Commodity Procurement Specialist
2 weeks ago
The Commodity Manager plays a pivotal role in ABC Technologies Inc Defunct's commodity procurement team, driving strategic sourcing, cost savings, and supply chain optimization initiatives to support the company's manufacturing operations.
Key Responsibilities:- Develop and execute comprehensive commodity strategies aligned with ABC's business objectives, considering market trends, cost structures, and technological advancements.
- Collaborate with procurement leadership and finance to create annual procurement budgets and forecasts, analyzing historical spending patterns, market trends, and demand forecasts to ensure accurate estimates.
- Conduct detailed cost analysis and benchmarking to identify opportunities for cost savings, value optimization, and process efficiencies within the commodity supply chain.
- Lead negotiations with suppliers to secure competitive pricing, volume discounts, and favorable payment terms while maintaining quality standards and supply chain reliability.
- Ensure new component sourcing meets cost, quality, and delivery requirements established by the program team, leveraging new sourcings to provide savings opportunities to the organization.
- Develop sourcing strategies to select suppliers based on factors such as cost competitiveness, quality, reliability, technical capabilities, and financial stability.
- Develop strategic relationships with key suppliers to drive continuous improvement initiatives, cost reduction programs, and value-added opportunities.
- Monitor supplier performance against established metrics, such as cost savings targets, quality standards, on-time delivery, and responsiveness, and take corrective actions as needed.
- Support supply risk initiatives to ensure continuity of supply at ABC plants, assessing and mitigating risks related to commodity price volatility, supply chain disruptions, geopolitical factors, and regulatory changes.
- Develop risk mitigation strategies, such as hedging, inventory management, dual sourcing, and contingency planning, to minimize the impact of unforeseen events on cost and supply chain continuity.
- Prepare regular reports and presentations for senior management, highlighting budget performance, cost savings achievements, supplier performance, and strategic recommendations for continuous improvement.
- Bachelor's degree in Business, Supply Chain Management, or a related field; MBA preferred.
- Minimum 5-7 years of automotive purchasing experience at OEM/Tier 1 level.
- Proven track record of success in global procurement, strategic sourcing, and supply chain management.
- In-depth understanding of global markets, industry trends, and international business practices.
- Strong cultural awareness and sensitivity to diverse customs, values, and communication styles.
- Experience working with and managing teams from different cultural backgrounds.
- In-depth knowledge of procurement best practices, strategic sourcing, and supply chain management.
- Strong negotiation, contract management, and supplier relationship management skills.
- Demonstrated ability to lead and develop high-performing teams.
- Excellent communication and interpersonal skills.
- Analytical mindset with the ability to make data-driven decisions.
- Familiarity with relevant regulations and compliance requirements in the automotive industry.
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