Purchase & Sourcing Executive

4 days ago

madhya pradesh, India Kyari (A Brand of Select) Full time
Job Title: Purchase & Sourcing Executive - New Product Development (NPD)
About the Company:
We are a budding home decor start-up, yet a leading one in the D2C space.
Two years ago, with a small team from Indore, we launched our game-changing self-watering planters. We believed then, as we do now, that home decor should be both beautiful and hassle-free.
Our self-watering plants with planters were an instant hit. Customers loved the idea of watering their plants just once a week. It has made plant parenting a breeze. And with their continued support, we have become known for delivering top-notch products that combine style and function seamlessly.
Our goal is to shake up the home decor industry by offering innovative solutions. We promise quick delivery of live plants, stunning design, premium quality, and easy plant care.
Join us as we pave the way for a new era in home decor
To know more visit:
Overview:
The Purchase & Sourcing Executive (NPD) will be responsible for overseeing and managing the sourcing and procurement of raw materials, components, and finished products essential for new product development. This role requires a proactive individual with strong market insight, negotiation skills, and a keen understanding of the NPD lifecycle. You will work closely with product development, engineering, and quality teams to ensure the timely delivery of quality materials that meet project timelines and cost targets.
Key Responsibilities:
Supplier Identification & Evaluation:
Identify, assess, and qualify potential suppliers and vendors to meet the specific requirements of NPD projects.
Conduct regular audits and evaluations to ensure suppliers meet quality, cost, and delivery requirements.
Negotiation & Procurement:
Negotiate pricing, terms, and conditions to secure favourable agreements with suppliers.
Issue purchase orders, track progress, and ensure on-time delivery in alignment with project timelines.
New Product Sourcing:
Source materials, components, and equipment required for new products and coordinate closely with R&D, engineering, and quality assurance teams.
Conduct cost analysis and recommend sourcing strategies that align with project cost targets.
Inventory & Cost Management:
Maintain optimal inventory levels to avoid shortages during NPD while minimizing excess stock and related holding costs.
Analyse pricing trends and factors affecting materials costs to support budgeting and forecasting for NPD.
Supplier Relationship Management:
Build and maintain strong relationships with key suppliers to foster collaboration and resolve issues.
Work with suppliers to implement continuous improvement initiatives, and align their capabilities with the company's product goals.
Documentation & Compliance:
Ensure that all purchasing records, specifications, and contracts are accurately maintained and comply with company policies and regulations.
Coordinate with quality and regulatory teams to ensure that sourced materials and components meet relevant standards.
Key Requirements:
Education: Bachelor’s degree or Supply Chain Management, Procurement, Engineering, Business Administration, or related field.
Experience: 2-4 years in sourcing and purchasing, along with exposure to new product development will be an added advantage.
Skills:
Strong negotiation and analytical skills.
Excellent communication and interpersonal skills.
Ability to work independently and collaboratively within cross-functional teams.
Proficient in ERP and sourcing software (e.g., SAP, Oracle, etc.).
Detail-oriented with strong organizational skills.
Competencies:
Market Insight:
Up-to-date knowledge of suppliers, materials, and market trends within relevant industries.
Project Management: Ability to manage multiple NPD projects and work under tight deadlines.
Problem Solving: Capacity to resolve supplier issues quickly to avoid production delays.
Cost Control: Strong focus on cost-saving opportunities and value-driven sourcing.

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