward logistics
To ensure minimum cost through minimization of Idle Freight cost, Sub-Optimal cost and Inventory Carrying cost
Identify and develop key talent and appropriately manage underperformers to ensure success of all individuals in the department.
Identify and implement process improvements to increase efficiency and accuracy.
Personality Traits & Skills
Strong in negotiations
Sound knowledge of commercial aspects, import export procedures, / Logistics arrangement
Sound knowledge of Indirect taxes Excise/ Sales tax/ VAT
Strong working knowledge of vendor development, cost cutting inventory planning, forecasting techniques as well as operational systems and warehouse management, Stores Management etc.
Banking / document procedures/ LC management/ Guarantees /Warranties
Contract writing Supply / Service Contracts
Good analytical skills and an innovative approach to problem solving
Strong written communication and presentation skills required