Strategic Sourcing Specialist

About Us:ITW is a Fortune 500 diversified manufacturing company that was founded on innovation and expanded on the strength of its customer commitment. For over 100 years, ITW employees have kept an entrepreneurial spirit alive that is deeply rooted in the past and firmly focused on its customers. Today, we are ITW - a global Company dedicated to fostering a future of innovation.ITW Global Automotive ITW:Global Automotive is a division of ITW and manufactures and sells wide range of products for various automotive applications. Our components include stamped parts and assemblies, and drawn metal parts produced at major manufacturing sites worldwide. We also provide an industry-leading line of metal and plastic fasteners that continue to set standards for design versatility and reliability. In addition to ITW’s high-tech research and development capabilities, we enhance our customers’ competitive advantage by: a) Maintaining advanced engineering and manufacturing facilities. b) Exchanging product and processing information with sister units worldwide. c) Continually improving processes, materials and designs to ensure every product exceeds industry standards for quality and integrity ITW Global Automotive in India has 2 manufacturing facilities in Pune & Chennai and caters to majority of the Auto OEM’s both national and multinational and their tier suppliers.The Opportunity:Strategic Sourcing Specialist to develop and implement improved strategic sourcing policies. , negotiating cost-effective contracts with key suppliers, and Coordinating with Operation /SCM team with help of Strategic sourcing analyst. They should be able to demonstrate sound knowledge of negotiation strategies and extensive experience in a similar role. An accomplished strategic sourcing specialist will be someone whose expertise translates into higher profit margins and a competitive advantage.This role is 100% onsite (Viman Nagar Office), includes 10-20% of times travelling to suppliers/ITW plant at Sanaswadi etc.Roles & Responsibilities:Evaluating sourcing procedures and presenting improvement strategies to senior management for approval. Analyzing and calculating procurement costs and developing cost reduction strategies. Sourcing of suppliers for components & consumables. Driving purchasing decisions based on cost and scenario analysis, as well as market trends. Negotiating contracts with key suppliers, including costs and terms of supply, service, and quality. Collaborating with the Operations to identify and pursue new supplier opportunities. Interpreting market research reports , as well as creating cost estimates and forecasts to be submitted to finance Estimating risks and applying risk minimizing techniques, as well as negotiating contracts that comply with industry regulations. Maintaining strategic sourcing relationships and developing strong partnerships. Creating dashboard for respective categories & performance. Defines and drives values, ITW Business Model and decentralized culture of the organization with the leadership team. Champions digitization and automation of processes to improve efficiency and effectiveness of organization processes Tool makers can be located in India and China, so travelling will be required for supplier visits.Experience:Must have 7-9 years of Experience, should possess knowledge of commercial terminologies, plastic process & Automotive Industry & Electrical & Electronics commodities. Candidate should have experience in collaboration work with internal CFT & suppliers, SRM, Should costing, driving cost reduction initiatives, Good hands on in excel, SAP & power BI. Exposure to Engineering Polymers Molding, Electrical & Electronics commodities would be preferred.Skills:Forecasting Strategic planning Negotiation Co-ordination Execution Pro-activeness Systematic Continuous improvementWhy you will love working at ITW Automotive India:Comprehensive Coverage : Group Mediclaim, Term Life & Personal Accident Insurance for your peace of mind. Stay Healthy : Enjoy Periodic Annual Health Check-ups to keep you at your best. Work-Life Balance : Generous Paid Leave to recharge and focus on what matters most. Catering to You : Subsidized Canteen Facilities for a convenient and affordable dining experience. Celebrating Milestones : Long Service Awards to recognize and reward your loyalty. Recognition & Rewards : A culture of appreciation with exciting Rewards & Recognition programs. Investing in Your Future : Children Education Award to support your family’s educational goals. A Vibrant Community : Engaging Employee Welfare Activities for fun and team bonding. Inclusive & Supportive : Join Employee Resource Groups to connect and grow with like-minded colleagues. Endless Growth : Access to Learning & Networking Opportunities for personal and professional development.We believe in providing equal opportunities for all individuals and fostering a workplace that values diversity, inclusion, and respect for all employees.