Strategic Sourcing Manager

Role & responsibilities

1. Contract Negotiation and Finalization:

• Lead end-to-end negotiations with vendors to secure favorable terms, including pricing, payment terms, delivery schedules, and penalties for non-compliance.
• Ensure contracts are aligned with organizational policies and legal regulations

2.Cost Benchmarking and Analysis:

• Perform detailed cost breakdown analysis of proprietary parts, identifying material costs, labor, overheads, and profit margins.
• Benchmark costs against industry standards to establish fair pricing.

3.Pricing and Value Engineering:

• Collaborate with engineering and production teams to identify opportunities for value engineering, focusing on reducing costs without compromising quality.
• Facilitate discussions on cost variances due to changes in raw material prices, exchange rates, or supplier capabilities.

4.Settlement Disputes and Resolution:

• Address and resolve disputes with vendors related to price discrepancies, delivery issues, or contractual obligations.
• Develop and maintain clear communication channels to mitigate potential conflicts.

5.Annual Rate Contracts and Price Revisions:

• Establish annual rate contracts for recurring procurement needs, ensuring price stability and predictability.
• Negotiate price adjustments in response to market fluctuations or significant order changes.

6.Cost Optimization Strategies:

• Implement cost-saving initiatives, including volume discounts, alternate sourcing, and logistics optimization.
• Identify opportunities for long-term cost reductions through supplier consolidation or strategic partnerships.

7.Supplier Collaboration for Financial Efficiency:

• Engage suppliers in joint cost-reduction programs, such as kaizen or lean initiatives.
• Leverage long-term relationships to achieve deferred payment terms or bulk order discounts.

8.Vendor Development and Management:

• Identify and onboard new suppliers, focusing on proprietary part manufacturers.
• Evaluate supplier performance through regular audits to ensure quality, reliability, and compliance.
• Build and maintain strong relationships with key suppliers to secure long-term partnerships.

Required Skills and Qualifications:

• Educational Background:
• B. Tech/B.E
• Experience:
• 710 years of experience in strategic sourcing, vendor development, or procurement, specifically in the tractor or heavy machinery industry.