Senior Vendor Development Manager

We are seeking a highly experienced and strategic Vendor Development Manager for a senior position within our sourcing division. The ideal candidate will have over 20 years of experience in the engineering and manufacturing sectors, with a strong focus on developing and managing supplier relationships. This role will be pivotal in identifying new vendors and maintaining existing ones for the supply of high-quality machined and fabricated parts for capital equipment. The successful candidate will manage a business volume of up to $5 million, ensuring that all sourced components meet the exacting standards required for machinery manufactured in the US and Europe.

Key Responsibilities:

• Vendor Identification and Development:
• Identify and cultivate relationships with new vendors across India who can supply machined and fabricated parts with special finishes, ensuring they meet the quality, cost, and delivery requirements of the business.
• Utilize extensive industry experience and a well-established network to onboard reliable vendors quickly and effectively.
• Vendor Management:
• Maintain strong, productive relationships with existing vendors, ensuring consistent supply chain reliability and performance.
• Conduct regular assessments and audits of vendor performance, addressing any issues related to quality, cost, or delivery timelines.
• Strategic Sourcing and Procurement:
• Lead the strategic sourcing initiatives for critical parts and sub-assemblies required by machinery manufacturers in the US and Europe.
• Negotiate contracts and agreements with vendors to secure the best possible terms for the company, balancing cost efficiency with quality assurance.
• Quality Assurance and Compliance:
• Work closely with the quality assurance team to ensure all vendor-supplied parts meet the required technical specifications and adhere to industry standards.
• Implement corrective actions with vendors as needed to resolve any quality issues promptly.
• Project Leadership:
• Oversee the end-to-end vendor development process, from initial identification to final delivery, ensuring projects are completed on time and within budget.
• Manage multiple sourcing projects, prioritizing tasks and resources according to business priorities.
• Financial Oversight:
• Manage and optimize a sourcing budget of up to $5 million, ensuring cost-effective procurement strategies without compromising on quality.
• Monitor and analyze sourcing expenditures, continuously seeking opportunities for cost reduction and efficiency improvements.
• Cross-functional Collaboration:
• Collaborate with engineering, production, logistics, and other internal teams to align vendor development activities with overall business objectives.
• Provide regular updates and reports to senior management on vendor performance and sourcing strategies.
• Qualifications:
• Bachelor s degree or Master Degree in Engineering, Supply Chain Management, or a related field.
• At least 20 years of experience in vendor development, sourcing, and supplier management within the machinery manufacturing sector.
• In-depth knowledge of the Indian vendor market for machined and fabricated parts with special finishes.
• Proven success in managing vendor relationships and sourcing high-quality parts within budgetary and timeline constraints.
• Strong negotiation, communication, and project management skills.
• Experience managing a business volume of up to $5 million.
• Familiarity with international sourcing practices, particularly for US and European markets, is advantageous.
• Desired Skills:
• Strong analytical and strategic thinking abilities.
• Ability to lead and make informed decisions independently.
• Proficiency in Microsoft Office Suite and relevant procurement software.