Responsibilities
- To create Sourcing Strategy for FWD business of Myntra; Formulate and implement comprehensive sourcing strategies for both global and domestic markets, considering factors such as cost, quality, lead times, and supplier capabilities
- Supplier Management:** Identify, evaluate, and onboard suppliers across various regions, fostering strong relationships to ensure a reliable and diverse supply chain. Conduct regular supplier performance evaluations and implement improvement initiatives as needed.
- Negotiation and Contracting: Lead negotiations with suppliers to secure favorable terms, including pricing, payment terms, and contractual agreements. Draft and finalize contracts, ensuring alignment with company policies and legal requirements.
- Risk Management:** Proactively identify and mitigate risks associated with sourcing activities, such as geopolitical instability, supply chain disruptions, and regulatory changes. Develop contingency plans to minimize the impact of potential disruptions.
- Cost Optimization: Drive cost-saving initiatives through strategic sourcing, process improvements, and value engineering. Continuously monitor market trends, currency fluctuations, and commodity prices to optimize sourcing decisions.
- Collaboration with Cross-functional Teams: Work closely with cross-functional teams including design, production, quality assurance, and logistics to ensure alignment of sourcing activities with overall business objectives. Provide support and guidance on sourcing-related matters as needed.
- Compliance and Ethics: Ensure compliance with all relevant laws, regulations, and industry standards pertaining to sourcing practices, ethical sourcing, sustainability, and labor practices.
- Performance Tracking and Reporting: Establish key performance indicators (KPIs) to measure the effectiveness of sourcing operations. Generate regular reports and analysis to track performance against targets and identify areas for improvement.
- Develops, manages, and coaches a high-performing vendor team, ensuring current and future business needs are met. Should be a good leader to be able to guide the team on priority planning ensuring deadlines are still met.
- Maintain a healthy and large-scale vendor base across apparel, non-apparel and niche categories with long term strategic negotiations.
- Drive product innovations, sustainability, and lead projects on product reengineering to enable latest product launches for key brands in the platform.
- Ability to identify business needs and work on capacity creation and lead the team to optimize capacity and adherence to price targets.
- Lead the team to create pipeline to provide alternatives to merchandising/design teammates to meet commercial requirements at the most competitive cost.
- “Go To Market” Accountability: Takes ownership for accurately tracking adoption rates, delivery of proto/shoot/catalogue/PP samples to meet required targets. Is accountable for driving team to meet GTM deadlines. Uses communication and negotiation skills to influence Design and buying/Merchandising partners to achieve GTM milestones.
- Analyse and calculate costs of procurement and suggest methods to decrease expenditure.
Qualifications & Experience
- 12-15 years of proven work experience in Sourcing – Product Development.
- Familiarity with sourcing and vendor management and relevant categories.
- Able to handle the e-com style option scale and growth pace.
- Understanding of market dynamics and sound business judgement.
- Ability to negotiate and sustain networking relationships.
- Comfortable with figures and in collecting, analysing and interpreting data.
- Degree in garment textiles is good to have.
*Additional Requirements:**
- Willingness to travel domestically and internationally as required.
- Flexibility to work across different time zones to support global sourcing activities.
- Ability to thrive in a fast-paced and dynamic environment, with a high degree of resilience and adaptability.
