Senior Manager - Vendor Development And Contracting Job

Key responsibilities:

A. Vendor Development:
1. Identify and evaluate potential vendors for raw materials, packaging, and services required for personal care products
2. Conduct thorough assessments and audits of potential suppliers to ensure compliance with the quality, ethical, and sustainability standards of ITC
3. Develop and maintain strong relationships with key suppliers to promote continuous improvement and innovation

B. Strategic Sourcing:
1. Lead the sourcing strategy for personal care product components ensuring alignment with business goals
2. Analyze market trends, supply chain risks, and opportunities to formulate strategies for cost reduction, quality improvement, and supply chain reliability
3. Collaborate with cross-functional teams (R&D, Quality, Production, and Marketing) to understand and fulfill material and service requirements

C. Contract Management:
1. Negotiate and draft contracts with suppliers to secure favorable terms, conditions, and pricing
2. Ensure contracts include key performance indicators (KPIs) and service level agreements (SLAs) to measure supplier performance
3. Monitor contract compliance and manage renewals, amendments, and terminations as necessary

D. Supplier Performance Management:
1. Implement supplier performance management processes including regular reviews, performance metrics tracking, and corrective action plans
2. Address and resolve supplier performance issues promptly to minimize the impact on production and product quality
3. Foster a culture of continuous improvement with suppliers through feedback, training, and collaborative problem-solving

E. Risk Management:
1. Identify and mitigate risks in the supply chain including potential disruptions, quality issues, and compliance concerns
2. Develop and maintain contingency plans to ensure business continuity in case of supplier failures or emergencies
3. Ensure compliance with all relevant regulations, standards, and corporate policies

F. Cost Management:
1. Drive cost-saving initiatives through effective negotiation, value analysis, and alternative sourcing strategies
2. Monitor and report on cost trends, savings achieved, and opportunities for further cost reduction

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Information above is Internshala's interpretation and paraphrasing of what we found on the shared link.