Philips Internship: Predictive analyses for commodity price risk scenarios (Thesis possible) in Eindhoven, Netherlands

Your challenge

Are you the enthusiastic, talented intern we’re looking for?

Philips procurement is undergoing a transformation to accelerate growth and improve performance. For this important program we are looking for interns with a strong analytical study backgrounds, who can stand their ground and want to be part of this important program in Philips. As an intern, you will work with the Procurement Risk team and will work directly with colleagues and managers in Procurement as well as in the businesses that are supported by the function’s work. Building on your academic background, innovative focus and your creative, hands on, entrepreneurial mindset you will contribute in achieving our ambition. We offer you a role with great responsibility in a corporate environment where you get the chance to accelerate your own development.

Your responsibilities

The future is uncertain, especially when predicting market price developments of commodities. At Procurement Risk we realize it is impossible to predict the future which is why we are aiming to set up a multi-scenario based outlook including the likelihood of these scenarios.

Philips procurement is implementing a new cost exposure risk tool. This tool creates transparency and visibility to our exposure towards cost drivers like raw materials, labor and currency within the Procurement commodity clusters. One of the key outcome of the exposure tool is determine the actual amount, timing and likelihood of future risk and or opportunities due to market price trends of these cost drivers.

We offer you to join our Procurement Risk team and take this tool to a higher maturity level in terms of accurate forecasting in order to support our businesses in good fact base decision-making. You will be adding value to the existing exposure tool - by bringing in mathematical solution based range bond scenarios as well as supporting to improve the existing solution (user interface, reporting, etc.)

Your main tasks will be:

  • Understand market price behavior of the main cost-drivers e.g. raw materials, labor and currency.

  • Setting up cross cost driver correlation analysis from historical market price data

  • Analyze and set up reliable range forecasts, either by prediction intervals or confidence intervals. These ranges consist of two points, representing the reasonable “best case” and “worst case” scenarios as well as a base case scenario.

  • Set up a forecasting approach that could provide both accuracy and information: one that will protect the forecaster from the known traps of overconfidence and biased forecasting, and provide an informative forecast that includes all plausible future scenarios as well as an assessment of how likely each one of them is.

  • Provide your creative inputs, insights and suggestions on improving the existing tool

  • Support the deployment and stakeholder meeting preparations

Your team

You will be part of the Philips Procurement Risk team, and cooperate closely with Commodity managers.

Our offer

We offer exposure in a strategic position in a very dynamic business. You will have the opportunity to shape and direct high impact business strategies. In addition, Philips offers you excellent career development possibilities.

  • It can be discussed to make this internship suitable for a thesis assignment

  • Duration: 5 months+ (depending on student availability)

  • We prefer students available as soon as possible, but no later than June 2017

  • Location: High Tech Campus, Eindhoven

Internship conditions:

  • Students on work placement or final-year study assignment are paid a work placement or final-year study assignment allowance.

  • A student on a work placement or final-year study assignment is paid an allowance towards rented accommodation, depending on his/her situation. This will be determined setting up the Intern Contract.

  • A student on work placement or final-year study assignment who can prove that he/she is not entitled to a student card for public transport (OV-studentenkaart) is paid an allowance to cover the cost of travel between home and the place of work in accordance with the Conditions of Employment Guideline.

  • The student is entitled to paid leave on the basis of 1 day per month.

  • Opportunity to buy Philips products with tax benefit (Philips MyShop)

We are looking for

To be successful in this internship we are looking for you:

Students currently studying towards your final-year Bachelor / Master of science (Msc.) specializing in:

  • Mathematics/Statistics/Econometrics

  • Education or experience in Procurement (strategy, risk, market intelligence) and or Treasury is a plus.

In addition, we are looking for someone with the following competences:

  • Strong analytical, statistics, problem solving skills combined with a strong business sense and a drive for business impact;

  • An open and globally oriented work mentality, combined with a true self-starting character which will contribute to the overall team;

  • Ability to manage and organize both your own work as well as projects;

  • Strong skills in excel

  • Knowledge of SQL database is a plus

  • Solid spoken and written English skills;

  • Good communication skills (verbal and writing)

  • Strong self-drive;

If you recognize yourself in this profile and would like to take this challenge, we invite you to apply!

Notes

Required documents in order for us to approve and continue with your application:

  • Student registration form (Proof of enrollment at your current education)

  • Resume

  • Cover Letter outlining your motivation and informing your availability

Requirements

  • Every intern at Philips has to be registered as a student during the entire internship period.

  • For students outside EU/EER: Please note that in order to be considered for an internship, it should be compulsory by your education.

