Procurement Career Paths

Job Title: Procurement Analyst

Location: [Insert location]

Reports to: [Insert name and title of supervisor]

A strategic sourcing manager ensures strategic decision-making when it comes to sourcing. They evaluate purchasing decisions on supply, outsourcing, and procurement for the organization.

Key Responsibilities: 

• Creating and evaluating sourcing strategies and procedures and improving on them.
• Analysis and calculation of strategies for cost reduction.
• Using cost, analysis, scenario analysis, and market trends as the foundation of purchasing decisions.
• Contract negotiation with key suppliers.
• Collaborating with other departments, especially the procurement department for identification and pursuit of new supplier opportunities.
• Conducting market searches and creating cost estimates and forecasts.
• Hiring, training, and managing employees under the sourcing or procurement department.
• Risk estimation and using risk-minimizing techniques while also negotiating contracts that live up to industry standards.
• Maintaining supplier relationships and developing stronger partnerships with them.

KPIs for this role

• Purchase Order Cycle Time: Efficiency of trimming PO cycle time.
• Number of Purchase Orders Processed Electronically: The number of purchase orders processed electronically, as technology is increasingly a significant part of supply chain processes and keeps things less risky and more efficient.
• Average Cost of Processing a Purchase Order: The total cost of all tasks for the efficient completion of a process order.
• Total Cost of Ownership: The cost of each purchase for your company throughout its lifetime.
• Cost Avoidance Metrics: The rate at which cost is minimized or avoided.
• Spend Under Contract: The total spend made with company suppliers as per your contract agreement.
• Total Supply Chain Costs: The amount spent on supply chain processes.

Key Skills and Qualifications: 

• Bachelor’s Degree in business, economics, finance, logistics, or a related field.
• At least 5 years of experience in a related industry.
• Proficiency in sourcing software and willingness to learn new kinds.
• Excellent leadership and communication skills.
• Excellent collaboration and negotiation skills.
• Organizational and time management skills.
• Excellent analytical and strategic thinking abilities.

• Creating and evaluating sourcing strategies and procedures and improving on them.
• Analysis and calculation of strategies for cost reduction.
• Using cost, analysis, scenario analysis, and market trends as the foundation of purchasing decisions.
• Contract negotiation with key suppliers.
• Collaborating with other departments, especially the procurement department for identification and pursuit of new supplier opportunities.
• Conducting market searches and creating cost estimates and forecasts.
• Hiring, training, and managing employees under the sourcing or procurement department.
• Risk estimation and using risk-minimizing techniques while also negotiating contracts that live up to industry standards.
• Maintaining supplier relationships and developing stronger partnerships with them.

• Strategic thinking: Clear vision of sourcing strategies and their alignment to organizational goals and objectives.
• Communication and Collaboration: Strong communication and collaboration skills for the building and maintaining of positive relationships with internal and external stakeholders.
• Analytical and problem-solving skills: Strong analytical and problem-solving skills for dealing with complex sourcing scenarios.
• Technical and functional skills: Technical and functional knowledge and skills when it comes to sourcing, especially within their industry.
• Innovation and creativity: Have the innovation and creativity skills to find better ways of sourcing goods and services.
• Leadership and management: Ability to lead and manage a team in various kinds of sourcing projects.

• Purchase Order Cycle Time: Efficiency of trimming PO cycle time.
• Number of Purchase Orders Processed Electronically: The number of purchase orders processed electronically, as technology is increasingly a significant part of supply chain processes and keeps things less risky and more efficient.
• Average Cost of Processing a Purchase Order: The total cost of all tasks for the efficient completion of a process order.
• Total Cost of Ownership: The cost of each purchase for your company throughout its lifetime.
• Cost Avoidance Metrics: The rate at which cost is minimized or avoided.
• Spend Under Contract: The total spend made with company suppliers as per your contract agreement.
• Total Supply Chain Costs: The amount spent on supply chain processes.