Vivek Sethi
Gurugram
Summary
Dynamic procurement professional with a proven track record at XL India Business Services Limited, specializing in sourcing negotiation and vendor risk frameworks. Achieved significant cost savings through strategic initiatives and enhanced operational efficiency by streamlining processes. Adept at stakeholder collaboration and market analysis, driving value delivery across procurement functions.
Overview
10
10
years of professional experience
Work History
Global Sourcing & Procurement: Assistant Manager
XL India Business Services Limited (AXAXL)
12.2022 - Current
- Achieved US$500k savings via strategic cost reduction initiative.
- Employed advanced negotiation techniques such as volume discounts, price benchmarking and alternative pricing models to optimize cost.
- Led comprehensive contract negotiations and management by collaborating with essential internal departments (Business, Tax, Legal, Information Security, and Data Privacy).
- Optimized procurement processes to enhance overall business efficiency.
- Executed comprehensive audits to mitigate risks and maintain compliance with vendor management protocols.
- Enhanced value delivery by applying continuous improvement techniques to multiple procurement areas.
Team Leader Sourcing CoE
BA Continuum India Private Limited (Bank of America)
03.2018 - 12.2022
- Facilitated effective partnerships across departments to manage contracts and uphold compliance standards.
- Established robust systems for vendor classification and risk management, enhancing efficiency.
- Fostered robust stakeholder relationships to align procurement strategies with business goals.
- Mitigated potential risks by executing comprehensive agreement audits.
- Implemented continuous improvement strategies across multiple procurement categories, resulting in enhanced operational performance and value delivery.
Analyst - Procurement
BlackRock India Services Pvt. Ltd.
08.2017 - 03.2018
- Facilitated the creation and processing of over 500 purchase orders within Oracle R12, ensuring timely delivery and strict adherence to vendor compliance standards, which enhanced procurement efficiency.
- Managed contract renewals, change orders, and amendments to strengthen procurement processes and optimize supplier performance, contributing to overall cost management.
- Collaborated with cross-functional teams to streamline Purchase-to-Pay workflows, achieving a 30% reduction in manual tasks, thereby increasing operational efficiency and resource allocation.
- Resolved 95% of inquiries related to invoices and payments in partnership with the Accounts Payable team, significantly minimizing processing delays and enhancing supplier satisfaction.
Procurement Process Associate
Genpact India Pvt. Ltd.
01.2016 - 08.2017
- Managed the processing and approval of over 1,000 purchase orders and requisitions using SAP and SRM, achieving a 25% reduction in procurement cycle times, which enhanced overall operational efficiency.
- Refined Purchase-to-Pay workflows within SAP and SRM, significantly optimizing procurement processes and driving enhancements in efficiency and compliance.
- Resolved 98% of helpdesk inquiries within defined SLA timelines, ensuring seamless operations and uninterrupted service delivery across procurement functions.
- Oversaw procurement orders to guarantee compliance with organizational procedures, ensuring timely delivery of goods and services and fostering strong supplier relationships.
- Collaborated with cross-functional teams to streamline procurement operations, facilitating efficient delivery of goods and services that support organizational objectives and enhance stakeholder satisfaction.
Education
Bachelor’s - Commerce
Chhatrapati Shahu Ji Maharaj University (CSJMU)
01.2015
Skills
- Sourcing negotiation expertise
- Market analysis
- GDPR compliance awareness
- Category management
- Stakeholder and cross-functional collaboration
- Evaluating and reporting results to senior management
- Cost-saving strategies development and execution
- Vendor risk frameworks
Accomplishments
- Cost savings initiative leader: Led a cost initiative that saved the organization UD$100k annually through strategic negotiations and sourcing optimizations
- Business process improvement advocate: Promoted a process improvement initiative that ensured timely submission of agreement renewals to business owners, enabling informed decisions regarding necessary renewals
Affiliations
- People management
- Problem solving
- Ability to prioritize
- Team Player
Timeline
Global Sourcing & Procurement: Assistant Manager
XL India Business Services Limited (AXAXL)
12.2022 - Current
Team Leader Sourcing CoE
BA Continuum India Private Limited (Bank of America)
03.2018 - 12.2022
Analyst - Procurement
BlackRock India Services Pvt. Ltd.
08.2017 - 03.2018
Procurement Process Associate
Genpact India Pvt. Ltd.
01.2016 - 08.2017
Bachelor’s - Commerce
Chhatrapati Shahu Ji Maharaj University (CSJMU)
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