Sourcing Specialist

Company Description Dr Reddy s Laboratories Ltd is a leading multinational pharmaceutical company based across global locations Each of our 24 000 plus employees comes to work every day for one collective purpose to accelerate access to affordable and innovative medicines because Good Health Can t Wait We started in 1984 with a modest investment 20 employees and a bold vision Today we have research and development centres manufacturing facilities or a commercial presence in 66 countries For nearly four decades we have stood for access affordability and innovation based on the bedrock of deep science progressive people practices and robust corporate governance As the pharmaceutical industry evolves and undergoes disruption we see an opportunity - to strengthen our core further the next steps and to build the future the new bets The Next and the New is how we aim to continue to be the partner of choice - purpose-driven future-ready and sustainable Our aim is to reach over 1 5 Bn patients across the world by 2030 by growing our core businesses and building for the future with sustainability at the core of our purpose and strategy Sustainability for us means operating in a manner that respects people planet and purpose - helping us conserve precious resources serve our patients create value for stakeholders give back to society fulfil our potential and maintain our integrity and transparency Dr Reddy s maintains a work environment free from discrimination and is an equal opportunity employer We are committed to employ nurture all qualified diverse workforce without regard to race colour religion nationality sex age disability status genetics sexual orientation gender expression citizenship or any other characteristic or classification protected by applicable law s of the country we operate in We treasure every talent and recognize merit and diversity in our organization Job Summary We are looking for an experienced Sourcing Specialist for leveraging market insights conducting clean sheet costing and implementing effective negotiation strategies The role involves continuous monitoring and negotiation with suppliers optimizing purchase order management and contributing to cost optimization supplier relationship management and strategic sourcing initiatives for Trade Generics business Roles Responsibilities You will be responsible for sourcing and procurement of KSMs Intermediates and other materials for API development and filing being taken-up at DRILS IPDO and other places You will have to work closely with product development teams RDO planning production and other CFTs in sourcing and procurement of materials at right right time with right cost and quality You will be responsible for utilizing commodity intelligence to gain market insights predict future prices based on micro macro trends and monitor price trends for input materials You will be responsible for preparing and analyzing clean sheet costing for products creating effective negotiation strategies with suppliers to ensure cost efficiency You will be responsible for leading continuous monitoring and negotiation with partners to secure the best prices for all trade generics products maintaining Price Information Records PIR for products You will be responsible for ensuring purchase orders are placed on suppliers based on lead time considerations optimizing the procurement process You will be responsible for continuously exploring alternate options suppliers to secure the best prices Track and monitor supplier performance providing financial data support to team members for effective negotiation strategies You will be responsible for monitoring On-Time-In-Full OTIF and Delivery in Full Complete and On-Time DCO metrics to maximize weightage Stay informed about emerging technologies and suppliers to optimize cost models o You will be responsible for generating ideas for process and cost improvement action points actively participating in the implementation and regular monitoring of these initiatives Preparing strategy document Analyzing procurement data Signing-off Supply Agreements with suppliers in accordance with 3-year Strat Plan Price Volume adherence in accordance with FY Budget Cost reduction avoidance adherence OE Savings Target 95 achievement Supplier OTIF Associate responsibility RM Support to New launches No Launch Miss rejections for category supplies Rejections 1 Adherence to ESG program in accordance with FY plan Facilitate GQM Supplier Audit requirements and CAPA Closure Nil pending Signing-off Quality Agreements with supplies in accordance with GQM CY plan Nil pending Liquidation of slow and non-moving material Bench Marking Qualifications Education Qualification - Bachelor s or Master s degree in Science Minimum Experience Required- 5-7 years of experience in Strategic sourcing and procurement Skills attributes - Technical Skills Proven experience in commodity intelligence clean sheet costing and sourcing strategy development Strong negotiation skills and strategic sourcing expertise Familiarity with digital tools and key performance metrics Knowledge of import functions sourcing tools and market dynamics Knowledge of emerging technologies and trends in the sourcing domain Familiarity with advance licenses and budget management Behavioural Skills Excellent communication and interpersonal skills Business Acumen Decision Making Good Negotiation Skills Strategic thinking and problem-solving skills Performance oriented and good at building leveraging relationship Ability to work collaboratively with own team and cross-functional teams Additional Information About the Department Integrated Product Development Organisation We integrate our deep science capabilities and cutting-edge technology to develop innovative accessible and affordable therapies for patients worldwide We are a science-driven innovation-focused pharmaceutical company committed to accelerating access to healthcare solutions to patients around the world We have End to end capabilities in API Formulations Clinical Intellectual Property and Regulatory Affairs We are serving 55 markets including USA Canada Europe China LATAM ASEAN and all Emerging Markets with innovative and generic products ranging from Active pharmaceutical ingredients API Oral formulations Parenteral Injectables Opthalmics Other dosages Our product development efforts drive a portfolio of more than 1 000 products Enabled by our robust R D team consisting of more 200 scientists and functional experts and more than 150 doctorates we have filed 1 071 patents and also published over 1 000 papers for peer review over the years Benefits Offered At Dr Reddy s we actively help to catalyse your career growth and professional development through personalised learning programs The benefits you will enjoy at Dr Reddy s are on par with the best industry standards They include among other things and other essential equipment joining relocation support family support Maternity Paternity benefits learning and development opportunities medical coverage for yourself and your family life coverage for yourself Our Work Culture Ask any employee at Dr Reddy s why they come to work every day and they ll say because Good Health Can t Wait This is our credo as well as the guiding principle behind all our actions We see healthcare solutions not only as scientific formulations but as a means to help patients lead healthier lives and we re always attuned to the new and the next to empower people to stay fit And to do this we foster a culture of empathy and dynamism People are at the core of our journey over the last few decades They have been supported by an enabling environment that buoys individual ability while fostering teamwork and shared success We believe that when people with diverse skills are bound together by a common purpose and value system they can make magic For more details please visit our career website at https careers drreddys com