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Job Summary
The Sourcing Manager is responsible for developing and executing sourcing strategies to secure cost-effective and high-quality goods and services for the organization. This role involves supplier identification, negotiation, contract management, and ensuring a reliable supply chain.
Key Responsibilities
1 . Supplier Identification and Evaluation
- Identify potential suppliers and conduct thorough assessments of their capabilities, financial stability, and performance history.
- Maintain a supplier database and keep it updated with relevant information.
2 . Sourcing Strategy Development
- Develop and implement sourcing strategies aligned with organizational goals, including cost reduction, quality improvement, and supplier diversification.
- Analyze market trends and conditions to make informed sourcing decisions.
3 . Negotiation and Contract Management
- Negotiate contracts, terms, and conditions with suppliers to secure favorable pricing, quality, and delivery terms.
- Develop and maintain strong relationships with key suppliers.
- Ensure compliance with contract terms and monitor supplier performance.
4 . Cost Management
- Continuously seek opportunities to optimize costs and improve the efficiency of the sourcing process.
- Collaborate with cross-functional teams to identify cost-saving initiatives.
5 . Supplier Relationship Management
- Collaborate with suppliers to improve product quality, delivery reliability, and innovation.
- Resolve supplier-related issues and disputes promptly.
6 . Risk Management
- Identify and mitigate potential risks within the supply chain, including supply disruptions, quality issues, and geopolitical factors.
- Develop and implement risk mitigation plans.
7 . Market Research and Benchmarking
- Stay up-to-date with industry trends and best practices in sourcing and procurement.
- Conduct benchmarking exercises to compare the organization’s sourcing practices with industry standards.
8 . Data Analysis and Reporting
- Collect and analyze data related to supplier performance, cost savings, and procurement metrics.
- Generate reports to track key performance indicators (KPIs) and communicate findings to senior management.
9 . Compliance and Ethics
- Ensure sourcing activities adhere to relevant laws, regulations, and ethical standards.
- Implement and enforce ethical sourcing practices.
Qualifications
- Bachelor’s degree in supply chain management, business, or a related field (Master’s degree preferred).
- Proven experience in sourcing, procurement, or supply chain management, with a minimum of X years in a leadership role.
- Strong negotiation and contract management skills.
- Proficiency in using procurement software and tools.
- Excellent communication, interpersonal, and problem-solving skills.
- Knowledge of supply chain best practices, market trends, and industry regulations.
Preferred Skills
- Certification in procurement or supply chain management (e.g., CPSM, CSCP, or equivalent).
- Experience with global sourcing and international supply chains.
- Familiarity with sustainability and responsible sourcing practices.