Strategic Procurement Manager
7 months ago
Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
Job Descriptions:
Commercial conditions optimization
Drive cost optimization initiatives by identifying sourcing strategies for vendors used by multiple departments. Attempt to maximize cost savings and minimize risk Report regularly the performance of cost saving initiatives. To seek consolidation of the vendor base through identification of vendor rationalization opportunities and establishment of preferred vendors and strategic partnerships where applicable across the businessStrategic procurement
Define sourcing strategies that are aligned with Group Procurement, monitor vendor performance and track achieved benefits Lead end-to-end buying activities above procurement threshold. Collaborate with stakeholders to understand business requirements and algin procurement strategies with organisation goals Join tendering and evaluate vendors for significant company buying activities. Introduce vendor to business for RFP process Provide guidance, coaching and oversight for business to conduct comprehensive supplier evaluations. Review and approve designed RFP, scorecard and recommendation of award prepared by business. Manage vendors on price negotiation, terms and conditions. Handle any ad-hoc engagements assigned by the manager.Contract negotiation
Lead contractual negotiation on buying activities above procurement threshold. Review and analyse supplier contracts, terms and conditions. Negotiate favourable commercial terms, including pricing, payment terms and service level agreements. Ensure stakeholders to monitor contract performance periodically. Manage contract renewals.Project & Initiatives
To continually utilize best procurement practices and identify continuous improvement opportunities in the capability of the PHKL Procurement function Support compliance to the Procurement Policy and implement initiatives that drive awareness and compliance to the Procurement Policy across the business Report regularly to Group and PHKL management on the performance of cost saving initiatives, RFP in pipeline for example, and support various data request.Job Requirements:
Bachelor’s degree in business administration, supply chain management or a related field. University degree with minimum 6 years of experience in strategic sourcing experience in the insurance industry Proven experience in Procurement functions Proven track record of delivering cost savings in sustainable business, and value-added initiative Experience and expertise with procure-to-pay and contracting system/tools Possess high level of integrity, work ethics and good moral values. Strong negotiation and contract management skills, with ability to manage complex contract and supplier relationships. Excellent communication and stakeholder management skills, with the ability to work effectively with cross-function teams. Work closely with diverse range of suppliers and possess knowledge of their capabilities, quality of supply, turnaround time and price competitiveness. Experience across Non-IT procurement categories such as Professional Services, Travel & Entertainment, HR, Marketing and General Office Expenses etc. is preferable. A strong passion for procurement and vendor management, excited about seeking new opportunities to demonstrate the value of effective procurement in business and actively pursuing to continuously improve, learn and adopt market leading procurement practices and principles in the industry Knowledge of procurement system (e.g. Coupa) and Microsoft Office (i.e. Excel, Access and Word) Excellent oral and written communication and presentation skills; fluent in spoken English and Chinese. Willingness to challenge status quo. Able to work independently and under tight deadlines.-
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