Team Member

**Division**:

- Finance**Department**:

- Operations Finance**Sub Department 1**:

- SCM Finance**Job Purpose**:
Partnering with supply chain function in Global Direct Procurement by a) defining & monitoring targets including cost benchmarking, b) Identifying areas & driving actions to achieve procurement financial goals, c) Track Alternative cost improvement initiatives like Alternate Vendor Development (AVD), CMO, CIP & CDMO & d) establishing adequate control and governance mechanisms to improve bottom-line & compliances

**Key Accountabilities (1/6)**:
**Prepare Annual operating plans, Budgets for Direct Procurement (Globally), before set date across all Categories, reduce cost as per industry benchmarks to improve margins**
- Prepare and recommend Budgets before set date for direct material procurement across Categories
- Work with procurement team for forecasting rates based on past trends, expected volume in future, Current market scenario, Macro and Micro economic analysis, Demand-Supply scenarios
- Discuss and present findings to FP&A, costing team members, other cross functional team members
- Suggest views on various assumptions and obtain approvals from the SCM Head & Global CFO

**Key Accountabilities (2/6)**:
**Submit Variance, Year on Year cost reduction, Benchmarking, MTM analysis, actual savings against targets on monthly basis, to facilitate accomplishment of budgets**
- Prepare monthly MIS reports for Procurement, Variance Analysis, action plans to achieve savings targets
- Ensure structured, relevant, and validated data input for monthly presentations and reviews
- Prepare year on year savings report, Bench marking and MTM analysis
- Prepare detailed analysis of Spend, circulate MIS to stakeholders, & issue resolutions for MIS

**Key Accountabilities (3/6)**:
**Evaluate and resolve various operational issues of procurement team related to finance (Cross - functional and with external vendors) and provide support, to facilitate smooth operations**
- Prepare and communicate cost control reports. Co-ordinate with operations team for better visibility of cost & control over process
- For commodity-based product, monitor price trends, recommend Hedging / positions at bottom prices / Strategic positions to procurement head
- Co-ordinate and resolve cross functional issues involving finance
- Support business and finance team members for compliances to statutory and regulatory requirements
- Provide support for implementation of procurement policies

**Key Accountabilities (4/6)**:
**Identify process gaps & drive automation projects for SCM in the areas of procurement, and MIS generation to improve efficiency & controls**
- Evaluate current information system, suggest actions on various issues and recommend appropriate improvements to optimize productivity and IT enablement
- Develop reports for strong internal financial controls, continuous process improvement and objective analysis
- Suggest changes for standardization of business processes related to Global procurement
- Interact with IT, SAP and cross functional team members for implementation of IT initiatives

**Key Accountabilities (5/6)**:
**Assess Internal Financial Control (IFC) & Audit recommendation for procurement to achieve compliances**
- Collect data, monitor performance of various business processes.
- Compile and submit reports to various stakeholders
- Conduct Internal financial control related activities for Global Direct procurement
- Resolve issues / queries raised in Internal and External Audits
- Enforce data discipline for compliance to applicable regulations
- Prepare and review checklist to ensure that Systems are properly implemented

**Key Accountabilities (6/6)**:
**Business Partner AVD, CIP, API CMO & CDMO Vertical along with IL4 Saving evaluation**
- Evaluation of Proposal undertaken in any of these Function
- Tracking of committed savings and facilitating course correction

**IL6 Saving Monitoring and Maximisation**
- To ensure the committed cost saving is converted to P&L.
- IL6 communication to BUs

**Major Challenges**:

- Continuous coordination and communication with 200 functional team members

**Overcome by** - Creating sub-teams and regular meetings with the team members
- Multiple stakeholders and varied expectations (timelines, delivery, data, objectives) results in various Conflicts during execution of project

**Overcome by** 'œ Facilitate focus on overall Organisational goals, process simplification, IT enablement and improvements to meet deadlines. End to end SAP usage for data accuracy and hygiene.
- Delay in data compilation, slowdown in business processes in view of lack of integrated approach for Issue resolution and solution development **Overcome by** 'œ System oriented approach, Automation

**Key Interactions (1/2)**:

- Global Procurement Team on Daily basis for Data, issues, control, discussions
- Finance, Costing, FP&A, Domestic business, Accounts on Monthly / fortnightly basis for Data