Procurement Specialist

4 days ago

Navi Mumbai, Maharashtra, India PlugNPlay Biosciences Pvt Ltd Full time ₹ 9,00,000 - ₹ 12,00,000 per year

Key Responsibilities
Strategic Sourcing: Developing and implementing strategies to source raw materials (like active ingredients, pigments, and fragrances), packaging materials (bottles, jars, tubes), and finished goods from reliable suppliers. This includes finding new suppliers and evaluating their capabilities.

Supplier Management: Building and maintaining strong relationships with a global network of suppliers. This involves negotiating contracts, managing performance, and conducting audits to ensure quality, ethical standards, and regulatory compliance.

Cost Management: Negotiating pricing and terms to secure cost-effective deals without compromising on quality. The role often involves identifying cost-saving opportunities and managing budgets.

Regulatory Compliance: Ensuring that all procured materials and processes adhere to strict industry regulations, such as Good Manufacturing Practices (GMP), FDA, and ISO standards. This is a critical aspect, given the high level of scrutiny in the cosmetics industry.

Collaboration: Working closely with cross-functional teams, including R&D (Research and Development), product development, marketing, quality assurance, and production. This collaboration is essential to ensure that materials are procured for new product launches on time and to the required specifications.

Inventory and Supply Chain Management: Coordinating with supply chain and logistics teams to manage inventory levels, forecast procurement needs, and ensure a smooth flow of materials to prevent shortages or overstocking.

Market Analysis: Staying informed about market trends, new ingredients, and innovations in the beauty industry to inform purchasing decisions and maintain a competitive edge.

Documentation and Reporting: Maintaining accurate records of all procurement activities, including purchase orders, agreements, and reports on key performance indicators (KPIs).

Required Skills and Qualifications
Education: A Bachelor's or Master's degree in Supply Chain Management, Business Administration, or a related field is typically required.

Experience: Experience in procurement, purchasing, or supply chain management are essential, with a strong preference for experience within the cosmetics, skincare, personal care, or pharmaceutical industries.

Technical Knowledge: A deep understanding of the raw materials, active ingredients, and packaging used in cosmetics manufacturing is highly valued. .

Core Competencies:
Negotiation: Excellent negotiation and contract management skills are crucial.

Analytical Thinking: The ability to analyze data, identify cost-saving opportunities, and solve problems is key.

Communication: Strong interpersonal and communication skills are needed to collaborate effectively with internal and external stakeholders.

Vendor Management: Expertise in developing and managing vendor relationships.

Attention to Detail: Meticulous attention to detail is necessary for ensuring regulatory compliance and quality standards.

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