Fresh Sourcing Officer

L T Finance LTD is looking for Fresh Sourcing Officer at our location Madurai to join our dynamic team and embark on a rewarding career journey.Supplier Identification and Relationship Management: Identify potential suppliers, evaluate their capabilities, and establish relationships with reliable vendors. Negotiate contracts, terms, pricing, and service agreements with suppliers to achieve favorable terms and conditions. Sourcing Strategies and Procurement Planning: Develop and implement sourcing strategies aligned with organizational goals, considering factors such as cost, quality, and delivery timelines. Plan and execute procurement activities based on demand forecasts, inventory needs, and budget constraints. Request for Proposals (RFPs) and Bidding Process: Prepare RFPs, RFQs (Request for Quotes), or tender documents to solicit bids from potential suppliers. Evaluate supplier proposals, conduct bid analysis, and recommend supplier selection based on predefined criteria. Cost Management and Negotiation: Analyze pricing, market trends, and supplier performance to negotiate favorable pricing, terms, and conditions. Optimize costs while ensuring the quality and timely delivery of goods or services. Supplier Performance and Compliance: Monitor supplier performance, conduct vendor assessments, and address any performance issues or non-compliance with agreements. Ensure adherence to procurement policies, regulatory requirements, and ethical standards. Continuous Improvement and Innovation: Identify opportunities for process improvements, cost savings, and innovation in the sourcing and procurement process. Implement best practices and leverage new technologies to enhance sourcing efficiency. Skills and Qualifications: Strong background in procurement, strategic sourcing, or supply chain management. Negotiation skills and the ability to build and maintain relationships with suppliers. Analytical mindset to evaluate supplier performance and pricing data. Proficiency in procurement software and tools for vendor management and analysis. Effective communication and interpersonal skills for collaborating with internal stakeholders and external suppliers. Knowledge of procurement regulations, ethical standards, and industry best practices.