Job
Description
Division Finance Department Operations Finance Sub Department 1 SCM Finance Job Purpose Provide strategic partnership to supply chain function in the area of procurement by a) defining & monitoring targets, b) Identifying areas & driving actions to achieve procurement financial goals & c) establishing adequate control and governance mechanisms in order to improve bottom-line & compliances Key Accountabilities (1/6) 1.Establish Annual operating plans, Budgets for Procurement, before set date across all Categories, reduce cost as per industry benchmarks to improve margins. Prepare and recommend Budgets before set date for direct procurement of direct material procurement across Categories for Cipla s Work with procurement team for forecasting rates based on past trends, expected volume in future, Current market scenario, Macro and Micro economic analysis, Demand-Supply scenarios. Discuss and present findings to FP&A costing team members, other cross functional team members. Suggest views on various assumptions and obtain approvals from the SCM Head & Global CFO Circulate Budgets across Cipla group to Various stakeholders Key Accountabilities (2/6) 2.Establish Processes and Systems to evaluate Variance, Year on Year cost reduction, Benchmarking, MTM analysis, actual savings against targets on monthly basis, to facilitate accomplishment of budgets. Prepare monthly MIS reports for Procurement and CAPEX, Variance Analysis, action plans to achieve savings targets. Conduct activities to ensure structured, relevant and validated data input for monthly presentations and reviews Prepare year on year savings report, Bench marking and MTM analysis Prepare detailed analysis of Spend, circulate MIS to stakeholders, & issue resolutions for MIS Discuss levers and additional initiatives required to accomplish targets Work with procurement in establishing rate contracts to reduce costs and leverage pooling of resources, on continuous basis Suggest measures to control cash flow by optimizing credit period, analysing lead times for local and imported procurement Key Accountabilities (3/6) 3.Evaluate and resolve various operational issues of procurement team related to finance (CAPEX, cross - functional and with external vendors) and provide support, in order to facilitate smooth operations. Co-ordinate with operations team for better visibility of cost & control over process Negotiate with vendors for high value direct material, CAPEX and disposal of scrap and wastes. For commodity based product ,monitor price trends, recommend Hedging / positions at bottom prices / Strategic positions to procurement head Approve advances as per the Delegation of Authority (DOA) for disposal of scrap and wastes Control advances for Procurement and CAPEX, co-ordinate to resolve issues related to payments. Co-ordinate and resolve cross functional issues involving finance Support business and finance team members for compliances to statutory and regulatory requirements Provide support for implementation of procurement policies Key Accountabilities (4/6) 4.Identify process gaps & drive automation projects for SCM in the areas of procurement, and MIS generation in order to improve efficiency & controls. Evaluate current information system, suggest actions on various issues and recommend appropriate improvements to optimize productivity and IT enablement Develop reports for strong internal financial controls, continuous process improvement and objective analysis Suggest changes for standardization of business processes related to Global procurement, CAPEX and disposals of scrap and wastes. Maintain documentation related to RFQs, Rate contracts, approval matrix in IT system Interact with IT, SAP and cross functional team members for implementation of IT initiatives Develop various reports in SAP to bring better visibility on issues Key Accountabilities (5/6) 5. Establish and Enforce DOA, Internal Financial Control (IFC) & Audit recommendation for procurement to achieve compliance. Review and suggest amendments to approval matrix, policies and other operational reports. Collect data, monitor performance of various business processes. Compile and submit reports to various stakeholders Conduct Internal financial control related activities for CAPEX, Direct procurement and SCM Finance Resolve issues / queries raised in Internal and External Audits Enforce data discipline for compliance to applicable regulations Prepare and review checklist to ensure that Systems are properly implemented Key Accountabilities (6/6) 6. Participate in various projects related to Global Procurement and CAPEX to achieve Cost control and facilitate accomplishment of targets in the context of regulatory changes. Evaluate and track various procurement related cost savings projects Evaluate financial impacts of various regulatory changes Suggest action to optimize costs and provide support in implementation across functions Prepare and communicate cost control reports Carry out various activities required for implementation of GST in Global procurement & CAPEX Major Challenges Continuous coordination and communication with 200 functional team members . Overcome by - Creating sub-teams and regular meetings with the team members . Multiple stakeholders and varied expectations (timelines, delivery, data, objectives) results in various Conflicts during execution of project. Overcome by - Facilitate focus on overall Organisational goals, process simplification, IT enablement and improvements to meet deadlines. End to end SAP usage for data accuracy and hygiene. Delay in data compilation, slowdown in business processes in view of lack of integrated approach for Issue resolution and solution development . Overcome by- System oriented approach, Automation Key Interactions INTERNAL Global Procurement Team on Daily basis for Data, issues, control, discussions Finance, Costing, FP&A, Domestic business, Accounts on Monthly / fortnightly basis for Data, Compliances, Issues Legal, Quality, MDM, Manufacturing Finance - as per need EXTERNAL Consultants for various projects / Special projects implementations such as EBITDA, GST SCM / CAPEX Vendors - Negotiations, Payment terms, resolution of issues Auditors - Data compilation, monitoring Processes, resolution of queries Researchers in the market- Obtain market insights, various reports Dimensions Procurement spend - Rs 4000 crores, 23000 SKUs, Team of 200 persons, savings target of Rs.120 crores, ~ 100000 PO s CAPEX spend - Rs. 1000 crores for all manufacturing locations, Team of 30 persons, Disposal of scrap Rs. 50 to 100 crores Team member in 2/3 projects per year, savings target of Rs.300 crores Cater to all geographies globally Key Decisions DECISIONS Approval for advance below Rs. 5.0 lacs RECOMMENDATIONS Recommend to all stakeholders increase in coverage for material at bottom level of prices Recommend changes in procurement strategy for identified materials, revised payment terms Recommend action in CAPEX quote comparisons in view of Volume variance Education Qualification CA/CMA with SAP preferably with certification of Commodities, Currencies Market Relevant Work Experience Minimum 3-5 years of experience in the field of Commodities / Procurement / Finance / Supply chain
