Sourcing Executive

Job Description

Job Title: Sourcing Executive Location: Nashik Company: Spectrum Electrical Industries Limited Positions: 2 (Mechanical & Electrical) Experience: 2-5 years Job Summary: The Sourcing Executive is responsible for developing and implementing sourcing strategies to optimize the supply chain, reduce costs, and ensure a steady supply of quality materials and services. The role involves working closely with suppliers, negotiating contracts, and managing supplier relationships to meet the company's production and operational needs. Key Responsibilities: Supplier Management: Identify, evaluate, and select suppliers to meet quality and cost objectives. Develop and maintain strong supplier relationships. Strategic Sourcing: Adopt a proactive procurement approach, optimizing supplier relationships to maximize overall value rather than just minimizing costs. Negotiation: Negotiate pricing, delivery schedules, and payment terms with suppliers. Contract Management: Draft, review, and manage contracts and agreements with suppliers. Cost Reduction: Implement cost-saving initiatives and strategies without compromising quality. Market Analysis: Conduct market research and analysis to stay informed on industry trends, supplier capabilities, and competitive pricing. Quality Assurance: Work with the quality assurance team to ensure that sourced materials and services meet required standards and specifications. Risk Management: Identify and mitigate supply chain risks to ensure continuity and reliability. Data Management: Maintain accurate records of supplier performance, pricing, and contracts. Utilize ERP systems for data tracking and analysis. Cross-Functional Collaboration: Work closely with production, engineering, and finance teams to align sourcing strategies with business needs. Travel: Willingness to travel for supplier visits, industry conferences, and business meetings. Qualifications: Education: Engineering/Diploma in Mechanical, Electrical, or Electronics Experience: Minimum 2-5 years of experience in strategic sourcing and procurement Knowledge Requirements: Mechanical Sourcing: Understanding of mechanical components, systems, and sourcing best practices. Electrical Sourcing: Understanding of electrical components, systems, and sourcing best practices. Manufacturing Processes: Knowledge of injection molding, stamping, machining, and surface treatment processes like painting, plating, powder coating. Packaging: Familiarity with corrugated boxes, printed boxes, pouches, etc. Cost Reduction Techniques: Proficiency in various cost optimization tools and techniques. New Product Development: Experience in sourcing for NPD initiatives. Preferred Background: Candidates with experience in Wiring Devices & Accessories or Switchgear are preferred. Product awareness of Switches, Sockets, Accessories, MCBs, and Machined Components . Skills Required: Strong negotiation and contract management skills. Excellent analytical and problem-solving abilities. Proficient in ERP systems and Microsoft Office (Excel, Word, PowerPoint) . Effective communication and interpersonal skills. Ability to work in a fast-paced, dynamic environment . Strong organizational skills and attention to detail .