Bonito Designs - Manager - Procurement - IIM/MDI/ISB/FMS (4-7 yrs)
About the Industry :
The interior design market in India is large (4 lac homes delivered in top 8 cities annually) and fragmented (~95% unstructured), with a very low customer satisfaction level, and an increasing demand for personalized and well-designed interiors. Also, being a labour intensive market, there are large inefficiencies, and scope for high margins through standardization of design and product, which makes it a very attractive category for building a scalable and profitable brand.
About the company :
Bonito Designs was started in 2012, and has built a very strong brand in the interior design space, reflected in the popularity of its YouTube channel, which is the third largest in the category globally (450k+ subscribers, 70m+ lifetime views). They have designed over 1500 homes till date, and have scaled from an annualised run-rate (ARR) of 10 Cr in Mar - 19 to ARR of 80 Cr in Sep - 20, on track to achieve EBITDA profitability in the next few months, in Bangalore. During Covid times too, the organisation has grown significantly, demonstrating the most efficient capital consumption to growth story and the lowest cash burn to revenue ratio in the organized online interiors space. Founders have built a very strong leadership team with an exceptional design head with a strong international experience and great talent across Marketing, Sales & Supply Chain, leading a team of over 240 people.
Bonito has been funded by Tomorrow Capital - an early stage strategic investment fund. With the business stabilizing in Bangalore, Bonito will expand into Mumbai next, where we believe there is a significant headroom for growth on account of possible large development tie-ups. The experienced team of Bonito is well poised for exponential growth and will be raising their next round of funding by 2021.
About the role :
- Operations is the engine behind the machine, where the process of converting a signed-off design to the home of someone's dream home happens. It involves a complex mechanism of managing in-house team, vendor partners, warehouses, manufacturing partners and on-site contractors.
- As Procurement Manager in the Operations team, you will handle a team of executives to ensure Vendor management and coordination runs smoothly. Your team will be responsible for coordinating with internal stakeholders to place orders on time & coordinate with vendors to ensure the organisation delivers high quality homes to customers on time. You will be in charge of creating a solid process to ensure site works move smoothly in tandem with our vendor partners. The role reports into the Head of Ops.
What you will do :
- Manage team of procurement executives (5-10 members) handling categories varying from Raw Materials, Factories, Contractors, Home D- cor & Home services
- Build systems to ensure timely orders placed, orders received & orders serviced
- Coordinate with internal teams including Design, Sales, Execution
- Manage vendor expectation & relations
- Ensure vendors adhere to Bonito standards of timeline and quality
- Periodic vendor reviews, evaluations, renegotiations
- Coordinating with the vendors if any escalations with new vendors because of material delay, Reorder, follow-ups etc
- Own processes for Procurement Operations, suggest & implement improvements
- Responsible for giving insights to management and help in strategic planning
What you will need :
- Structured thinking & process building skills
- Ability to work with cross-functional teams
- Ability to manage a team - set expectations, track performance
- Comfortable with ambiguity, managing multiple categories and projects at different stages
- MBA or Engg graduate from a premium institute
- Min 4-6 years of relevant experience in Procurement or Operations
- Has handled a team of min 4 members