Outright Gemstone Sourcing Executive

 Job Purpose

To manage and execute outright gemstone sourcing (Gemstone vendors to jewellery vendors gemstone supply)  activities for various jewellery brands (Tanishq/MIA) and business requirements by identifying reliable gemstone suppliers, scouting new and differentiated stones, benchmarking market prices, negotiating commercially competitive deals, and ensuring the right quality, cost, availability and delivery of gemstones for outright sourcing

The role will act as a key interface between Gemstone Sourcing, Design, Merchandising, Category, Quality, NPI, Jewellery Vendors and Gemstone Vendor Partners.

 Key Responsibilities

 Gemstone Sourcing & Procurement

• Execute end-to-end outright gemstone sourcing as per business requirements, collection requirements and approved procurement plans.
• Source gemstones across categories such as precious, semi-precious, colour stones, beads and special/unique gemstones.
• Identify suitable stones based on colour, size, shape, cut, clarity, availability and price.
• Ensure timely sourcing against approved requirements, development needs and collection launches.
• Explore alternative and economical gemstone options without compromising defined quality standards.

Vendor Development & Market Exploration

• Identify, evaluate and develop new gemstone vendor partners
• Conduct regular market scouting to understand new gemstone varieties, colours, cuts, treatments, sources and emerging trends.
• Build a reliable vendor network for both regular and niche/unique gemstone requirements.
• Support gemstone vendor empanelment through commercial, capability and quality evaluation.
• Develop alternate sources to reduce dependency and improve supply continuity.

 Price Benchmarking & Commercial Negotiation

• Conduct regular market price benchmarking for gemstones across different qualities, sizes,
• Obtain and analyse quotations from multiple vendors.
• Negotiate price, payment terms, MOQ, delivery timelines, replacement terms and other commercial conditions.
• Maintain updated gemstone price references and market intelligence.
• Identify opportunities for cost optimisation and value engineering.

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 Market Intelligence

• Track gemstone market trends, price movements, currency impact and supply conditions.
• Develop intelligence on major gemstone sourcing hubs and markets.
• Create periodic reports on market trends, price movement, new sources and sourcing opportunities.

 Data, MIS & Process Management

• Maintain accurate records of:
• Vendor quotations
• Gemstone prices
• Purchase orders
• Vendor performance
• Lead times
• Quality issues
• Market references
• New gemstone developments
• Prepare regular sourcing MIS and procurement reports.
• Maintain a structured Gemstone Price & Market Intelligence database.
• Ensure adherence to approved procurement processes, systems and documentation.

 Key Performance Indicators (KPIs)

• Cost competitiveness / savings achieved
• Timely fulfilment of gemstone requirements
• New vendor development and alternate sourcing
• New gemstone / differentiated stone development
• Vendor quality and delivery performance
• Price benchmarking effectiveness
• Procurement cycle-time reduction
• Supply continuity and availability
• Compliance with gemstone quality and treatment requirements
• Accuracy and timeliness of sourcing MIS
• Internal stakeholder satisfaction

Key Competencies

Technical Competencies

• Strong knowledge of coloured gemstones and gemstone characteristics
• Understanding of gemstone quality parameters
• Understanding of gemstone pricing and market dynamics
• Vendor sourcing and commercial negotiation skills
• Basic understanding of gemstone cutting, polishing and manufacturing processes
• Strong analytical and Excel/MIS skills

Behavioural Competencies

• Strong negotiation and influencing skills
• Commercial acumen
• Market curiosity and sourcing mindset
• Attention to detail
• Ownership and accountability
• Problem-solving ability
• Strong communication and stakeholder management
• Ability to work in a fast-paced, cross-functional environment

 Qualification & Experience

Qualification

• Graduate in any discipline; preferably Gemmology / Jewellery /Commerce / Supply Chain / Business Management.
• Gemmological certification/diploma from a recognised institute will be an added advantage.

Experience

• Preferably 2–5 years of experience in gemstone sourcing, jewellery procurement, gemstone trading, buying, vendor development or related areas.
• Candidates with strong gemstone knowledge and relevant market exposure may also be considered.