Material Sourcing Execuive

Qualification Required - BE - Electrical / Mechanical

Job Description is as follows :

1. Supplier Identification and Evaluation:

• Researching and Evaluating Suppliers:Actively seeking out new suppliers, assessing their capabilities (production capacity, quality control, financial stability), and comparing them based on various factors like price, quality, and delivery timelines.
• Conducting Supplier Audits:Evaluating potential suppliers' facilities and processes to ensure they meet the organization's standards.
• Building and Maintaining Supplier Relationships:Developing strong, long-term relationships with key suppliers to ensure reliable supply chains.

2. Procurement and Negotiation:

• Negotiating Contracts:Negotiating favorable terms and conditions with suppliers, including pricing, payment terms, delivery schedules, and quality standards.
• Managing Purchase Orders:Creating and managing purchase orders, ensuring accuracy and timely processing.
• Monitoring Supplier Performance:Tracking supplier performance against agreed-upon metrics, such as on-time delivery, quality, and cost.

3. Inventory Management:

• Monitoring Inventory Levels:Ensuring the organization has the right amount of materials on hand to meet production needs.
• Implementing Inventory Management Strategies:Optimizing stock levels to minimize waste and storage costs, potentially working with inventory management software.

4. Cost Management:

• Analyzing Costs:Analyzing material costs, identifying cost-saving opportunities, and implementing strategies to reduce procurement expenses.
• Developing Cost Reduction Initiatives:Working with suppliers and internal teams to implement cost-saving initiatives without compromising quality.

5. Compliance and Reporting:

• Ensuring Compliance:Adhering to all relevant laws, regulations, and company policies related to procurement.
• Generating Reports:Preparing and presenting reports on procurement activities, supplier performance, and cost savings.

6. Collaboration:

• Working with Internal Teams:Collaborating with other departments (e.g., engineering, sales, finance) to understand their material requirements and specifications.
• Supporting Other Teams:Providing support and expertise to other teams on procurement-related matters.

Job Type: Full-time

Pay: ₹20,000.00 - ₹30,000.00 per month

Benefits:

• Provident Fund

Education:

• Bachelor's (Preferred)

Work Location: Remote