Assistant Manager-Procurement

LG Electronics Singapore; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading technology company in Singapore is seeking an experienced procurement professional to develop and implement strategies for indirect materials. Responsibilities include supplier relationship management, contract negotiations, and driving cost optimization. The ideal candidate will have over 5 years of experience in procurement, preferably in the consumer electronics industry, and strong analytical skills. Proficiency in procurement software and advanced Excel skills are required.

Qualifications

• 5+ years of experience in procurement or supply chain management.
• Experience in the consumer electronics industry preferred.
• Successful track record in strategic sourcing and cost savings.

Responsibilities

• Develop procurement strategies for indirect materials.
• Cultivate relationships with strategic suppliers.
• Lead commercial negotiations and manage contracts.
• Drive cost reduction initiatives through strategic sourcing.

Skills

Strategic Sourcing

Supplier Negotiation

Market Analysis

Relationship Management

Cost Optimization

Compliance Standards

Analytical Skills

Microsoft Excel

Education

Bachelor’s degree in Business Administration or Economics

Tools

Procurement Software

Job description

Roles and Responsibilities:

Strategic Sourcing & Category Management

• Develop and implement comprehensive procurement strategies for all indirect materials, components, and services. These include primarily Marketing activities (Media buying, PR, display rack), General Affairs, etc.
• Conduct market research and spend analysis to identify new sourcing opportunities, mitigate risks, and ensure competitive advantage.

Supplier Relationship Management (SRM)

• Analyze and evaluate vendor for accreditation and supplier management
• Source out potential vendors in Singapore
• Negotiate prices of quotation and proposals to achieve cost savings
• Cultivate and maintain strong, long-term relationships with strategic suppliers, fostering collaboration, performance improvement, and joint innovation.
• Conduct regular supplier performance reviews (QBRs), monitoring KPIs such as quality, delivery, cost, and responsiveness.
• Develop and implement supplier development programs to enhance capabilities and ensure supply chain resilience.

Negotiation & Contract Management

• Lead complex commercial and contractual negotiations with suppliers to achieve optimal pricing, favorable terms, and service level agreements (SLAs).
• Manage the full contract lifecycle, from drafting and review to execution and renewal, ensuring compliance with legal and company policies.

Cost Optimization & Value Creation

• Drive aggressive cost reduction initiatives through strategic sourcing, value engineering, supplier rationalization, and continuous process improvement.
• Implement total cost of ownership (TCO) models to evaluate procurement decisions beyond unit price.
• Monitor market trends for electronic components and raw materials to anticipate price fluctuations and implement hedging strategies where appropriate.

Compliance & Sustainability

• Ensure all procurement activities adhere to internal policies, industry regulations, and ethical sourcing standards.
• Provide necessary training of the internal procurement system to stakeholders
• Drive initiatives related to sustainable procurement, including supplier diversity and environmental considerations.

Contingency Function

• Oversees reconciliation of procurement-related documents due for payment processing
• Evaluate supplier's site for accreditation
• Ad hoc reporting, analysis, and other tasks as requested

Qualifications and skills requirements:

• Bachelor’s degree in Business Administration or Economics.
• Minimum of 5 years of progressive experience in procurement or supply chain management.
• Candidates with experience in the consumer electronics industry and internal procurement system management are highly preferred.
• Proven track record of successful strategic sourcing, complex contract negotiation, and significant cost savings achievements.
• Strong analytical skills, with the ability to interpret market data, conduct financial analysis, and make data-driven decisions.
• Excellent communication, interpersonal, and presentation skills, with the ability to influence and build relationships at all levels internally and externally.
• Proficiency in procurement software and advanced Microsoft Excel skills.
• Ability to thrive in a fast-paced, dynamic, and rapidly evolving environment.
• A creative mindset with relentless curiosity.