Sourcing and Vendor Development Manager

We are seeking a seasoned Sourcing and Vendor Development Manager to lead strategic sourcing initiatives and enhance our supply chain at Rapsri Engineering Products Company Ltd (REPCO). As the Sourcing and Vendor Development Manager, you will be responsible for procuring raw materials such as cathode copper, ETP copper, silver anodes, brass and bronze scrap, and consumables for foundry, machine shop, and plating. Your primary focus will be on driving vendor development for critical components like extruded brass tubes, brass and bronze sand castings, and forging to ensure quality and cost-effectiveness. The ideal candidate will excel in contract negotiations, manage import/export activities, and implement cost reduction strategies to optimize our vendor base. This role requires a proactive leader with expertise in commodity pricing, material requirements planning, and a dedication to lean manufacturing principles. Collaboration with cross-functional teams, upholding ISO 9001 standards, and contributing to REPCO's efficiency and profitability are essential aspects of this role. Your proficiency in establishing sourcing systems and rationalizing the vendor base will play a pivotal role in our sustained growth and global competitiveness. As the Sourcing and Vendor Development Manager at REPCO, you will work within the Manufacturing, Foundry, Machining (CNC and VMC), Silver Plating, and Exports industry sectors. You will be a part of the Supply Chain/Procurement department based in Bangalore. The compensation for this position ranges from 15-20 lakhs, including performance incentives. The ideal candidate should possess a Bachelor's degree in Engineering, Supply Chain Management, or a related field, along with a minimum of 10 years of experience in a similar role. Your responsibilities will include: Strategic Sourcing & Procurement: - Developing and implementing comprehensive sourcing strategies for raw materials and consumables in alignment with REPCO's production needs and quality standards. - Conducting market analysis to identify potential suppliers, evaluate commodity pricing trends, and negotiate favorable contract terms to minimize procurement costs. - Overseeing the entire procurement cycle, ensuring compliance with company policies and regulatory requirements. - Managing import/export activities to ensure timely and cost-effective delivery of materials. - Implementing and maintaining an effective Material Requirements Planning (MRP) system to optimize inventory levels. - Monitoring supplier performance, tracking key metrics, and implementing corrective actions as needed. Vendor Development & Management: - Identifying, evaluating, and onboarding new vendors for critical components, ensuring they meet quality, cost, and delivery requirements. - Conducting regular vendor audits to assess capabilities, quality standards, and compliance with ethical sourcing practices. - Developing strong relationships with key suppliers to drive continuous improvement. - Implementing vendor rationalization strategies to reduce complexity and leverage volume discounts. - Collaborating with engineering and quality teams to enhance overall supplier performance. Cost Reduction & Value Engineering: - Leading cost reduction initiatives, optimizing material usage, negotiating better pricing, and identifying alternative materials or processes. - Conducting value engineering studies and analyzing spent data to identify areas of excessive spending and inefficiency. - Implementing lean manufacturing principles to improve efficiency and reduce lead times. - Benchmarking procurement costs against industry best practices and identifying opportunities for improvement. Compliance & Reporting: - Ensuring compliance with import/export regulations, trade agreements, and ethical sourcing standards. - Maintaining accurate records of procurement transactions and contracts. - Preparing regular reports on key procurement metrics and collaborating with finance and accounting teams for budgeting and forecasting. - Overseeing the implementation and maintenance of the ERP system for procurement and inventory management. - Conducting regular internal audits to assess compliance with procurement policies and procedures. General Expectations and Past Experiences: - Proven experience in strategic sourcing, vendor development, and contract negotiation in a manufacturing environment. - In-depth knowledge of raw materials procurement and cost reduction strategies. - Strong understanding of commodity pricing analysis, material requirements planning, and lean manufacturing principles.,