Sourcing & Product Development is a key role within the organization, responsible for the entire lifecycle of new products. This encompasses sourcing and negotiating with suppliers, ensuring product quality and compliance, and managing the product's journey from concept to shelf. The role requires a strong understanding of the product development process, commercial acumen, and the ability to build and maintain relationships with suppliers.
About the Role
The role involves overseeing all stages of product development, from initial sourcing and sampling to final production, shipping, and product launch.
Responsibilities
- Product Development and Management: Oversee all stages of product development, from initial sourcing and sampling to final production, shipping, and product launch.
- Supplier Identification and Sourcing: Proactively identify potential new suppliers through various channels.
- Tender Management: Prepare and execute sourcing tenders, analyze results, and develop negotiation strategies based on competitive offerings and cost analysis.
- Negotiation and Contract Development: Negotiate and establish contracts with suppliers, focusing on key terms such as volume, price, quality, logistics.
- Supplier Relationship Management: Engage in regular negotiations and business reviews with suppliers to foster continuous improvement, innovation, and ensure adherence to quality and service agreements.
- Cross-Functional Collaboration: Liaise with key stakeholders across various departments, including Brand & Business Development, Research & Development (R&D), Inventory, Marketing, and Operations, to ensure alignment and successful product launches.
- Inventory and Forecast Management: Monitor inventory levels and collaborate with Inventory and Demand Planning teams to align forecasts with trade plans.
- Promotion Management: Manages promotion planning and ensure products sales and penetration.
Qualifications
- Bachelor's degree preferred, but other qualifications with relevant experience will be considered.
Required Skills
- Team player and ability to collaborate and work effectively with a variety of stakeholders.
- Resourceful, problem solver and result oriented.
- Strong business acumen and data analytic skills.
- Preferably in a retail or consumer packaged goods environment.
Workplace location: FairPrice Hub (just next to Joo Koon MRT)
