Resourceful Senior Procurement Manager with 17 + years of experience adept at enhancing productivity and efficiency through well-coordinated task completion. Skilled in strategic sourcing, vendor management, and contract negotiation to optimize supply chain operations. Possess strong analytical skills, problem-solving abilities, and communication expertise to excel in collaborative environments and achieve cost-effective procurement solutions.
Strategic Sourcing and Supplier Management : Research, identify, and assess potential suppliers of APIs globally, ensuring they meet quality standards, regulatory requirements, and business needs. Lead negotiations with API suppliers to secure favourable terms, including pricing, lead times, delivery schedules, and quality assurance. Build long-term, strategic relationships with key API suppliers, ensuring collaboration, innovation, and reliable supply chains. Monitor and evaluate supplier performance based on quality, delivery, and compliance metrics, working with suppliers to resolve issues and drive continuous improvement.
Procurement Planning and Strategy: Design and implement a comprehensive procurement strategy for APIs, considering factors such as cost control, regulatory compliance, market dynamics, and risk mitigation. Collaborate with R&D, production, and supply chain teams to accurately forecast API demand based on production schedules, product launches, and market trends. Ensure appropriate inventory levels to meet production requirements while minimizing excess stock and ensuring product availability.
Regulatory Compliance and Quality Assurance : Ensure all API procurement activities comply with industry standards and regulations, such as Good Manufacturing Practices (GMP), FDA, EMA, and other regional regulatory requirements. Oversee or participate in audits of API suppliers’ facilities to assess compliance with quality standards, GMP guidelines, and other regulatory requirements. Collaborate with the Quality Assurance (QA) team to verify that the APIs procured meet required specifications, quality standards, and testing protocols before use in manufacturing.
Contract Negotiation and Management : Lead negotiations with API suppliers on pricing, delivery terms, and contract conditions, ensuring alignment with the company’s strategic goals. Oversee the lifecycle of procurement contracts, ensuring that they are accurately drafted, signed, and adhered to, and that renewals and amendments are handled efficiently. Identify risks in supplier agreements, including pricing volatility, supply interruptions, or regulatory changes, and implement mitigation strategies.
Cost Optimization and Budget Management : Managing the procurement budget for APIs, ensuring that expenditures remain within approved limits while optimizing cost-efficiency. Work proactively to identify cost-saving opportunities, such as alternative sourcing strategies, bulk purchasing, or negotiation of better terms.
Keeping abreast of market trends and fluctuations in raw material costs, and adjust procurement strategies accordingly to ensure competitive pricing.
Supply Chain Coordination and Logistics Management : Collaborating closely with the supply chain, logistics, and operations teams to ensure timely procurement and delivery of APIs, avoiding production delays. Developing and implement contingency plans for supply chain disruptions (e.g., geopolitical issues, natural disasters, supplier bankruptcies), ensuring continuous API supply. Monitoring inventory levels and stock rotation to avoid shortages or expirations, ensuring APIs are available when needed and preventing overstocking.
Market Intelligence and Vendor Research : Conducting in-depth research on the global API market to identify emerging trends, new suppliers, regulatory changes, and competitive intelligence that may impact procurement decisions. Stay up to date on advancements in API manufacturing and quality assurance technologies, evaluating potential new suppliers or APIs to meet the evolving needs of the business.
Cross-Functional Collaboration and Leadership : Collaborate with internal stakeholders, including R&D, production, regulatory affairs, and finance teams, to align procurement activities with company goals.
Lead and mentor a team of procurement professionals, fostering a collaborative and high-performance culture, and ensuring that team members are well-trained on regulatory and industry requirements.
Continuous Improvement and Process Optimization : Continuously improve procurement processes and workflows to increase efficiency, reduce lead times, and ensure compliance. Promote and implement best practices in procurement, including leveraging digital tools, procurement software, and data analytics to improve decision-making and streamline operations.
Reporting and Performance Metrics : Provide regular updates and reports on procurement performance, supplier performance, budget status, and risk mitigation strategies to senior management. Develop and track KPIs related to supplier performance, procurement cost savings, compliance, and inventory management.
CAPEX Planning & Budgeting:Leading the annual capital expenditure planning process in collaboration with senior management and relevant departments. Developing and managing the Capex budget, ensuring alignment with the company’s financial goals and strategic initiatives.
Project Evaluation & Approval:Reviewing and assessing capital investment proposals, including financial analysis, risk assessments, and feasibility studies. Facilitating the approval process by providing detailed analysis and justifications to senior leadership or the investment committee.
Monitoring & Reporting: Tracking the status of ongoing capital projects, ensuring they stay within budget and schedule. Providing regular reports to senior management on the status of Capex projects, including variances and potential risks.
Stakeholder Communication & Coordination:Working closely with departments such as Finance, Operations, and Projects to ensure the smooth execution of capital projects. Communicating Capex strategies and progress to key stakeholders, ensuring alignment and transparency. Addressing any issues or concerns raised by stakeholders related to Capex investments.
Capital Asset Management: Ensuring proper tracking and management of capital assets. Overseeing the life cycle of capital assets from acquisition to disposal, ensuring efficient use of resources.
Risk Management: Identifying and mitigating financial, operational, and regulatory risks associated with capital investments. Implementing effective controls and procedures to safeguard against waste, fraud, and mismanagement in capital projects.
Continuous Improvement: Identifying opportunities for the process improvements within the capital expenditure management process. Staying updated on industry trends, best practices, and regulatory changes related to Capex management.
I hereby declare that the above mentioned particulars are true to the best of my knowledge and belief.