The primary responsibility of the Strategic Sourcing Manager is to maximize value for the Company by reducing raw material and manufacturing supply expenditures, ensuring internal stakeholders receive products in a timely manner to maintain business continuity. Externally, this role is responsible for developing, maintaining, and implementing best-in-class strategic sourcing strategies, and building strong partnerships with strategic vendors. Internally, the Manager will act as the coordinator among the different business units, subsidiaries, and suppliers for current and future initiatives.
Responsible for maintaining a key focus on planning, forecasting, developing, and implementing initiatives that will support the growth of the organization and ensure sourcing strategies align with Company’s business objectives.
Principal Duties and Responsibilities
· Hire, train and manage procurement department employees.
· Collaborate internally to identify and pursue new suppliers or vendors’ opportunities and conduct market research, cost estimates, and forecasts.
· Evaluate sourcing procedures and present potential improvement strategies to senior management for review and, ultimately, approval.
· Manage a portfolio of spend categories, working proactively with cross-functional internal stakeholders.
· Continually identify & implement short- and long-term procurement strategies designed to reduce costs and improve quality/service.
· Employ best-in-class strategic sourcing techniques to optimize spend through formal competitive processes (e.g. RFP, RFQ, reverse auction, bids, etc.)
· Lead negotiations with key suppliers on agreements for materials and/or services.
· Analyze the turnover and utilization of inventory assets: drive/track P&L efficiencies.
Process and Control Improvement:
· Collaborate with R&D, Product Development Team, Chief Innovation Officer and pursue new supplier opportunities.
· Identify new technologies and solutions to support and scale the business.
· Develop and manage internal policies and processes to support organization and ensure adherence to internal policies covering the procurement of goods and services.
· Assist with design, implementation, and utilization of a contract compliance process.
· Define company’s benchmarking practices to identify potential opportunities more accurately.
· Develop and foster strategic partnerships with key suppliers global or domestic.
· Negotiate contracts with key suppliers, including costs and terms of supply, service, and quality.
· Manage supply base to ensure supply continuity, service, and quality.
· Leverage significant, relevant experience and analytical skills by sourcing direct goods relating to Company’s operations, while managing sourcing processes within a cross-functional framework for the various stakeholders across the business.
· Monitor/measure supplier service levels and resolve any performance issues.
· Monitor results against established procurement metrics (e.g. cost savings, vendor performance, vendor compliance and user satisfaction) and lead the development and execution of corrective action with non-compliant vendors and internal operating groups.
Knowledge, Skills and Abilities Required:
· Bachelor’s Degree required, preferred fields of study include, but not limited to, Supply Chain Management, Business Administration, Purchasing Management
· 7 years of experience in sourcing & procurement in a manufacturing environment to include proven experience in optimizing an organization’s supply base and improving overall value proposition.
· Supervisory experience preferred, preferably in a similar manufacturing or inventory management environment.
· Supply Chain Certificate and/or APICS Certification preferred.
· Must be in tune with the demand of product and be able to adjust to that demand.
· Understand market pricing and how it affects market trends.
· Experience in implementing best-in-class strategic sourcing processes.
· Expertise in contract negotiation and competitive process management.
· Skilled in sourcing, negotiation, market/product/supplier analysis and contract formulation.
· Exemplary leadership, communication, collaboration, and problem-solving capabilities.
· Strong organizational and time management skills.
· Exceptional analytical and strategic thinking abilities.
· Willing to travel to develop, promote and maintain sourcing relationships. Travel up to 25% of the time.