Job Description for New Vendor Development

To continuously develop new and alternate vendors and provide the Purchase team with reliable, competitive, and qualified sources for the company's procurement requirements.

Candidates with experience in manufacturing/engineering/industrial procurement will be preferred.

1. Identify and develop new and alternate vendors for raw materials, consumables, machinery, components, and services.

2. Conduct market research to identify reliable manufacturers, suppliers, distributors, and service providers.

3. Evaluate vendors based on quality, pricing, capacity, infrastructure, certifications, delivery capability, and responsiveness.

4. Coordinate vendor registration, qualification, onboarding, and approval processes with relevant departments.

5. Float RFQs, obtain quotations, and prepare commercial comparison statements for new sourcing opportunities.

6. Negotiate pricing, MOQ, payment terms, lead time, and other commercial conditions with vendors.

7. Coordinate samples, trial quantities, prototypes, and initial supplies with newly developed vendors.

8.



Work closely with Quality, Production, Engineering, Stores, Finance, and Purchase teams for vendor evaluation and approval.

9. Develop alternate/local sources to reduce supplier dependency and ensure continuity of critical materials.

10. Identify cost-reduction opportunities through recent vendor development, alternate sourcing, and market benchmarking.

11. Monitor supplier market trends, material availability, pricing, and emerging vendor capabilities.

12. Conduct vendor visits and supplier assessments whenever required.

13. Maintain vendor databases, quotations, evaluations, samples, approvals, and development records.

14. Support the Purchase team in resolving supplier-related quality, delivery, commercial, and supply issues, including new vendor approvals, cost savings, alternate sources, and successful trial-to-regular-supply conversion.

Pay: ₹25,000.00 - ₹37,000.00 per month

Benefits:

- Provident Fund

Work Location: In person

📌 Procurement Specialist (India)
🏢 Nestor Converters
📍 India