Procurement Sourcing Lead

at  OCBC Bank

Procurement Sourcing Lead - (2400012V)
The Procurement Sourcing Lead is responsible for overseeing and managing the sourcing activities.
Candidate will play a critical role in developing and implementing sourcing strategies, managing supplier relationships, negotiating contracts, and ensuring the availability of quality goods and services at competitive prices.
The Procurement Sourcing Lead collaborates with cross-functional teams and stakeholders to optimize procurement processes and drive cost savings.

REQUIREMENTS:

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field. Master’s degree is a plus.
• Proven experience as a Procurement Sourcing Lead or in a similar procurement role.
• Strong knowledge of procurement principles, strategic sourcing methodologies, and contract negotiation.
• Excellent analytical and problem-solving skills, with the ability to analyze data, identify trends, and make data-driven decisions.
• Strong negotiation and communication skills, with the ability to build and maintain relationships with internal and external stakeholders.
• Proficient in using procurement software and tools.
• Knowledge of relevant industry regulations and compliance requirements.
• Ability to work in a fast-paced environment, manage multiple priorities, and meet deadlines.
  Primary Location: Singapore
  Job: Application Services
  Organization: Group Corporate Services
  Schedule: Permanent
  Job Posting: 02-Aug-2024, 4:12:49 A

• Sourcing Strategy Development: Develop and implement comprehensive sourcing strategies aligned with the organization’s goals and objectives.
• Negotiation and Contract Management: Lead negotiations with suppliers to secure favorable terms, pricing, and contractual agreements while ensuring compliance with legal and regulatory requirements.
• Manage contract lifecycle, including renewals, amendments, and performance evaluations.
• Supplier Relationship Management: Develop and maintain strong relationships with key suppliers. Conduct regular supplier performance reviews, address any issues or concerns, and drive continuous improvement. Collaborate with suppliers to optimize quality, delivery, and cost-effectiveness.
• Cost Optimization: Analyze spend data, conduct cost-benefit analysis, and implement cost reduction initiatives. Collaborate with stakeholders to identify cost-saving opportunities and achieve savings targets. Continuously monitor and evaluate supplier pricing and market trends.
• Risk Management: Identify and mitigate risks within the procurement process, including supply chain disruptions, quality issues, and compliance risks.
• Develop and implement risk mitigation strategies and contingency plans to ensure business continuity.
• Cross-functional Collaboration: Collaborate with internal stakeholders, including finance, operations, legal, and quality teams, to understand their requirements and align sourcing strategies.
• Work closely with cross-functional teams to drive supplier performance, resolve issues, and optimize procurement processes.
• Supplier Diversity and Sustainability: Promote supplier diversity and sustainability initiatives by identifying and partnering with diverse suppliers and those with sustainable practices. Ensure compliance with corporate social responsibility and sustainability goals.
  Qualifications