Strategic Sourcing Analyst Job Description

strategic sourcing analyst job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Strategic Sourcing Analyst Job Description

A strategic sourcing analyst is a procurement professional whose job it is to analyze a company’s current purchasing activity and procedures in order to propose changes in the company’s purchasing to improve productivity and efficiency while reducing costs.

Strategic sourcing analysts typically start out as procurement assistants and progress to purchasing management positions at companies that perform large-volume purchases on a regular basis.

As purchasing managers, strategic sourcing analysts oversee purchasing staff, as well as work with department heads, finance, and human resources personnel to improve the company’s performance.

Strategic sourcing analysts may specialize in purchasing, purchasing management and supply chain procurement, and may also gain expertise in supply chain management.

Job Brief:

We’re looking for a Strategic Sourcing Analyst to support our Procurement team. The right candidate will have a strong analytical background and be able to support the team in a fast-paced environment.

Strategic Sourcing Analyst Duties:

  • Develop and maintain relationships with suppliers, manufacturers, and distributors
  • Research current market conditions relevant to supply chain
  • Assist in sourcing and negotiation of contracts
  • Create and implement strategies to optimize logistics
  • Develop and maintain comprehensive supplier database
  • Analyze market trends, identifying profitable growth/possibilities
  • Develop reports, spreadsheets, and presentations with required data
  • Identify source selection, bid evaluation, and supply chain management best practices

Strategic Sourcing Analyst Responsibilities:

  • Create and maintain strategic sourcing plans, including category management, supplier relationship management, and raw materials sourcing
  • Plan and coordinate sourcing, supplier negotiation, and sourcing events
  • Develop and implement sourcing strategies and action plans
  • Perform product research to identify and develop industry relationships
  • Develop and maintain close working relationships with suppliers
  • Assist with supplier selection, including product evaluation, due diligence, supplier visits, and supplier qualification
  • Perform cost/benefit analysis, develop and propose new sourcing strategies, and negotiate with suppliers
  • Support strategic sourcing activities, including supplier negotiations, supplier development, and supplier relationships
  • Engage with business relationships on strategic sourcing issues

Requirements And Skills:

  • Proven MBA degree (Masters, Bachelors, or Associates)
  • 2+ years of procurement or supply chain experience, including responsibility for strategic sourcing
  • Capable of managing diverse vendors, suppliers, and partners
  • Knowledge of purchasing and contract

[Company Name] is proud to be an Equal Opportunity Employer. We believe that a diverse and inclusive team is essential to our success. We encourage applications from people of all races, religions, national origins, genders, gender expressions, and ages. We also welcome applications from veterans and individuals with disabilities.

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