Procurement Career Paths

Job Title: Sourcing Manager

Location: [Insert location]

Reports to: [Insert name and title of supervisor]

A sourcing manager is responsible for a company’s strategic supply partners and managing and maintaining supplier relationships. They develop sourcing policies and strategies for the company.

Key Responsibilities: 

• Managing the company supply portfolio and ensuring spending transparency.
• Create and implement effective and efficient sourcing and category management strategies.
• Analyze and calculate sourcing and procurement costs and find ways to decrease spend.
• Create negotiation strategies and find profitable deals.
• Find ways to optimize sourcing procedures.
• Cooperate and collaborate with stakeholders to guarantee compliance with terms and processes.
• Research and anticipate negotiation strategies and positions of various suppliers.
• Exercise cost and scenario analysis along with benchmarking.
• Anticipate risks and find ways to minimize or avoid them.

KPIs for this role

• Cost Savings: Money saved through sourcing initiatives.
• Supplier Performance: Quality of supplier performance based on company criteria.
• Supplier Diversity: The number and percentage of diverse suppliers in the supply chain.
• Sourcing Cycle Time: Average amount of time to complete the sourcing process.
• Spend Under Management: Percentage of total spend which is managed and controlled by the sourcing team.
• Contract Compliance: The extent of supplier compliance to company standards.
• Sourcing ROI: The impact of sourcing initiatives on the organization’s bottom line.
• Supplier Risk Management: Evaluation of risks in sourcing processes and strategies and the management of these risks.
• Supplier Relationship Management: The management and maintenance of positive supplier relationships.

Key Skills and Qualifications: 

• Bachelor’s or Master’s Degree in supply chain management, logistics,  business administration, or related field.
• Proven work experience as a Sourcing Manager, Procurement Manager, or similar position for at least 3 years or above.
• Familiar with sourcing and vendor management software and willing to learn new software if necessary.
• An understanding of market dynamics and an ability to make well-thought-out business judgments.
• Strong project management and leadership skills.
• Good negotiation skills and networking ability.
• Capable of collecting, analyzing, and interpreting data.

• Managing the company supply portfolio and ensuring spending transparency.
• Create and implement effective and efficient sourcing and category management strategies.
• Analyze and calculate sourcing and procurement costs and find ways to decrease spend.
• Create negotiation strategies and find profitable deals.
• Find ways to optimize sourcing procedures.
• Cooperate and collaborate with stakeholders to guarantee compliance with terms and processes.
• Research and anticipate negotiation strategies and positions of various suppliers.
• Exercise cost and scenario analysis along with benchmarking.
• Anticipate risks and find ways to minimize or avoid them.

• Procurement: A strong understanding of principles in procurement, sourcing strategies, supplier selection, etc. to manage the sourcing process efficiently while minimizing cost.
• Collaboration: Can collaborate with various teams or persons to meet business goals.
• Innovation: Ability to identify new sourcing opportunities, explore alternative suppliers or materials, and create and implement effective sourcing strategies.
• Contract Management: Effectively manage and negotiate contracts with suppliers.
• Communication Skills: Effective verbal and written communication skills.
• Analysis: Analysis of data for the making of informed decisions.
• Vendor Management: The management and maintenance of supplier relationships.
• Technical Skills: Proficiency in sourcing software and ability to efficiently and effectively learn new software if necessary.

• Cost Savings: Money saved through sourcing initiatives.
• Supplier Performance: Quality of supplier performance based on company criteria.
• Supplier Diversity: The number and percentage of diverse suppliers in the supply chain.
• Sourcing Cycle Time: Average amount of time to complete the sourcing process.
• Spend Under Management: Percentage of total spend which is managed and controlled by the sourcing team.
• Contract Compliance: The extent of supplier compliance to company standards.
• Sourcing ROI: The impact of sourcing initiatives on the organization’s bottom line.
• Supplier Risk Management: Evaluation of risks in sourcing processes and strategies and the management of these risks.
• Supplier Relationship Management: The management and maintenance of positive supplier relationships.