Strategic Procurement Professional

1 day ago

Mumbai, Maharashtra, India beBeeCostReduction Full time ₹ 9,00,000 - ₹ 12,00,000
Procurement Leader Job Description

As a Procurement Leader, you will play a critical role in driving strategic sourcing and procurement operations for our organization. This role is essential for optimizing costs, ensuring compliance, and supporting organizational growth through effective vendor management and market intelligence.

Our ideal candidate will have expertise in strategic procurement, cost management, and vendor relationships. They will be responsible for conducting in-depth research on the Excipients marketplace, identifying emerging trends, potential suppliers, quality standards, and regulatory compliance and competitive pricing structures to inform Procurement strategy.

We are looking for someone who can devise best-in-class procurement strategies for shortlisting products for short-term and long-term contracts. They will also identify cost-saving opportunities through supplier consolidation, contract renegotiations, price negotiations, value engineering initiatives, and exploring alternative API/Excipients solutions.

The successful candidate will engage in negotiations for all Class A vendors in partnership with the commercial team for materials contributing 60% of total spend across API and Excipient categories. Additionally, they will assess potential risks associated with API dependencies, including vendor lock-in, data security, and compliance issues, and implement mitigation strategies.

Risk Management and Regulatory Compliance

The Procurement Leader will navigate fluctuating market conditions, including pricing volatility and supply chain disruptions. They will ensure adherence to stringent regulatory requirements specific to the pharmaceutical industry and continuously assess vendor risk and develop mitigation strategies in response to potential challenges. Ensuring all sourced excipients meet the company's quality standards and regulatory requirements, including thorough quality control testing and documentation, is crucial for this role.

Performance Monitoring and Improvement

The successful candidate will facilitate weekly team reviews to track performance metrics such as AVDs and OTIF. They will provide inputs to the Head – Commercial Procurement during budgeting exercises to manage budget costs and requirements. The candidate will also evaluate potential suppliers through detailed due diligence processes, including site audits, quality reviews, and technical assessments to ensure they meet required standards.

Stakeholder and Relationship Management

The Procurement Leader will establish and maintain strong partnerships with key Excipients providers, monitoring performance, addressing issues, and driving continuous improvement. Building a highly motivated and result-oriented team to meet goals and objectives outlined by the Global Procurement Head is essential for this role.

Maintaining Quality and Compliance: Ensuring all sourced excipients meet the company's quality standards and regulatory requirements, including thorough quality control testing and documentation, while navigating stringent regulatory requirements specific to the pharmaceutical industry.

Driving Cost Reduction Targets: Identifying cost-saving opportunities through supplier consolidation, contract renegotiations, price negotiations, and value engineering initiatives.

Establishing Strong Partnerships: Establishing and maintaining strong partnerships with key Excipients providers, monitoring performance, addressing issues, and driving continuous improvement.

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