Global Oil Procurement Specialist

Job Context: In our manufacturing process, oil serves as a fundamental raw material. As a Global Oil Procurement Specialist, this role will play a critical role in ensuring the uninterrupted supply of high-quality oil from diverse sources across the globe.

Principal Accountabilities:

1. Strategic Sourcing: Monitor global oil markets, industry trends, pricing fluctuations, and regulatory changes to inform procurement strategies and mitigate risks. Identify, evaluate, and procure various types of oils from global suppliers to meet the requirements of our manufacturing process while optimizing cost & quality. Identify opportunities for cost optimization & efficiency improvements within the procurement process, exploring alternative suppliers and sourcing strategies. Strong commercial acumen, with the ability to analyze market trends, negotiate effectively, and drive cost savings while maintaining quality standards
2. Supplier Management: Cultivate and maintain strong relationships with suppliers, negotiating favorable terms, pricing, and contracts to ensure a reliable and efficient supply chain. Lead negotiations with suppliers to secure competitive pricing, favorable payment terms, and contractual agreements aligned with business objectives.
3. Compliance of SOP, Statutes, Risk Management and Systems & Processes: Ensure compliance with relevant regulations, industry standards, policies in all procurement activities. Assess and mitigate risks associated with oil procurement, such as supply chain disruptions, geopolitical factors, and price volatility
4. Quality Assurance: Collaborate with quality assurance teams to ensure that procured oils meet the required standards and specifications for our manufacturing process
5. Hedging Strategy: Develop and implement hedging strategies to manage price risks associated with oil procurement, utilizing financial derivatives, futures contracts, options, and other hedging instruments

Knowledge Skills and Ability: Bachelor’s degree in business administration, Supply Chain Management, Chemistry, or a related field. Proven experience in oil procurement or related industries, with a deep understanding of oil types, characteristics, and applications in manufacturing processes. Collaboration & networking skills in order to work with all plants. Analytical mindset with proficiency in data analysis tools and techniques to inform decision-making and optimize procurement processes. Familiarity with international trade regulations, customs procedures, and logistics management in the context of global oil procurement.