  • You can only apply through our website; applications through email won’t be taken into the recruitment process.

Your challenge

Are you the enthusiastic, talented intern we’re looking for?

Philips procurement is undergoing a transformation to accelerate growth and improve performance. For this important program we are looking for interns with a strong analytical study backgrounds, who can stand their ground and want to be part of this important program in Philips. As an intern, you will work with the Procurement Risk team and will work directly with colleagues and managers in Procurement as well as in the businesses that are supported by the function’s work. Building on your academic background, innovative focus and your creative, hands on, entrepreneurial mindset you will contribute in achieving our ambition. We offer you a role with great responsibility in a corporate environment where you get the chance to accelerate your own development.

Your responsibilities

The future is uncertain, especially when predicting market price developments of commodities. At Procurement Risk we realize it is impossible to predict the future which is why we are aiming to set up a multi-scenario based outlook including the likelihood of these scenarios.

Philips procurement is implementing a new cost exposure risk tool. This tool creates transparency and visibility to our exposure towards cost drivers like raw materials, labor and currency within the Procurement commodity clusters. One of the key outcome of the exposure tool is determine the actual amount, timing and likelihood of future risk and or opportunities due to market price trends of these cost drivers.

We offer you to join our Procurement Risk team and take this tool to a higher maturity level in terms of accurate forecasting in order to support our businesses in good fact base decision-making. You will be adding value to the existing exposure tool - by bringing in mathematical solution based range bond scenarios as well as supporting to improve the existing solution (user interface, reporting, etc.)

Your main tasks will be:

  • Understand market price behavior of the main cost-drivers e.g. raw materials, labor and currency.

  • Setting up cross cost driver correlation analysis from historical market price data

  • Analyze and set up reliable range forecasts, either by prediction intervals or confidence intervals. These ranges consist of two points, representing the reasonable “best case” and “worst case” scenarios as well as a base case scenario.

  • Set up a forecasting approach that could provide both accuracy and information: one that will protect the forecaster from the known traps of overconfidence and biased forecasting, and provide an informative forecast that includes all plausible future scenarios as well as an assessment of how likely each one of them is.

  • Provide your creative inputs, insights and suggestions on improving the existing tool

  • Support the deployment and stakeholder meeting preparations

Your team

You will be part of the Philips Procurement Risk team, and cooperate closely with Commodity managers.

Our offer

We offer exposure in a strategic position in a very dynamic business. You will have the opportunity to shape and direct high impact business strategies. In addition, Philips offers you excellent career development possibilities.

  • It can be discussed to make this internship suitable for a thesis assignment

  • Duration: 5 months+ (depending on student availability)

  • We prefer students available as soon as possible, but no later than June 2017

  • Location: High Tech Campus, Eindhoven

Internship conditions:

  • Students on work placement or final-year study assignment are paid a work placement or final-year study assignment allowance.

  • A student on a work placement or final-year study assignment is paid an allowance towards rented accommodation, depending on his/her situation. This will be determined setting up the Intern Contract.

  • A student on work placement or final-year study assignment who can prove that he/she is not entitled to a student card for public transport (OV-studentenkaart) is paid an allowance to cover the cost of travel between home and the place of work in accordance with the Conditions of Employment Guideline.

  • The student is entitled to paid leave on the basis of 1 day per month.

  • Opportunity to buy Philips products with tax benefit (Philips MyShop)

We are looking for

To be successful in this internship we are looking for you:

Students currently studying towards your final-year Bachelor / Master of science (Msc.) specializing in:

  • Mathematics/Statistics/Econometrics

  • Education or experience in Procurement (strategy, risk, market intelligence) and or Treasury is a plus.

In addition, we are looking for someone with the following competences:

  • Strong analytical, statistics, problem solving skills combined with a strong business sense and a drive for business impact;

  • An open and globally oriented work mentality, combined with a true self-starting character which will contribute to the overall team;

  • Ability to manage and organize both your own work as well as projects;

  • Strong skills in excel

  • Knowledge of SQL database is a plus

  • Solid spoken and written English skills;

  • Good communication skills (verbal and writing)

  • Strong self-drive;

If you recognize yourself in this profile and would like to take this challenge, we invite you to apply!

Notes

Required documents in order for us to approve and continue with your application:

  • Student registration form (Proof of enrollment at your current education)

  • Resume

  • Cover Letter outlining your motivation and informing your availability

Requirements

  • Every intern at Philips has to be registered as a student during the entire internship period.

  • For students outside EU/EER: Please note that in order to be considered for an internship, it should be compulsory by your education.

  • You can only apply through our website; applications through email won’t be taken into the recruitment process.