About the job

Division

Finance

Department

Operations Finance

Sub Department 1

SCM Finance

Job Purpose

Provide strategic partnership to supply chain function in the area of procurement by a) defining & monitoring targets, b) Identifying areas & driving actions to achieve procurement financial goals & c) establishing adequate control and governance mechanisms in order to improve bottom-line & compliances

Key Accountabilities (1/6)

• Establish Annual operating plans, Budgets for Procurement, before set date across all Categories, reduce cost as per industry benchmarks to improve margins.

• Prepare and recommend Budgets before set date for direct procurement of direct material procurement across Categories for Ciplaâs

• Work with procurement team for forecasting rates based on past trends, expected volume in future, Current market scenario, Macro and Micro economic analysis, Demand-Supply scenarios.

• Discuss and present findings to FP&A costing team members, other cross functional team members.

• Suggest views on various assumptions and obtain approvals from the SCM Head & Global CFO

• Circulate Budgets across Cipla group to Various stakeholders
  
  

Key Accountabilities (2/6)

• Establish Processes and Systems to evaluate Variance, Year on Year cost reduction, Benchmarking, MTM analysis, actual savings against targets on monthly basis, to facilitate accomplishment of budgets.

• Prepare monthly MIS reports for Procurement and CAPEX, Variance Analysis, action plans to achieve savings targets.

• Conduct activities to ensure structured, relevant and validated data input for monthly presentations and reviews

• Prepare year on year savings report, Bench marking and MTM analysis

• Prepare detailed analysis of Spend, circulate MIS to stakeholders, & issue resolutions for MIS

• Discuss levers and additional initiatives required to accomplish targets

• Work with procurement in establishing rate contracts to reduce costs and leverage pooling of resources, on continuous basis

• Suggest measures to control cash flow by optimizing credit period, analysing lead times for local and imported procurement
  
  

Key Accountabilities (3/6)

• Evaluate and resolve various operational issues of procurement team related to finance (CAPEX, cross - functional and with external vendors) and provide support, in order to facilitate smooth operations.

• Co-ordinate with operations team for better visibility of cost & control over process

• Negotiate with vendors for high value direct material, CAPEX and disposal of scrap and wastes.

• For commodity based product ,monitor price trends, recommend Hedging / positions at bottom prices / Strategic positions to procurement head

• Approve advances as per the Delegation of Authority (DOA) for disposal of scrap and wastes

• Control advances for Procurement and CAPEX, co-ordinate to resolve issues related to payments.

• Co-ordinate and resolve cross functional issues involving finance

• Support business and finance team members for compliances to statutory and regulatory requirements

• Provide support for implementation of procurement policies
  
  

Key Accountabilities (4/6)

• Identify process gaps & drive automation projects for SCM in the areas of procurement, and MIS generation in order to improve efficiency & controls.

• Evaluate current information system, suggest actions on various issues and recommend appropriate improvements to optimize productivity and IT enablement

• Develop reports for strong internal financial controls, continuous process improvement and objective analysis

• Suggest changes for standardization of business processes related to Global procurement, CAPEX and disposals of scrap and wastes.

• Maintain documentation related to RFQs, Rate contracts, approval matrix in IT system

• Interact with IT, SAP and cross functional team members for implementation of IT initiatives

• Develop various reports in SAP to bring better visibility on issues
  
  

Key Accountabilities (5/6)

• Establish and Enforce DOA, Internal Financial Control (IFC) & Audit recommendation for procurement to achieve compliance.

• Review and suggest amendments to approval matrix, policies and other operational reports.

• Collect data, monitor performance of various business processes.

• Compile and submit reports to various stakeholders

• Conduct Internal financial control related activities for CAPEX, Direct procurement and SCM Finance

• Resolve issues / queries raised in Internal and External Audits

• Enforce data discipline for compliance to applicable regulations

• Prepare and review checklist to ensure that Systems are properly implemented
  
  

Key Accountabilities (6/6)

• Participate in various projects related to Global Procurement and CAPEX to achieve Cost control and facilitate accomplishment of targets in the context of regulatory changes.

• Evaluate and track various procurement related cost savings projects

• Evaluate financial impacts of various regulatory changes

• Suggest action to optimize costs and provide support in implementation across functions

• Prepare and communicate cost control reports

• Carry out various activities required for implementation of GST in Global procurement & CAPEX
  
  

Major Challenges

• Continuous coordination and communication with 200 functional team members . Overcome by - Creating sub-teams and regular meetings with the team members .

• Multiple stakeholders and varied expectations (timelines, delivery, data, objectives) results in various Conflicts during execution of project. Overcome by - Facilitate focus on overall Organisational goals, process simplification, IT enablement and improvements to meet deadlines. End to end SAP usage for data accuracy and hygiene.

• Delay in data compilation, slowdown in business processes in view of lack of integrated approach for Issue resolution and solution development . Overcome by- System oriented approach, Automation
  
  

Key Interactions

INTERNAL

• Global Procurement Team on Daily basis for Data, issues, control, discussions

• Finance, Costing, FP&A, Domestic business, Accounts on Monthly / fortnightly basis for Data, Compliances, Issues

• Legal, Quality, MDM, Manufacturing Finance - as per need
  
  

EXTERNAL

• Consultants for various projects / Special projects implementations such as EBITDA, GST

• SCM / CAPEX Vendors â Negotiations, Payment terms, resolution of issues

• Auditors â Data compilation, monitoring Processes, resolution of queries

• Researchers in the market- Obtain market insights, various reports
  
  

Dimensions

• Procurement spend â Rs 4000 crores, 23000 SKUs, Team of 200 persons, savings target of Rs.120 crores, ~ 100000 POâs

• CAPEX spend - Rs. 1000 crores for all manufacturing locations, Team of 30 persons, Disposal of scrap Rs. 50 to 100 crores

• Team member in 2/3 projects per year, savings target of Rs.300 crores

• Cater to all geographies globally
  
  

Key Decisions

DECISIONS

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