Sourcing Manager - Gold

Hiring for Assistant Manager - Sourcing(Gold) for leading Jewellery company

CTC: 35 LPA

Location: Mumbai

1. Strategic Sourcing & Procurement (Gold)

• Develop, implement, and manage strategic sourcing plans for plain gold (bullion and finished goods), focusing on achieving the best balance of cost, quality, and secure supply.

• Lead complex negotiations for pricing, credit terms, and delivery schedules with gold suppliers, refineries, and bullion dealers to meet aggressive cost-saving targets.

• Execute daily or periodic Finished Goods purchase orders based on real-time production schedules and inventory requirements.

• Schedule and manage the OTB (Open to Buy) plan to align procurement activities with financial budgets and sales forecasts.

2. Vendor Management & Development

• Proactively identify, evaluate, and onboard new plain gold suppliers/vendors, ensuring they meet strict criteria for compliance, quality standards, and production capacity.

• Conduct rigorous, periodic performance reviews of existing suppliers using key performance metrics (KPIs) such as quality, delivery time, reliability, and competitive pricing.

• Build and maintain strong, ethical, and collaborative long-term relationships with all key gold suppliers and industry partners.

3. Compliance, Quality & Risk Management

• Act as the custodian of sourcing compliance, ensuring all gold procurement activities strictly adhere to internal policies, local/international legal regulations, and industry standards (e.g.,

hallmarking, anti-money laundering (AML), and responsible sourcing guidelines).

• Coordinate closely with the Quality Assurance team to schedule and verify testing of sourced gold materials (e.g., accurate karatage and purity).

• Proactively identify, assess, and mitigate procurement risks associated with gold price volatility, potential supply chain disruptions, and non-compliance issues.

4. Cross-Functional Collaboration & Reporting

• Collaborate effectively with Manufacturing/Production/Category teams to synchronize sourcing and procurement schedules with the overall production plan.

• Work with the Finance/Accounts Payable team to ensure timely supplier payments and efficiently resolve any invoice or documentation discrepancies.

• Maintain accurate and organized records of all sourcing activities, contracts, and comprehensive vendor data within the procurement/ERP systems (e.g., Oracle).

• Prepare and present regular, detailed reports to senior management on gold purchase performance, documented cost savings, market analysis, and inventory levels.