Amitabh Kumar - Head of Procurement, IFFCO Group

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Work Background

IFFCO GroupHead of Procurement & Market Intelligence

Nov. 2017Dubai, United Arab EmiratesSpearheaded the Procurement transformation, introducing Future-fit organization, Automated workflows and Strategic supplier partnerships that led to a 30% cost savings across key material categories within the first year of implementation. Established Market Intelligence to support global procurement team with Procurement analytics, Commodity analytics & Risk Management, which enables effective decision making to retain competitive edge in the market. Streamlined vendor selection and Procurement strategies that led to a cost savings of 25% on multi-year supply contracts, while ensuring supply chain resilience, compliance with corporate policies and quality standards. Strategic sourcing and Procurement risk management using Statistical models, Value-at-risk (VaR) analysis, Variance analysis of latest estimates, Cost-per-tonne benchmarking and Inflation indexing etc Develop commodities outlook using fundamental & technical analysis and risk management for Dairy Products, Cocoa Products, Sugar, Vegetable oils & fats, Corn derivatives, Edible nuts, Soap noodles, Crude oil, Petrochemicals, Natural gas, Polymers, Steel, Tinplate, Paper & Paperboard etc. Expertise in developing hedging strategies on Futures/Options/OTC/SWAP etc. for commodities & currencies.

IFFCO GroupManager Procurement & Knowledge Center

Jan. 2012 - Nov. 2017United Arab EmiratesTransformed the procurement strategy by establishing supplier relationships, negotiating favorable terms, leveraging economies of scale for a diverse product lineup, resulting in an annual cost savings of 15% and improving on-time delivery by 25%. Procurement negotiations, supplier development & contracting of raw materials like Milk powders, Butter, Cocoa, Sugar, Vegetable oils & fats Corn derivatives Edible nuts, Soap noodles etc. bringing MTM savings YoY. Develop commodities outlook forecasts using fundamental & technical analysis for Agri products, Dairy, Cocoa, Sugar, Palm oil, Wheat, Corn etc. to ensure competitive advantage.

Clairvoyance ConsultingSenior Procurement Consultant

Feb. 2011 - Jan. 2012New Delhi Area, IndiaImplemented performance linked consulting services for various clients with respect to Strategic sourcing & Cost optimization through Commodity analysis, Hedging & Risk management, leading to 20% MTM savings. Engineered a comprehensive supplier evaluation strategy that vetted and onboarded 50+ new suppliers within a 6-month period, improving product quality by 20% and ensuring supply chain resilience across multiple client projects. Analyzed the Indian grain market and developed sourcing strategy for a leading FMCG multinational in India. Developed cost optimization & commodity hedging model for an Indian food manufacturing company Supported one of the largest importers of pulses in India in their business expansion projects.

Dabur India LimitedSenior Procurement Analyst

Aug. 2005 - Feb. 2011Kaushambi Corporate Office, Ghaziabad, IndiaSet up & managed commodities risk management desk. Quantitative & qualitative commodity analysis using fundamental methods and technical analysis tools like AnalyzerXL & MetaStock. Futures trading of crude oil, vegetable oils and sugar on Indian & international commodity exchanges like NCDEX, MCX, CME, ICE & BMD. Supported strategic sourcing of commodities through commodity research & cost benefit analysis, hedging in physical & futures markets. Prepared annual purchase budget & procurement strategy for spend more than INR 3000 crores. Prepared & presented quarter end reports to the managing committee (MANCOM) covering performance analysis, outlook of commodities and purchase strategies for year based on the global economic situation.

EQUITY ENGINEERS PVT LTDEquity Research Analyst

May. 2003 - Jul. 2005Equity research and outlook forecasting using fundamental & technical analysis using software MetaStock & Stata.