Summary
Overview
Work History
Education
Skills
Accomplishments
Software
Language Known
EXTRA CURRICULAR ACTIVITIES & ACHIEVEMENTS :
Disclaimer
Timeline
Generic
Ritik Bhatnagar

Ritik Bhatnagar

Summary

  • Experienced Global Sourcing professional with a proven track record in SCM, Strategic Sourcing, and project-based procurement.
  • Seeking Sr. Manager-level roles in global sourcing and category management with a reputable organization. Over a decade of expertise in driving cost savings, optimizing supplier relationships, and implementing strategic sourcing initiatives to enhance operational efficiency. Passionate about leveraging skills to contribute to the success of a dynamic and forward-thinking company.

Overview

9
9
years of professional experience

Work History

Global Sourcing Lead

Carrier Airconditioning & Refrigeration
11.2023 - Current
  • Managing Global Spend Portfolio of $910M, 500+ supplier & 42 sites.
  • Led end to end cost saving initiatives, identifying opportunities and driving implementation across RM categories ,achieving savings of 4.5% or 40Mn.
  • Defining category road map 5-3-1 year plan.
  • Driving sourcing best practices methods such as 7 steps of sourcing , PESTLE analysis, SWOT analysis, data driven negotiation plans,SRM.
  • Leading productivity targets via spend analytics , LPP,Cluster analysis,Cost vs Index,Price Arbitrage,Should costing,Make vs Buy.
  • Driving End to End Source to Contract based on defined category strategy/roadmap.
  • Identifying Supply Risk & preparing details mitigation plan.
  • Driving Tail Spend Strategy of $140M for Steel fab.

Selected Highlights & Achievements :

  • Achieved productivity of $7M by conducting detailed spend analysis and market intelligence assessments.
  • Developed and executed category management and sourcing strategy by moving HCC parts to BCC resulted in $1M saving.
  • Tail Spend Management delivered $0.7M of $15M spend

Sr. Engineer – Strategic Sourcing - COE

Regal Rexnord Corporation
03.2021 - 11.2023
  • Managed Supplier Selection & Development across categories: Forging($6M), SS Coils ($2M), Casting ($2M), Machining ($2M), Stampings ($1M) for Global (95%) & Local (5%) Units.
  • Delivered $4M + cost savings via strategic negotiation,supplier consolidation & Localization.
  • Supported APQP, Global category managers for NPD & Localization

Selected Highlights & Achievements:

  • Developed 9 Suppliers in CY'21 across 6 categories as an strategic initiative for Dual sourcing.
  • Supplied SS201 grade RM – 500 MT coils to US & Mexico plant on time and ensure zero-line stoppage due to RM shortage (SS coils shortage in USA due to ATI mill shutdown).
  • Increased India Spend from $3M CY'20 to $5M CY'21 by identification of new projects from Global units, targeting to absorb $100K Saving.
  • Developed 2 Turning centers as an alternate source to China for USA units and targeting savings $200K also avoid single source dependency as risk mitigation.

Sr. Engineer – Group Procurement & SCM

Kalpataru Power Transmission Limited
11.2018 - 03.2020
  • Drive Strategic sourcing initiatives to procure 8000 MT/ Month steel(coil/plates), ensuring on-time delivery at optimum cost for quality product.
  • Supporting category management leads on large projects, with negotiation assistance, data analysis.
  • Keeping continuous watch on commodity market prices, Cost Analysis, Market intelligence for Price Monitoring to source strategically.
  • Coordination with Shipping lines/Airlines, CHA, freight forwarder, transporters, and allied business associates.


Selected Highlights & Achievements:

  • Inventory Reduction by 500 MT annually with attracted saving of 1Mn.
  • Drive grade standardization activity to leverage volume at the time of negotiation achieve 2-5% more reduction in cost from Top steel makers.
  • Most critical Sweden project with special grade completed on time & Customer has appreciated and awarded new project.

Purchase Executive

Neel Metals Product Ltd. (JBM Group)
11.2016 - 10.2018
  • Managing a total CAPEX of 20 Cr (Annual) for 2 Plants and Consumables Where delivering requirement as per SAP Requisition. Managing procurement of Capex, Opex for (NPC Machinery, Equipment's &Spares, Cutting tools, Abrasives, Pneumatic & Electric Tools), Tooling, IT hardware and software, Electrical, Facility, Utility, & Civil procurement for all infrastructure projects.
  • Establishing competitive price levels (backed by price comparison) Implementation of professional purchase methodologies
  • Ensure effective lines of communication to ensure timely delivery of materials/

Selected Highlights & Achievements:

  • Implement Min-Max inventory system to optimize working capital.
  • Received appreciation certificate from CMD within 1.5 yrs of working in sourcing.
  • Negotiated machining part rates,achieving significant cost savings.

Education

PGDM - Operations Management

NIRMA University
08-2018

B.Tech - Mechanical Engineering

RTU KOTA
01.2014

Skills

  • Strategic Sourcing & Category Management
  • Spend Analysis & Cost optimization
  • Procurement transformation & Process improvement
  • Contract Analysis & Negotiation

  • Project management & Delivery
  • Stakeholder Management
  • P2P Process Optimization
  • Advanced Excel & Power BI

Accomplishments

  • Best Team Award 2024.

Software

Autocad

Catia

Pro-E

Language Known

ENGLISH
Advanced (C1)
HINDI
Bilingual or Proficient (C2)
Gujarati
Elementary (A2)

EXTRA CURRICULAR ACTIVITIES & ACHIEVEMENTS :

  • Bronze medal in national table tennis championship.
  • Gold medal in state table tennis championship. 3rd position in robotics in neutron (MNIT) all India tech Fest.
  • Management Development program in SCM from Symbiosis.
  • Manager Development Program – Level 1 Certification completed with Outstanding grade.

Disclaimer

I declare that the above given information is correct to the best of my knowledge, and I am solely and fully responsible for any incorrect detail or inconsistency. Date: Place: Hyderabad

Timeline

Global Sourcing Lead

Carrier Airconditioning & Refrigeration
11.2023 - Current

Sr. Engineer – Strategic Sourcing - COE

Regal Rexnord Corporation
03.2021 - 11.2023

Sr. Engineer – Group Procurement & SCM

Kalpataru Power Transmission Limited
11.2018 - 03.2020

Purchase Executive

Neel Metals Product Ltd. (JBM Group)
11.2016 - 10.2018

B.Tech - Mechanical Engineering

RTU KOTA

PGDM - Operations Management

NIRMA University
Ritik Bhatnagar