Vendor Sourcing

Max Life Insurance Company Limited is looking for Vendor Sourcing to join our dynamic team and embark on a rewarding career journey

• We are looking for a detail-oriented and results-driven Vendor Sourcing Specialist to join our procurement team
• The Vendor Sourcing Specialist will play a key role in identifying, evaluating, and establishing relationships with vendors to ensure the timely and cost-effective supply of goods and services
• If you have a strong background in vendor management, negotiation skills, and a keen understanding of supply chain dynamics, we invite you to apply for this position

Responsibilities:

• Vendor Identification and Evaluation:Identify potential vendors based on product or service requirements
• Evaluate vendor capabilities, reliability, and performance
• Negotiation:Negotiate terms, pricing, and contractual agreements with vendors to secure favorable terms
• Collaborate with legal teams to ensure contract compliance and mitigate risks
• Cost Analysis:Conduct cost analysis to determine the most cost-effective solutions
• Evaluate total cost of ownership and recommend cost-saving opportunities
• Quality Assessment:Assess and monitor the quality of products or services provided by vendors
• Establish and maintain quality standards in collaboration with relevant teams
• Supplier Relationship Management:Build and maintain strong relationships with key vendors
• Address and resolve issues, and foster a collaborative working environment
• Market Research:Stay informed about market trends, industry developments, and changes in supplier landscapes
• Conduct market research to identify potential new vendors and products
• Supply Chain Optimization:Work closely with supply chain teams to optimize inventory levels and ensure timely delivery
• Collaborate on demand forecasting to align procurement activities with business needs
• Compliance:Ensure vendor compliance with regulatory requirements and company policies
• Monitor and audit vendor activities to maintain high standards of integrity
• Performance Metrics:Establish and track key performance indicators (KPIs) for vendor performance
• Regularly review vendor performance against established metrics
• Contract Management:Manage contracts, agreements, and service level agreements (SLAs) with vendors
• Renew, renegotiate, or terminate contracts as needed