Procurement Manager

2 weeks ago

Bhiwandi, Maharashtra, India The Sleep Company Full time
Job Summary:
The Procurement Manager will play a critical role in managing and optimizing the sourcing and procurement of materials required for our mattress / Sofa production and related products. You will be responsible for establishing strong relationships with suppliers, negotiating favorable terms, and ensuring the timely and cost-effective acquisition of all raw materials, components, and finished goods. Your role will directly impact product quality, inventory management, and cost-efficiency, enabling us to deliver an outstanding product to our customers.
Key Responsibilities:
Supplier Management:
- Identify, evaluate, and select suppliers for various raw materials (foam, fabric, springs, etc.), packaging, and other components required for production.
- Negotiate pricing, terms, and contracts with suppliers while maintaining quality standards.
- Develop and maintain strong relationships with existing suppliers, ensuring high levels of communication and collaboration.
- Monitor supplier performance (quality, delivery time, reliability) and implement corrective actions as needed.
Procurement Strategy & Planning:
- Develop and implement procurement strategies that align with production schedules and business goals.
- Collaborate with Product Development, Operations, and Inventory teams to forecast material requirements based on sales projections, production needs, and market trends.
- Identify cost-saving opportunities while ensuring the availability of high-quality materials.
- Maintain a comprehensive understanding of industry trends, supplier capabilities, and innovations in mattress production materials.
Inventory Management:
- Oversee inventory levels of raw materials and components, ensuring a balance between cost-efficiency and supply availability.
- Ensure proper stock levels to avoid production delays while minimizing excess inventory.
- Implement just-in-time procurement techniques to minimize storage costs and ensure materials arrive in a timely manner for production.
Cost Control & Budgeting:
- Monitor procurement budgets and ensure expenditures remain within established limits.
- Perform cost analysis for all purchased materials and goods, identifying opportunities for savings and cost reduction.
- Track and report on procurement performance metrics (e.g., cost savings, lead time, supplier performance).
Cross-Functional Collaboration:
- Work closely with the Operations, Production, and Quality Control teams to ensure the seamless integration of procurement with production schedules.
- Support the logistics team in coordinating the timely and cost-effective delivery of materials to manufacturing facilities.
- Collaborate with the Customer Service and Sales teams to ensure customer orders are met with minimal delays and quality issues.
Compliance & Risk Management:
- Ensure all procurement practices comply with company policies, industry standards, and regulatory requirements.
- Conduct risk assessments for supplier selection and material sourcing to minimize business disruptions.
- Stay up-to-date on regulatory requirements and sustainability practices relevant to raw materials and production processes.
Continuous Improvement:
- Continuously evaluate and improve procurement processes, technology, and systems to enhance efficiency and effectiveness.
- Stay informed on emerging technologies and best practices in procurement and supply chain management.

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