Job Title: Sourcing Specialist
Job Summary: The Sourcing Specialist plays a pivotal role in the procurement process by identifying, evaluating, and negotiating with suppliers to acquire goods and services essential for the organization's operations. The incumbent will collaborate closely with internal stakeholders to understand their requirements, source suitable suppliers, and ensure timely and cost-effective procurement of goods and services.
Key Responsibilities:
Supplier Identification and Evaluation:
- Conduct market research to identify potential suppliers.
- Evaluate suppliers based on criteria such as quality, cost, reliability, and capacity to meet the organization's needs.
- Maintain a database of qualified suppliers and regularly update supplier information.
Sourcing Strategy Development:
- Collaborate with internal stakeholders to understand their requirements and develop sourcing strategies aligned with organizational objectives.
- Identify opportunities for cost savings, process improvements, and supplier consolidation.
- Analyze market trends and industry developments to inform sourcing strategies.
Supplier Relationship Management:
- Build and maintain strong relationships with suppliers through effective communication and negotiation.
- Negotiate contracts, pricing, and terms with suppliers to ensure favorable terms for the organization.
- Monitor supplier performance and address any issues or concerns promptly.
Procurement Process Management:
- Coordinate the procurement process from requisition to delivery, ensuring compliance with organizational policies and procedures.
- Collaborate with internal departments such as finance, legal, and operations to streamline the procurement process.
- Monitor procurement metrics and KPIs to track performance and identify areas for improvement.
Risk Management:
- Identify and mitigate risks associated with the supply chain, such as supplier disruptions, quality issues, and geopolitical factors.
- Develop contingency plans to address potential supply chain disruptions and minimize their impact on operations.
Compliance and Ethics:
- Ensure compliance with relevant laws, regulations, and industry standards in all procurement activities.
- Uphold ethical standards and promote fair and transparent procurement practices.
Qualifications and Skills:
- Bachelor's degree in business administration, supply chain management, or related field. Master's degree preferred.
- Proven experience in procurement, sourcing, or supply chain management.
- Strong analytical skills and ability to make data-driven decisions.
- Excellent negotiation and communication skills.
- Proficiency in procurement software and MS Office Suite.
- Knowledge of sourcing best practices and industry trends.
- Ability to work independently and collaboratively in a fast-paced environment.
