Procurement Manager

Company :An Indian multinational conglomerate with a multibillion dollar revenue. With over 35,000 employees, the group operates more than 50 manufacturing facilities across India and the world, with a presence in diverse sectors including technology, automotive, home and building and healthcare.Job Summary:We seek a proficient category manager for Electrical & Electronics components, parts and accessories category to join our team As a category manager, you will be responsible for strategizing, sourcing, and managing the procurement of essential parts andElectrical & Electronicscomponents. This role involves optimizing supplier relationships, ensuring cost efficiency, and delivering high-quality products on time to meet organizational objectives.Key Responsibilities:1.⁠ ⁠Category Strategy Development:Develop and implement procurement strategies forElectrical & Electronicscomponents, parts and accessories.Conduct market analysis to identify trends, risks, and opportunities within the category.Align category strategies with organisational goals and objectives.2.Sourcing:Identify, evaluate, and negotiate withElectrical & Electronicscomponents, parts and accessories suppliers.Create and execute RFI/RFP/RFQ in collaboration with key internal stakeholders. Perform price discovery for materials and services and identify the right price and suppliers forElectrical & Electronicscomponents, parts & accessories.3.⁠ ⁠Supplier Management:Build strong relationships with suppliers to ensure quality, reliability, and cost efficiency. Conduct supplier audits and performance reviews to maintain high standards.4.⁠ ⁠Cost Optimization:Deploy zero-based costing (ZBC) and should-cost based approaches to thoroughly evaluate and justify procurement costs, ensuring optimal budget utilization. Negotiate contracts, pricing, and terms with suppliers to achieve cost savings. Analyze procurement data to identify cost-saving opportunities and improve efficiency. Monitor and manage category budgets on a quarterly basis.5.⁠ ⁠Stakeholder Collaboration:Work closely with internal teams, including engineering, operations, and quality, to understand procurement needs. Collaborating with various teams, like marketing, sales and operations, to identify and implement new products and services. Work along with engineering and operations function in implementing technical changes & coordinate for commercial impact if any.6.⁠ ⁠Reporting and Analysis:Prepare regular reports on procurement performance, including cost savings, vendor performance, and risk management activities. Analyze procurement data to identify trends and opportunities for improvement.7.⁠ ⁠Risk Management:Identify and mitigate risks associated with the supply chain forElectrical & Electronicscomponents, parts and accessories. Develop contingency plans to address potential supply chain disruptions.8.⁠ ⁠Compliance and Standards:Ensure adherence to organizational policies, industry standards, and regulatory requirements.Support the development and implementation of procurement policies and procedures.Drive ethical sourcing practices and sustainability initiatives within procurement functions.Qualifications:Bachelor's degree in Electrical & Electronics Engineering, or a related field. A master's degree or MBA is a plus.Professional certifications such as CPSM, CPP are advantageous. Proven experience in procurement or category management of Electrical & Electronics components, parts and accessories. Hands-on experience in the sourcing and procurement activities of similar category.7+ years of experience as a Electrical & Electronics components, parts and accessories category manager in EPC / Engineering companies / Industrial product companies.Required skills:Understanding of pricing strategies, margin analysis and profitability optimization.Ability to conduct market research consisting of both primary and secondary research.Strong negotiation and contract management skills.Knowledge of manufacturing processes related to steel raw material manufacturing, Electrical & Electronics sheet metal parts, casting, welding, machining, and assembly.Strong understanding of procurement principlesExcellent analytical and problem-solving abilities.Ability to work in a fast-paced, dynamic environment and adapt to changing market conditions.Proficiency in procurement software and tools.Effective communication and stakeholder management skills.Knowledge of market trends and technological advancements relevant to Electrical & Electronics components, parts and accessories procurement.