Senior Manager - Vendor Development and Contracting

Job Summary

Role holder will lead identifying, developing, and managing vendors to ensure supply of high-quality materials (raw material as well as packaging material) for ITC's Personal Care Products Business Division. Role involves strategic sourcing, negotiation, and contract management to optimize costs, improve supplier performance, and mitigate risks.

Key Responsibilities

• Vendor Development:
• Identify and evaluate potential vendors for raw materials, packaging, and other services required for the personal care products.
• Conduct thorough assessments and audits of potential suppliers to ensure they meet ITC's quality, ethical, and sustainability standards.
• Develop and maintain strong relationships with key suppliers to ensure continuous improvement and innovation.
• Strategic Sourcing:
• Lead the sourcing strategy for personal care product components, ensuring alignment with business goals and objectives.
• Analyze market trends, supply chain risks, and opportunities to develop strategies for cost reduction, quality improvement, and supply chain reliability.
• Collaborate with cross-functional teams (R&D, Quality, Production, Marketing) to understand and fulfill material and service requirements.
• Contract Management:
• Negotiate and draft contracts with suppliers to secure favorable terms, conditions, and pricing.
• Ensure contracts are comprehensive and include key performance indicators (KPIs) and service level agreements (SLAs) to measure supplier performance.
• Monitor contract compliance and manage renewals, amendments, and terminations as necessary.
• Supplier Performance Management:
• Implement supplier performance management processes, including regular reviews, performance metrics tracking, and corrective action plans.
• Address and resolve supplier performance issues promptly to minimize impact on production and product quality.
• Foster a culture of continuous improvement with suppliers through feedback, training, and collaborative problem-solving.
• Risk Management:
• Identify and mitigate risks in the supply chain, including potential disruptions, quality issues, and compliance concerns.
• Develop and maintain contingency plans to ensure business continuity in case of supplier failures or emergencies.
• Ensure compliance with all relevant regulations, standards, and corporate policies.
• Cost Management:
• Drive cost-saving initiatives through effective negotiation, value analysis, and alternative sourcing strategies.
• Monitor and report on cost trends, savings achieved, and opportunities for further cost reduction.

Qualifications

• Experience: Minimum of 8-10 years of experience (including leading teams) in vendor development, strategic sourcing, and contract management, preferably in:
• Personal Care industry, OR
• FMCG industry, OR
• Fragrancing Houses OR
• Chemicals industry.
• Solid understanding of supplier networks and materials
• Strong negotiation and contract management skills.
• Excellent analytical and problem-solving abilities.
• Proven ability to manage multiple projects and priorities simultaneously.
• Strong communication and interpersonal skills
• Team management skills