Procurement Manager

3 weeks ago

Coimbatore, India Versa Drives Private Limited Full time

As a Procurement Manager at Versa Drives Private Limited in Coimbatore, your role encompasses various responsibilities related to sourcing, purchasing, and managing suppliers to ensure the efficient acquisition of materials necessary for the company's operations. Here's a comprehensive job description for the position:


Position Title: Procurement Manager

Company: Versa Drives Private Limited

Location: Coimbatore


Rich experience in Electronic components procurement is MANDATORY to apply for this position.


Responsibilities:

  1. Strategic Sourcing:
  • Develop and implement procurement strategies to ensure the timely and cost-effective acquisition of materials, components, and services.
  • Identify and qualify suppliers based on quality, reliability, and cost considerations.
  • Negotiate contracts and terms with vendors to secure favourable pricing and delivery terms.
  1. Monitor market trends and supplier performance to optimize sourcing decisions.


2. Supply Chain Management:

  • Manage the end-to-end supply chain process, from forecasting demand to inventory management and logistics.
  • Coordinate with production, engineering, and other departments to forecast material requirements and ensure adequate inventory levels.
  • Implement lean supply chain practices to minimize lead times, reduce costs, and improve efficiency.
  • Collaborate with logistics partners to optimize transportation and warehousing operations.


3.Supplier Relationship Management:

  • Cultivate strong relationships with key suppliers to foster collaboration and drive continuous improvement.
  • Conduct supplier performance evaluations and provide feedback to ensure compliance with quality and delivery standards.
  • Resolve supplier issues and disputes in a timely and effective manner.
  • Identify opportunities for supplier consolidation and strategic partnerships to streamline procurement processes.


4.Cost Management:

  • Develop and manage procurement budgets to achieve cost savings targets while maintaining quality standards.
  • Conduct cost analysis and identify opportunities for cost reduction through value engineering, negotiation, and process optimization.
  • Implement cost tracking mechanisms to monitor expenditures and identify areas for improvement.

5.Risk Management:

  • Identify and assess risks within the supply chain, including supplier reliability, geopolitical factors, and market volatility.
  • Develop risk mitigation strategies and contingency plans to minimize disruptions to the procurement process.
  • Monitor geopolitical and market trends that may impact supply chain stability and proactively adjust procurement strategies as needed.

6.Compliance and Ethics:

  • Ensure compliance with procurement policies, procedures, and regulatory requirements.
  • Promote ethical sourcing practices and adherence to corporate social responsibility standards.
  • Conduct supplier audits and assessments to verify compliance with ethical and sustainability standards.


Requirements:

  • Bachelor’s degree in business administration, Supply Chain Management, Engineering, or a related field; master’s degree preferred.
  • Proven experience as a procurement manager in the electronics equipment manufacturing industry or a similar technical field.
  • Strong knowledge of procurement best practices, supply chain management principles, and contract negotiation techniques.
  • Familiarity with electronic components and manufacturing processes.
  • Excellent negotiation, communication, and interpersonal skills.
  • Ability to analyse data, identify trends, and make data-driven decisions.
  • Proficiency in procurement software and ERP systems.
  • Certification in procurement


The Procurement Manager plays a critical role in ensuring the efficient and cost-effective acquisition of materials, components, and services essential to the electronics equipment manufacturing process. This position requires strategic thinking, strong negotiation skills, and a deep understanding of supply chain dynamics to optimize procurement processes and drive business success in a competitive industry landscape.

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