- Responsible for generating & maintaining a pipeline of ideas for cost optimization, regular spend analysis & cost analysis to prioritize focus areas for cost opportunities
- Identify alternate vendors & sourcing options for the different product categories
- Regular internal and external product benchmarking as well as review of industry and market trends
- Continuous review of vendor cost sheets and computation of should-be costing basis BOM
- Ensure cross-functional coordination and standardization of processes and costs across divisions
- Maintain a cost savings tracker & responsible for validating the actual accruals against accrual plan
- Drive updation of monthly MIS by leveraging commodity & PL team
- Closely work with the PL teams to create implementation plan for the identified initiatives
- Continuously monitor the implementation status and upfront identify any deviations, including root cause analysis and formulation of catch-up plans along with the PL team
- Support in vendor negotiation and personally engage with vendors to support in implementation of value engineering initiatives, on-boarding for e-procurement etc.
- Regular review of the supplier base to define the supplier strategy and drive supplier rationalization as required
- Lead supplier performance reviews & foster improvement of supplier performance