Director, Strategic Sourcing
About the role:
The Director of Strategic Sourcing will lead the development & implementation of strategic sourcing strategies, provide leadership & develop high performing teams ensuring the best in class quality, costs, and services.
This role will be a commercial leadership role to develop the long-term global sourcing roadmap. This individual should be highly skilled in negotiations, with strong analytics background and a problem-solving mindset. This individual will also develop new or re-assess existing processes, supplier onboarding materials, policies that are central to strategic sourcing including category management, spend analytics, supplier performance/relationship management, supplier qualification, risk mitigation, contracts management as well as dashboards to measure internal performance and value-add.
This position will have high visibility across the organization, he/she must be comfortable and adept in communicating with senior leaders and executive management.
About the team:
This role will be part of the Product and Supply Chain team that includes engineering, global sourcing, Asia operations, supply chain, performance excellence, and logistics. The primary responsibilities of this team include engineering development, identifying the right sources of supply, full supply chain, delivering best in class cost & quality, cost savings and execution of new products.
This team collaborates very closely with the cross-functional teams across the organization to deliver overall business results.
What you will do:
- Lead to develop and implement key strategic sourcing strategies/initiatives to optimize supply base.
- Leads the exercise to evaluate supplier capabilities with respect to TPC expectations and recommends best-suited suppliers.
- General Contract Negotiations, product supply agreements, pricing agreements etc. to incorporate favorable terms and conditions to achieve the best quality while supporting product price and delivery objectives.
- Drive sourcing activities to support NPD and conduct supplier base evaluation for new and future innovations.
- Pricing negotiations will be conducted by this position. This includes payment terms, tooling costs, and FOB points. This position must ensure that there is competitive pricing on all items.
- Constantly evaluate the regions for product supply globally with the idea to provide best in class cost, service, and quality.
- Lead and or participate in initiatives to drive continuous improvements in cost management, re-sourcing initiatives, cross-functional and/or departmental processes/procedures/work instructions and cost reduction initiatives.
- Strong communication and problem-solving skills.
- Develop and maintain a high-performance team that professionally manages supplier relationships and category visions& objectives. Direct management and matrix reporting of resources.
- Implement appropriate risk management strategies to minimize product supply risks.
- Set target goals for the department on cost savings KPI to be met on an annual basis.
- Manage vendor relationships and product supply base.
Skills you will need:
- BS/BA in Engineering/materials or Business Administration, or related field required. MBA a plus
- 7-10 years of Sourcing experience of components and finished goods in a fast paced corporate environment including experience with both domestic and international Suppliers.
- 3 to 5 years of managerial experience required.
- Professional certification preferred but not necessary (e.g., Institute of Supply Management – CPSM, Next Level Purchasing – SPSM)
- Strong negotiations skills and demonstrated ability to generate large cost reduction savings on stakeholder required quality level of services.
- Experience with Commodity Risk Management and large contract negotiation
- Strong leadership and communication skills.
- Strong analytical skills, problem solving abilities, and keen detail orientation are critical. Capable of taking data, sorting relevant facts, and providing solutions
- Negotiation and Supplier management skills required with an emphasis on international protocol preferred.
- Strong project management skills required along with the ability to effectively manage multiple projects and staff while supporting frequently changing priorities.
- Domestic and international travel will be required.
Measures of success:
- Develop and implement global sourcing strategy that delivers best in class cost and quality.
- Development and execution of New Product Solutions – On time and On cost.
- Deliver agreed cost savings on annualized basis.
- Fill Rates – Ensure suppliers ship products on time.