Strategic Sourcing Professional

Description

Position Summary: 

The Strategic Buyer will play a critical role in driving value through the strategic sourcing of materials, services, and suppliers. This position requires a proactive individual with strong negotiation skills, analytical expertise, and a keen understanding of market trends to ensure optimal cost, quality, and supply chain efficiency. Working closely with cross-functional teams, the Strategic Buyer will develop, implement, and maintain sourcing strategies to meet both short- and long-term organizational goals. 

Reports to: Supply Chain Manager. This position has 2-3 direct reports 

Key Responsibilities 

• Strategic Sourcing and Supplier Management 
• Develop and implement sourcing strategies for critical materials and services, focusing on cost, quality, and delivery. 
• Build and maintain strong relationships with key suppliers to ensure alignment with organizational goals and foster continuous improvement. 
• Conduct regular performance evaluations of suppliers based on key performance indicators (KPIs), including cost, quality, and on-time delivery, and report findings to the Supply Chain Manager. 

• Inventory Optimization and Demand Forecasting 
• Utilize advanced data analysis to assess actual and projected demand, recommending optimal inventory levels and safety stock to meet both manufacturing and customer requirements. 
• Optimize inventory turns by analyzing supplier performance and lead times and adjusting safety stock levels as necessary to avoid shortages and reduce excess inventory. 

• Cost Management 
• Develop and implement cost reduction strategies that align with the organization’s objectives. 
• Track and report on cost reduction initiatives, providing regular updates to leadership. 
• Work closely with cross-functional teams (e.g., engineering, quality, finance, operations) to ensure successful implementation of cost reduction measures. 
• Provide training and support to staff on cost-saving practices. 
• Ensure compliance with industry regulations and organizational standards during cost-reduction initiatives. 

• Negotiation and Contract Management 
• Lead contract negotiations for pricing, terms, and service agreements, ensuring optimal value and compliance with company policies. 
• Develop long-term agreements with key suppliers, focusing on cost savings, supplier reliability, and flexibility to meet changing market demands. 

• Problem Solving and Risk Management 
• Proactively identify and resolve material shortages and supply chain disruptions by collaborating with internal departments and suppliers. 
• Develop contingency plans and conduct root cause analysis for recurring issues, implementing corrective actions to mitigate future risks. 

• Data-Driven Decision Making and Reporting 
• Create and share regular reports on inventory status, supplier performance, past-due orders, and material availability to provide actionable insights to the Supply Chain team and other stakeholders. 
• Use data mining and analytics tools to identify trends and recommend purchasing strategies that align with organizational goals. 

• Continuous Improvement Initiatives 
• Drive continuous improvement projects within the procurement process, identifying opportunities to enhance efficiency, reduce costs, and streamline workflows. 
• Collaborate with engineering, production, and quality teams to support supplier process improvements and to ensure materials meet quality and production standards. 

• Cross-Functional Collaboration and Communication 
• Work closely with the Planner/Scheduler and other departments to ensure supply aligns with production schedules and customer demand. 
• Maintain effective communication with key stakeholders to share critical updates, such as material shortages, safety stock levels, and supplier performance. 

Requirements

Requirements: 

• Education: Bachelor’s degree in Supply Chain Management, Business Administration, or related field; a Master's degree or relevant certification (e.g., CPSM, CIPS) is a plus. 
• Experience: 
• Minimum of 5 years of experience in procurement, strategic sourcing, or supply chain management. 
• Proven track record in supplier negotiations, contract management, and cost-saving initiatives. 
• Skills & Competencies: 
• Strong negotiat