Job Description
The Purchase Executive for New Product Sourcing is responsible for identifying and developing suppliers for new products. This role ensures materials are cost-competitive, high-quality, and available on time to support new product development. You will act as a key link between suppliers and internal teams to drive successful product launches from concept to production.
Your core duties will include:
• Leading new product sourcing (NPS) and new vendor development activities.
• Identifying, evaluating, and onboarding suppliers for new components and products.
• Floating RFQs/RFPs, conducting cost analysis, and supporting price negotiations.
• Coordinating closely with Engineering, Quality, and Production teams during development.
• Ensuring timely material availability for prototypes, trials, and production runs.
• Monitoring market trends, material pricing, and supplier capabilities.
• Maintaining all sourcing documentation, purchase records, and MIS reports.
• Ensuring all procurement activities adhere to company policies and procedures.
Skill Requirement
The ideal candidate will possess strong analytical and coordination skills, with a focus on strategic sourcing and supplier relationship management. Success in this role requires the ability to balance cost, quality, and timelines while effectively collaborating across multiple departments.
Key competencies and skills include:
• New Product Sourcing (NPS): Expertise in sourcing materials for new developments.
• Vendor Development: Proficiency in identifying, evaluating, and onboarding new suppliers.
• RFQ/RFP Management: Skilled in floating inquiries and analyzing supplier proposals.
• Cost Analysis & Negotiation: Ability to perform cost comparisons and support negotiations.
• Cross-functional Coordination: Experience working with Engineering, Quality, and Production teams.
• Supplier Evaluation: Competence in assessing vendor performance on quality, delivery, and cost.
• Market Intelligence: Ability to monitor trends, pricing, and supplier capabilities.
• Documentation: Meticulous in maintaining procurement records and MIS.