Strategic Sourcing Analyst Job Description Template
The Strategic Sourcing Analyst will be responsible for conducting sourcing analysis to support the development and execution of procurement strategies. The role will involve evaluating supplier proposals, analyzing cost data, and supporting the negotiation of contracts. In addition, the analyst will be responsible for maintaining supplier performance metrics and conducting spend analysis.
Strategic Sourcing Analyst Job Responsibilities
- Conduct market research to identify potential suppliers of goods and services.
- Analyze supplier proposals, negotiating prices and terms of agreements.
- Develop and implement sourcing strategies in alignment with organizational goals.
- Monitor trends in the marketplace to identify new opportunities for cost savings or quality improvements.
- Manage supplier relationships to ensure adherence to contract terms and delivery of quality goods and services.
- collaborate with internal stakeholders to understand their needs and requirements.
- 7 prepare reports detailing sourcing activity, cost savings, and other KPIs
Objectives
- To develop and implement strategies for sourcing and procurement that support the company's business goals.
- To manage the sourcing and procurement process from start to finish, including supplier selection, negotiation, and contract management.
- To lead strategic sourcing projects and initiatives, such as developing new sourcing strategies, conducting spend analysis, or implementing category management programs.
- To build strong relationships with suppliers and internal customers, ensuring a high level of satisfaction with the company's procurement process and outcomes.
- To continuously seek out opportunities to improve the efficiency and effectiveness of the sourcing and procurement function.
Strategic Sourcing Analyst Job Skills & Qualifications Needed
- Strategic sourcing analysts typically need at least a bachelor's degree in business, supply chain management, or a related field. They must have strong analytical and research skills to identify costsaving opportunities and evaluate supplier proposals. Excellent communication and negotiation skills are also essential, as analysts often interact directly with suppliers.