Procurement Specialist - Mumbai, India - Flo Mattress

Description

Procurement Management:

• Develop and execute procurement strategies to ensure timely and cost-effective sourcing of materials, components, and services.
• Identify and evaluate potential suppliers, negotiate contracts, and manage supplier relationships to maintain high-quality standards and reliability.
• Monitor market trends, supplier performance, and industry developments to identify opportunities for cost savings and process improvements.

New Product Development (NPD):

• Lead cross-functional teams in the development and implementation of new products from concept to commercialization.
• Collaborate with R&D, engineering, manufacturing, and quality teams to ensure alignment of NPD activities with project timelines and objectives.
• Manage project schedules, budgets, and resources to meet key milestones and deliverables.
• Conduct risk assessments and implement mitigation strategies to address potential challenges during the NPD process.

Supplier Quality and Compliance:

• Establish quality standards and specifications for materials and components, and ensure compliance with regulatory requirements and industry standards.
• Conduct supplier audits and assessments to evaluate quality systems, processes, and performance.
• Drive continuous improvement initiatives to enhance supplier quality, reliability, and delivery performance

Cost Analysis and Optimization:

• Analyze cost structures, identify cost drivers, and implement cost reduction initiatives across the supply chain.
• Develop and maintain cost models, conduct spend analysis, and track cost savings initiatives to achieve budget targets and maximize profitability.
• Work closely with finance and accounting teams to ensure accurate cost forecasting and budget management.