Are you an analytical problem-solver with a passion for supply chain management? Then this Strategic Sourcing Analyst Job Description might be the perfect fit for you! As a Strategic Sourcing Analyst, you’ll be responsible for finding the most cost-effective and efficient ways to obtain goods and services for an organization.
Your duties will range from conducting market research and data analysis, to negotiating contracts and building relationships with suppliers. You’ll also play a crucial role in reducing expenses, improving quality and ensuring compliance with company policies. A strategic mind and strong communication skills are essential for success in this dynamic and fast-paced role.
Duties and Responsibilities of a Strategic Sourcing Analyst
- The primary duty of a strategic sourcing analyst is to develop and implement procurement strategies that align with the organization’s business needs and objectives.
- This includes researching and evaluating potential suppliers, negotiating contracts, and assessing supplier performance. Other duties of a strategic sourcing analyst include:
- Creating RFQs (requests for proposal) and RFPs (requests for quotation)
- Analyzing spend data to identify cost-saving opportunities
- developing KPI metrics to measure supplier performance
- Monitoring market trends to identify new procurement opportunities
Skills and Qualifications Needed To Become a Strategic Sourcing Analyst
- To be successful in this role, you will need excellent analytical, problem-solving, and communication skills. You should also be detail oriented and able to work independently.
- Other skills and qualifications needed for the job include:
- Bachelor’s degree in business administration, supply chain management, or related field
- 3-5 years of experience working in procurement or supply chain management
- Strong understanding of purchasing processes
- Experience with procurement software (e.g., SAP Ariba, Coupé)
Salary Expectations For a Strategic Sourcing Analyst
- Salaries for strategic sourcing analysts vary depending on experience level, geographical location, and size of employer.
- Glassdoor reports that the average base salary for a strategic sourcing analyst in the United States is $78,148 per year.
- Pay scale reports that salaries range from $50,000 to $85,000 per year.
Strategic Sourcing Analyst Job Description
We are a leading provider of technology solutions. We work with some of the world’s largest organizations to help them solve complex business challenges.
Job Description:
The Strategic Sourcing Analyst will be responsible for supporting the procurement team in all aspects of the sourcing process. This includes but is not limited to conducting market research, identifying and evaluating potential suppliers, negotiating contracts, and managing supplier relationships. In addition, the Strategic Sourcing Analyst will also be responsible for maintaining accurate records of all sourcing activities and communicating updates to relevant stakeholders.
The Successful Applicant:
- At least 2 years of experience in a similar role
- Strong analytical and problem-solving skills
- Excellent communication and negotiation skills
- Ability to work independently as well as part of a team
- Proficient in Microsoft Office applications (Word, Excel, PowerPoint) and Google Sheets/Docs
Offer Details:
- Competitive salary based on experience
- Generous benefits package including health, dental, and vision insurance
- 401(k) with company match
- Paid time off
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Senior Strategic Sourcing Analyst Job Description
We are a leading provider of innovative software solutions. We are looking for a Strategic Sourcing Analyst to join our team. The role will be responsible for conducting strategic analyses to support the development and implementation of sourcing strategies that drive cost savings and improve supplier performance.
Job Description:
- Conduct spend analysis to identify opportunities for cost savings and process improvements
- Develop and implement sourcing strategies that align with business objectives
- Lead negotiations with suppliers to achieve optimal terms and conditions
- Manage supplier performance to ensure compliance with contractual obligations
- Prepare reports and presentations on sourcing activities for senior management
- Stay abreast of industry trends and developments to identify potential new sources of supply
The Successful Applicant:
- Bachelor’s degree in Business, Supply Chain Management, or related field required
- 5+ years of experience in strategic sourcing or procurement
- Strong analytical skills with the ability to collect, organize, analyze, and disseminate significant amounts of information with attention to detail and accuracy
- Excellent negotiation skills with the ability to influence others without formal authority
Offer Details:
- Salary is 75-85K + bonus (10%) + 401k match + full benefits.
- This role can be based anywhere in the US.
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Strategic Sourcing Analyst Job Description
We are a market leader in the development and manufacturing of innovative medical devices and We are looking for a Strategic Sourcing Analyst to join our team. This position will be based in their corporate offices near Raleigh, North Carolina. Our company offers a competitive salary and benefits package, as well as the opportunity to work with an industry leader.
Job Description:
The Strategic Sourcing Analyst will be responsible for supporting the Strategic Sourcing Manager in all aspects of the sourcing process. This includes but is not limited to supplier selection, contract negotiation, cost analysis, and project management. The Analyst will also be responsible for maintaining accurate records of all sourcing activities and communicating effectively with internal and external stakeholders.
The Successful Applicant:
- Bachelor’s degree in Business Administration or Supply Chain Management
- 3-5 years’ experience in strategic sourcing or procurement
- Strong analytical and problem solving skills
- Excellent communication skills (written & verbal)
- Proficient in Microsoft Office applications (Excel, Word, PowerPoint)
Offer Details:
- Competitive salary + bonus potential + benefits package!
Strategic Sourcing Analyst Job Description For resume
We are a leading provider of technology solutions. As we are committed to helping their customers succeed by providing innovative products and services. We are looking for a Strategic Sourcing Analyst to join our team.
Job Description:
- The Strategic Sourcing Analyst will be responsible for supporting the sourcing team in the development and execution of sourcing strategies.
- They will conduct market research, prepare RFPs, lead negotiations, and manage supplier relationships.
- The successful candidate will have a strong understanding of procurement processes and be able to work independently with minimal supervision.
The Successful Applicant:
- A minimum of 3 years’ experience in a similar role is required.
- Experience working in the technology industry is preferred.
- The ability to work independently with minimal supervision is essential.
- Strong analytical and problem solving skills are required.
- Excellent communication and negotiation skills are required.
Offer Details:
- Full benefits package including medical, dental, and vision coverage
- 401k with company match; competitive salary
- Flexible working hours; remote working options
Conclusion
In conclusion, the role of a Strategic Sourcing Analyst is crucial in ensuring the success of an organization’s procurement process. With a strong understanding of the market and a keen eye for cost savings opportunities, a Strategic Sourcing Analyst can help a company save time and money while still acquiring the best goods and services. The job requires a combination of technical, analytical, and interpersonal skills, making it an exciting and challenging position for those with a passion for procurement.
We hope this article has provided valuable insights into the Strategic Sourcing Analyst job description. If you have interest in pursuing this career path or want to learn more about other procurement roles, we invite you to visit our website for more job descriptions and information. Also, we would love to hear your thoughts and opinions on this role in the comments section below. Your feedback is always appreciated and helps us create better content for our readers.