Sourcing Manager Job Description Template
Use this Sourcing Manager job description template to advertise the open roles for free using Longlist.io. You can use this template as a starting point, modify the requirements according the needs of your organization or the client you are hiring for.
Job Brief
As a Sourcing Manager you will be responsible for handling the company’s end to end sourcing operations. The successful candidate will be able to appraise and improve our sourcing activities by analyzing the company’s spending, supplying partnerships and new possibilities.
Responsibilities
- Manage the company’s supply portfolio ensuring transparency of spending
- Generate and implement efficient sourcing and category management strategies
- Analyze and calculate costs of procurement and suggest methods to decrease expenditure
- Invent negotiation strategies and secure profitable deals
- Optimize sourcing procedures to attain maximum efficiency
- Cooperate with stakeholders to guarantee agreement on terms and processes
- Research and anticipate shifts in the negotiating power of suppliers
- Perform cost and scenario analysis, and benchmarking
- Estimate risks and apply risk minimizing techniques
- Discover and partner with trustworthy vendors and suppliers
- Determine quantity and timing of deliveries
Requirements
- Proven work experience as a Sourcing Manager or Procurement Manager
- Familiarity with sourcing and vendor management and relevant software
- Understanding of market dynamics and sound business judgement
- Strong project management and leadership skills
- Ability to negotiate and sustain networking relationships
- Comfortable with figures and in collecting, analyzing and interpreting data
- Solid judgement with ability to make good decisions
- BSc degree in supply chain management, logistics or business administration
What does Sourcing Manager do?
A Sourcing Manager is responsible for overseeing the procurement of goods and services required by a company. On a day-to-day basis, a Sourcing Manager typically performs the following tasks:
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Supplier identification and selection: Researching and identifying potential suppliers, evaluating their capabilities, and selecting the most suitable ones based on company needs.
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Negotiation: Negotiating contracts, pricing, terms, and conditions with suppliers to ensure favorable agreements for the company.
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Vendor management: Managing relationships with existing suppliers, conducting regular performance evaluations, and addressing any issues or disputes that may arise.
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Conducting market research: Monitoring market trends and staying updated with industry developments to identify new sourcing opportunities and potential cost savings.
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Request for proposals (RFP) management: Developing and issuing RFPs to solicit bids from suppliers, evaluating responses, and making recommendations based on the evaluations.
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Inventory management: Working with inventory planners to ensure adequate stock levels, minimizing excess inventory and stockouts by collaborating with suppliers.
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Supplier performance monitoring: Tracking and analyzing supplier performance metrics such as delivery timeliness, quality of goods/services, cost variations, and taking appropriate actions to address any shortcomings.
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Contract management: Overseeing the lifecycle of contracts, including contract initiation, negotiation, implementation, and renewal or termination as needed.
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Cost analysis: Analyzing pricing structures and conducting cost-benefit analysis to identify cost-saving opportunities and optimize the company's sourcing strategy.
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Collaborating with cross-functional teams: Working closely with internal teams such as operations, finance, quality assurance, and legal to ensure alignment on sourcing strategies, contract compliance, and vendor performance.
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Risk management: Identifying potential supply chain risks and developing contingency plans to mitigate any disruptions.
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Continuous improvement: Assessing and improving sourcing processes, implementing best practices, and staying updated with industry advancements to drive efficiency and cost-effectiveness.
Overall, a Sourcing Manager's role involves strategizing, developing, and implementing sourcing plans to ensure the company has a consistent supply of high-quality goods and services at competitive prices.