Procurement Head - Home Furnishing Industry (15-22 yrs)

Position: Procurement Head

Location: Bangalore - HO

About Employer: One of the leading sleep solutions company

Role Summary:

The Procurement Head will lead the company's procurement strategy, driving cost efficiency, sustainability, and operational excellence across diverse business models, including B2B, B2C, E-Commerce, and D2C. The role involves strategic sourcing, commodity management, chemical procurement, supplier management, and leveraging digital tools to optimize procurement processes while maintaining compliance and fostering strong supplier relationships.

Key Responsibilities:

1. Strategic Procurement:

- Oversee procurement for bedding, furniture, and accessories manufacturing, ensuring timely sourcing to meet production demands.

- Develop and execute comprehensive sourcing strategies to select reliable suppliers, negotiate favorable terms, and drive cost efficiency while maintaining quality standards.

- Lead commodity strategic sourcing initiatives, drive chemical procurement strategies for essential raw materials identifying and managing key suppliers for critical materials to drive cost optimization, ensure supply continuity, and enhance supplier relationships.

- Implement Demand Driven Material Requirements Planning (DDMRP) to achieve precise material ordering, mitigating demand volatility effectively.

- Drive compliance with regulatory requirements and internal policies by conducting regular supplier audits and assessments.

- Digitize procurement processes using technology solutions to enhance visibility, automate tasks, and enable data-driven decision-making.

2. Operational Excellence:

- Lead initiatives to improve working capital through strategic inventory management and payment term negotiations.

- Champion Purchase productivity actions and value engineering to optimize costs and sustainability.

- Monitor and analyze key procurement metrics, including pending orders, inventory aging, On-Time-In-Full (OTIF) performance, and price trends using Power BI tools.

3. Sustainability and Innovation:

- Develop and implement sustainability initiatives across the supply chain, including sourcing recycled fabrics, repurposing foam and wood waste, and introducing Bio chemicals to achieve 50% sustainability in sourcing.

- Enhance the company's environmental reputation by adopting green procurement practices and fostering a sustainable product portfolio.

4. Team Leadership:

- Foster a culture of teamwork and collaboration within the procurement team and supplier network.

- Provide professional development opportunities to enhance skills, ensuring high-performance standards and alignment with organizational goals.

Key Deliverables:

- Achieve continuous cost savings, targeting a 5% reduction in procurement costs Year on Year through strategic negotiations and supplier consolidation.

- Drive operational efficiency with 20% improvement in procurement processes and 30% reduction in cycle times through digital transformation.

- Attain 95% on-time delivery performance, exceeding industry benchmarks and ensuring seamless production schedules.

- Contribute to the company's growth trajectory from - 1200 Cr to Next levels through strategic procurement leadership.

- Implement cash flow improvement measures, enhancing supplier payment terms and inventory management strategies.

Skills and Qualifications:

- Education: M.Tech in Manufacturing Management or BE equivalent.

- Experience: 15+ years in procurement, vendor development, and strategic sourcing, with expertise in managing Direct and Indirect materials

Core Skills:

- Strategic Sourcing and Cost Management

- Commodity Management and Chemical Procurement

- Supplier Quality and Performance Optimization

- Inventory Management and DDMRP

- Sustainability Initiatives

- Digital Procurement and Process Automation

- Cross-Functional Collaboration in B2B, B2C, E-Commerce, and D2C models

- Soft Skills: Analytical mindset, strong interpersonal skills, and proven ability to drive process improvement and team development.