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Procurement Analyst
2 months ago
We are looking for a motivated and analytical economics graduate to join our sourcing & procurement team. This role is critical in analysing cost drivers, developing and executing sourcing & procurement strategies, monitoring supplier performance, and managing procurement projects to optimise the supply chain. The successful candidate will also ensure the company’s sourcing efforts align with environmental, social, and governance (ESG) standards while driving cost efficiency and supplier excellence.
Key Responsibilities
- Cost Benefit Analysis:- Analyse cost economics to identify and understand key cost drivers within the company’s products.- Support the development of raw material procurement strategies that prioritise cost savings, supply reliability (risk mitigation), and sustainable sourcing.- Provide data-driven insights to influence decision-making on procurement initiatives.
Supply and Demand Dynamics:
- Analyse global raw material supply and demand trends to inform sourcing decisions.- Build business cases for adopting new suppliers, ensuring alignment with long-term procurement goals.- Proactively identify risks and opportunities in global supply markets and adjust procurement strategies accordingly.
Procurement Strategy Development and Execution:
- Develop, plan, and implement procurement strategies, including data analysis, market research, price negotiations, demand forecasting, import substitution, and sourcing new suppliers.- To keep a track on inventory and to take informed purchasing decisions based on lead time, cost of procurement, payment terms, etc.- Finalise agreements with both existing and new suppliers, negotiating key commercial terms such as pricing, payment terms, minimum order quantities (MOQ), and contractual conditions.- Ensure all agreements meet business needs and mitigate risks related to supply chain disruptions.
Supplier Relationship and Contract Management:
- Lead negotiations with suppliers to finalise commercial terms, including pricing, payment terms, and other standard contractual agreements such as forecasts and MOQs.- Manage relationships with existing suppliers while identifying and qualifying new suppliers to ensure competitive pricing and reliable supply chains.
Supplier Performance and ESG Metrics:
- Monitor and evaluate supplier performance using key metrics, including price, quality, on-time delivery, and ESG (environmental, social, and governance) standards.- Establish a balanced sourcing framework that integrates cost, performance, and ESG metrics.- Drive supplier excellence by collaborating closely with suppliers to enhance their adherence to ESG standards.
Project Management and Continuous Improvement:
- Lead procurement projects aimed at cost reduction, localisation of suppliers, and improvement of on-time, in-full (OTIF) performance.- Collaborate with cross-functional teams to drive successful execution of procurement initiatives within specified timelines and budgets.- Implement continuous improvement strategies to optimise procurement processes and supplier relationships.
Anticipate challenges and chart ways to deal with them:
Meeting Conduct: Evaluate whether meetings are goal-oriented and efficient. Observe if team members are
contributing equally or if certain individuals dominate conversations without adding value.
Problem Resolution & Senior Involvement: Assess whether senior team members are stepping in to assist when
problems arise or if they are detached from day-to-day challenges.
Identifying Problem Solvers & Roadblocks: Recognize individuals who contribute to team success and those who
may be delaying or blocking progress.
Team Dynamics & Engagement: Look for signs of disengagement or tension, evaluating cross-functional
collaboration and overall team energy.
Qualifications and Skills:
- MBA students with Engineering / Pharma / Biotech degree who would pass out in 2025 with 2-3 years prior work experience OR MBA students with Engineering / Pharma degree with 1 year experience as Procurement Analyst .- Strong analytical skills and understanding of cost economics and global supply and demand dynamics.- Experience in negotiating and executing supplier agreements, including finalising commercial terms.- Familiarity with ESG frameworks and sustainability metrics in procurement and supply chain management.- Excellent project management skills, with the ability to manage multiple priorities and deadlines.- Strong communication and negotiation skills for effective supplier relationship management.- Proficiency in data analysis tools and supply chain software (e.g., Oracle Netsuite, Excel).
Preferred :
Experience in procurement, supply chain management, or a related field.
Knowledge of procurement practices within manufacturing or consumer goods industries
What We Offer:
Competitive salary and benefits package.
Opportunity to work in a dynamic, innovative environment.
A chance to contribute to sustainable and responsible procurement practices.
Application Instructions:
To apply, please submit your resume and a cover letter detailing your interest in the role and how your skills align with the key responsibilities and qualifications to Mr. Kulvinder Sarao, CHRO-Panacea Biotec on his email address
