Sr. Executive

15 hours ago

Mumbai, Maharashtra, India 0ea7c9d6-3cdb-48d0-b37e-689d5890b79c Full time ₹ 12,00,000 - ₹ 24,00,000 per year

The Procurement Sr. Executive (Mechanical & R&D) is responsible for managing the procurement of mechanical components and parts necessary for production. This role involves sourcing materials, negotiating prices, developing relationships with suppliers, and ensuring the timely availability of materials to meet production demands. The Procurement Sr. Executive also focuses on cost reduction, vendor development, and inventory management to optimize the supply chain's efficiency and effectiveness.

Role & responsibilities

Procurement of Mechanical Components:

  • Source and procure mechanical components and parts required for monthly production, ensuring alignment with Material Requirements Planning (MRP) schedules.
  • Coordinate with the production and planning teams to understand the demand forecast and adjust procurement strategies accordingly.

Cost Reduction and Value Engineering:

  • Identify opportunities for cost reduction through value engineering, optimizing the cost of materials without compromising on quality.
  • Implement cost-saving initiatives and monitor their impact on overall procurement costs.

Vendor Development and Supplier Management:

  • Develop and maintain strong relationships with existing vendors while identifying and evaluating potential new suppliers.
  • Assess suppliers based on quality, reliability, and cost-effectiveness, ensuring a robust and diversified supply base.

Price Negotiation:

  • Negotiate prices with suppliers to secure the best possible terms while maintaining quality standards.
  • Review and renegotiate contracts periodically to ensure competitive pricing and favourable terms.

Inventory Management:

  • Monitor inventory levels and collaborate with the inventory management team to ensure optimal stock levels.
  • Follow stringent contracts to avoid overstocking or stockouts, thereby reducing holding costs and improving cash flow.
  • Manage the creation of part codes in the system ensuring accurate tracking and inventory management.

Savings and Cost Management:

  • Track and report on annual savings achieved through procurement strategies and cost reduction initiatives.
  • Maintain records of material cost savings and provide regular updates to senior management.

Preferred candidate profile:

B.Tech / B.E(Mechanical) with 3+ years' experience in procurement lifecycle management.

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