Strategic sourcing managers analyze and direct procurement expenditure. They source strategic supply partners, develop sourcing policies, and create cost estimates and forecasts. They also negotiate fair and cost-effective supply contracts.
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Strategic Sourcing Manager Job Description Template
We are seeking a resourceful strategic sourcing manager to develop and implement improved strategic sourcing policies. You will be creating cost estimates and forecasts, negotiating cost-effective contracts with key suppliers, and overseeing our sourcing team.
To ensure success as a strategic sourcing manager, you should demonstrate sound knowledge of negotiation strategies and extensive experience in a similar role. An accomplished strategic sourcing manager will be someone whose expertise translates into higher profit margins and a competitive advantage.
Strategic Sourcing Manager Responsibilities:
- Evaluating sourcing procedures and presenting improvement strategies to senior management for approval.
- Analyzing and calculating procurement costs and developing cost reduction strategies.
- Driving purchasing decisions based on cost and scenario analysis, as well as market trends.
- Negotiating contracts with key suppliers, including costs and terms of supply, service, and quality.
- Collaborating with the procurement department to identify and pursue new supplier opportunities.
- Conducting market research, as well as creating cost estimates and forecasts.
- Hiring, training, and managing procurement department employees.
- Estimating risks and applying risk minimizing techniques, as well as negotiating contracts that comply with industry regulations.
- Maintaining strategic sourcing relationships and developing strong partnerships.
Strategic Sourcing Manager Requirements:
- Bachelor's degree in business, economics, finance, logistics, or in a related field.
- A Master's degree in business or specialization in advanced procurement management will be advantageous.
- At least four years' procurement experience in a related industry.
- Proficiency in sourcing software, such Fraxion Spend Management and Promena e-Sourcing.
- Superb leadership and communication skills.
- Advanced ability to collaborate and negotiate.
- Excellent organizational and time management skills.
- Exceptional analytical and strategic thinking abilities.
- Willingness to travel to develop, promote, and maintain strategic sourcing relationships.
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