Role Summary: The Senior Sourcing Specialist is responsible for developing and executing strategic sourcing strategies to support the company's procurement objectives. This role involves identifying and evaluating suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely and cost-effective acquisition of high-quality goods and services. The Senior Sourcing Specialist will also collaborate with cross-functional teams to drive process improvements and optimize supply chain efficiency. Roles and Responsibility: - Strategic Sourcing - Develop and implement comprehensive sourcing strategies for assigned categories to achieve cost savings, quality improvements, and risk mitigation. - Conduct market research and analysis to identify potential suppliers and assess their capabilities. - Supplier Management - Identify, evaluate, and select suppliers based on cost, quality, service, and capability. - Build and maintain strong relationships with key suppliers to ensure continuous improvement in performance and cost. - Conduct regular supplier performance reviews and address any issues or non-conformance. - Negotiation and Contract Management - Lead negotiations with suppliers to secure favorable terms and conditions, including pricing, delivery, and payment terms. - Draft, review, and manage contracts and agreements, ensuring compliance with company policies and legal requirements. - Cross-functional Collaboration - Work closely with internal stakeholders, including R&D, manufacturing, quality, and finance, to understand their requirements and ensure alignment with sourcing strategies. - Participate in cross-functional teams to support new product development, cost reduction initiatives, and process improvements. - Risk Management - Identify potential risks in the supply chain and develop mitigation strategies. - Monitor and address supply chain disruptions to minimize impact on operations. - Continuous Improvement - Drive continuous improvement initiatives to enhance sourcing processes and tools. - Stay updated on industry trends, best practices, and new technologies to identify opportunities for innovation and efficiency. Requirement: • Graduation- Mechanical engineer/Civil Engineer • 5-6 Years of experience in procurement, Female candidates firstly preferred • Strong analytical and problem-solving skills. • Excellent negotiation and contract management skills. • Ability to build and maintain effective relationships with suppliers and internal stakeholders. • Strong project management skills with the ability to handle multiple priorities. • Proficient in using procurement software and tools (e.g., ERP systems, e-sourcing platforms). • Strong communication and interpersonal skills. • High level of integrity and professionalism. • Experience in material handling like tools & moulds, Extruder machines , injection moulding machines is must.