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I'm known as a thoughtful leader who is passionate about the work I do and the integrity I do it with. With deep domain expertise in supply chain, procurement and sourcing I don't look at a project with the status quo mindset, but instead do my own independent due diligence to form a unique perspective. This approach, along with the basics of negotiating the best price, terms and conditions allows me to deliver significant value in terms of monetary benefits and reduction in risk as well as the speed to completion. Here are examples of what I’ve brought to sourcing:- Secured $1M reduction in annual support cost from an existing entrenched vendor.- Successfully led a complex cross functional team to secure exceptional terms and pricing from an existing vendor with very limited leverage.- Delivered annual net benefit of ~$8M after vendor cost due to handle time reductions and IVR improvements after numerous rounds of negotiations with multiple biometric authentication vendors.On a personal note, I love traveling to remote areas of the world, speaking with the locals and learning about their world view. As someone once said, we are who we are based on the books we read, the people we meet and the experiences we have. For me traveling accomplishes all three. All have greatly enriched my life, changed me as a person and broadened my perspective. And, consequently, made me a better leader, negotiator and problem solver contributing to the business success of companies I am a part of. Expertise:Sourcing, Procurement, Category Strategy, Negotiations, Risk Mitigation, Supplier Relationship, Supplier Performance, RFx, Competitive Bid, Commercial Contracts, Total Cost of Ownership and Financial Analysis
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Sourcing Commodity LeaderSynchrony Financial Jul 2014 - Sep 2019Greater Atlanta AreaCompleted a variety of indirect sourcing projects from an array of business functions like human resources, finance, marketing, IT, legal, sourcing, operations, travel and living. Delivered significant value and savings well into double digit millions of dollars while taking into account various risk factors.Developed a category strategy around artificial intelligence opportunities in the financial services industry.Select Accomplishments:- Successfully led a complex cross functional team to secure exceptional terms and pricing from an existing vendor with very limited leverage.- Secured $1M reduction in annual support cost from an existing entrenched vendor.- Delivered annual net benefit of ~$8M after vendor cost due to handle time reductions and IVR improvements after numerous rounds of negotiations with multiple biometric authentication vendors.- Executed a large number and diverse set of agreements to ensure timely separation of Synchrony Financial from GE that ranges setting up a political action committee (PAC) to a learning management system (LMS). -
Sourcing Commodity LeaderGe Capital Jul 2014 - Nov 2015Greater Atlanta AreaPart of an amazing transformation and initial public offering (IPO) of an 80 year old GE Capital business to Synchrony Financial. Contributor to one of the largest transfer and diverse negotiation of contracts most sourcing professionals will ever see in a lifetime.Negotiated a 401k plan in Puerto Rico; Established a political action committee in Washington, DC; Actively contributed to standing up SYF’s buy to pay system in about a year. -
ConsultantIndependent Consulting 2012 - 2014Led $25M project for security services at 50+ Manheim car auction sites throughout the United States to mitigate significant cost increases due to changes in healthcare regulations.Critical consulting project to improve customer service, operational efficiency, business strategy and revenue.$4.5M project to restructure outbound sales call vendors from a pay per hour to a performance-based model at Cox Communications.Select Accomplishment:- Performed critical analysis on $33M transformational project with a top tier consulting company to incentivize project success and 50% reduction in rates.
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Sourcing ManagerCiti Mar 2010 - Dec 2011Tampa/St. Petersburg, Florida AreaProvided IT software sourcing activities in the financial services industry involving projects up to $50M with a diverse group of software vendors.Negotiated software & IT professional service contracts: Master License & Support Agreement, License Schedules, IT Professional Services Agreement, Work Orders, Software as a Service (SaaS) Agreement, and Trial Agreement.Select Accomplishments:- Negotiated $1.5M in rebate savings from Citi’s largest 3rd Party Software Reseller.- Identified through interviews and analysis key areas of financial and contractual negotiating points with a large enterprise software vendor involving complex intellectual property (IP) negotiations in a multi-regional software upgrade and deployment. -
Commodity ManagerSypris Electronics Apr 2008 - Jun 2009Tampa/St. Petersburg, Florida AreaEstablished contemporary commodity management processes and tools in government contracting valued at $40M. Partnered with customers to achieve optimal bill of material (BOM) cost for products.Select Accomplishments:- Exceeded commodity management cost reduction goals for 2008 by delivering better than 300% ($755K) in a high mix / low volume environment.- Shifted procurement culture from tactical purchasing to strategic contract price negotiations. -
Global Commodity ManagerLenovo Jul 2005 - Jun 2007Raleigh-Durham, North Carolina AreaResponsible for activities related to global commodity strategy design and execution, multi-year contract negotiation, price masking, and new product introduction (NPI) for connectivity products valued at $250M.Established a strong network among global logistics / operations, development, cost operations, finance, supply demand planning, legal, marketing and sales to shift offerings for optimal cost savings and supply assurance.Select Accomplishments:- Exceeded group commodity management cost reduction goals by $35M in 2005 and 140% in 2006 by interfacing closely with engineering design centers in America and China.- Successfully negotiated from suppliers $1M in engineering funds to support development. -
Worldwide Operations ManagerIbm Apr 2003 - Jun 2004Raleigh-Durham, North Carolina AreaServed as highest non-executive escalation point worldwide ensuring continuity of global supply for IBM’s options and visuals business generating approximately $1.8B in revenue a year working closely with regional fulfillment control towers (Americas, EMEA, AP) and worldwide operations commodity managers.Significantly reduced the number of supply shortage escalations to executive management by improving communication and the accurate and timely flow of information.Select Accomplishments:- Analyzed and implemented a global options strategy plan that resulted in $5M of savings per month.- Key participant in global executive conference calls on supply status, headlights to potential problems and inventory optimization worldwide. -
Worldwide Operations Commodity ManagerIbm Jan 2001 - Apr 2003Raleigh-Durham, North Carolina AreaResponsible for all activities related to continuity of supply for IBM’s planar, printed circuit board and inverter card commodities across five in-house manufacturing facilities worldwide (US, Mexico, UK, Japan, and China) and suppliers located in US, South America, Eastern Europe and Asia.Designed key supplier performance metrics that resulted in significant improvement in serviceability and supply assurance.
Hetal Patel Skills
Hetal Patel Education Details
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Healthcare -
Project Management -
Engineering
Frequently Asked Questions about Hetal Patel
What is Hetal Patel's role at the current company?
Hetal Patel's current role is Value creator.
What is Hetal Patel's email address?
Hetal Patel's email address is hp****@****ail.com
What is Hetal Patel's direct phone number?
Hetal Patel's direct phone number is +142389*****
What schools did Hetal Patel attend?
Hetal Patel attended Georgia Institute Of Technology, The George Washington University, Georgia Institute Of Technology.
What skills is Hetal Patel known for?
Hetal Patel has skills like Strategic Sourcing, Procurement, Strategy, Cross Functional Team Leadership, Management, Project Management, Business Process Improvement, Supply Chain, Contract Negotiation, Supply Chain Management, Sourcing, Business Strategy.
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Hetal Patel
Chicago, Il -
Hetal Patel
Managing Director - Business Architecture And Product Strategy | Financial ProductsGreater Chicago Area -
Hetal Patel
Somerset, Nj1google.com -
Hetal Patel
New York, Ny1yahoo.com
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