Specialist - Solvents Sourcing

Specialist - Solvents Sourcing

Company Description

Dr.Reddy's Laboratories was established in 1984, we are a global pharmaceutical company headquartered in Hyderabad, India. Driven by our purpose of ‘Good Health Can’t Wait’, we work to provide access to affordable and innovative medicines. We offer a portfolio of products and services including APIs, generics, branded generics, biosimilars and OTC. Our major markets include USA, India, Russia & CIS countries, China, Brazil and Europe. As a company with a history of deep science that has led to several industry firsts, we continue to plan ahead and invest in future growth drivers such as access to novel molecules, digital therapeutics and consumer healthcare. As an early adopter of sustainability and ESG actions, we released our first Sustainability Report in 2004. Our current ESG goals aim to set the bar high in environmental stewardship; access and affordability for patients; diversity; and governance.

Job Description

We are looking for an experienced Strategic Sourcing Specialist (Solvents- Sourcing) for leveraging market insights, Indexing, and implementing effective negotiation strategies. The role involves continuous monitoring and negotiation with suppliers, entering into short/medium term contracts, optimizing purchase order management, and contributing to cost optimization, supplier relationship management, and strategic sourcing initiatives for API Business.

Roles & Responsibilities

• You will be responsible for sourcing and procurement of Solvents for manufacturing APIs. You will have to work closely with Central Planning, Plant planning, Manufacturing, Warehouse  in sourcing and procurement of Solvents at right first time, with right cost and quality.

• You will be responsible for utilizing commodity index to gain market insights, predict future prices based on micro/macro trends, and monitor price trends for input materials.
• You will be responsible for preparing and creating effective negotiation strategies with suppliers to ensure cost efficiency.
• You will be responsible for leading continuous monitoring and negotiation with partners to secure the market lowest prices for maximum SKUs, maintaining Price Information Records (PIR) for products.
• You will be responsible for ensuring Contracts/Purchase orders are placed on suppliers based on lead time considerations, optimizing the procurement process.
• You will be responsible for continuously exploring alternate options/suppliers to secure the best prices. Track and monitor supplier performance, providing financial data support to team members for effective negotiation strategies.
• You will be responsible for monitoring On-Time-In-Full (OTIF) and Delivery in Full, Complete, and DCO metrics to maximize weightage. Stay informed about emerging technologies and suppliers to optimize cost models.
• You will be responsible for generating ideas for process and cost improvement action points, actively participating in the implementation and regular monitoring of these initiatives.

• Preparing product strategy document
• Analyzing procurement data
• Signing-off Supply Agreements with manufacturers/suppliers
• Price & Volume adherence in accordance with FY Budget 
• Cost reduction/avoidance adherence [OE Savings Target > 95% achievement]
• Supplier OTIF [Associate responsibility]
• % rejections for category supplies (Rejections<1%)
• Adherence to ESG program in accordance with FY plan
• Facilitate GQM Supplier Audit requirements and CAPA Closure (Nil pending)
• Signing-off Quality Agreements with supplies in accordance with GQM CY plan (Nil pending)
• Liquidation of slow and non-moving material
• Bench Marking

Minimum Experience Required- 6-9 years of experience in Strategic sourcing and procurement

Skills & attributes – 
Technical Skills 
• Proven experience in commodity intelligence, Indexing, and sourcing strategy development 
• Strong negotiation skills and strategic sourcing expertise.
• Familiarity with digital tools and key performance metrics.
• Knowledge of import functions, sourcing tools, and market dynamics.
• Knowledge of emerging technologies and trends in the sourcing domain. 
• Familiarity with advance licenses and budget management.
 Behavioural Skills
• Excellent communication and interpersonal skills.
• Business Acumen & Decision Making.
• Good Negotiation Skills.
• Strategic thinking and problem-solving skills.
• Performance oriented and good at building, leveraging relationship.
• Ability to work collaboratively with own team and cross-functional teams.

Qualifications

Batchelors of Science / Master of Science / Engineering / MBA

Experience Level

Entry Level