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Director of Strategic Sourcing and Value Analysis

1 month ago

Richmond, United States VCU Health Full time

The Director, Strategic Sourcing and Value Analysis oversees day to day contracting activities such as the monitoring of contract performance, the development, evaluation and management of vendor relationships, the drafting and negotiating of contracts, the building of relationships with clinical and operational stakeholders, as well as the implementation and monitoring of contracts. In addition, in collaboration with other Supply Chain and Procurement teams, the Director, Strategic Sourcing and Value Analysis oversees benchmarking activities, reviewing of industry best practice and other initiatives to achieve cost savings and increase quality. The process of leading and developing a contract portfolio for clinical service lines should align with sourcing high quality products at an effective cost and focusing on supply chain excellence. The Director, Strategic Sourcing and Value Analysis facilitates the system-wide value analysis process that evaluates product selection based on evidence based clinical outcomes, quality, service, and reimbursement and analyzes product function and cost. This role is tasked with reducing supply chain costs across the clinical spend landscape in conjunction with multi-disciplinary teams. This Director publishes a regular cadence of reporting and metrics to the organization as well as ad-hoc requests by system leadership, and ensures all policies and procedures in scope are aligned with VCUHS mission and vision, and strategic goals.


Essential Job functions

  • Ability to develop and execute against a contract strategy to support clinical and non-clinical program development; this includes scanning the market and proactively identifying contract opportunities
  • Acts as central point of contact for all system supply chain contractual functions, while maintaining knowledge of local hospitals’ operations and initiatives; leads effective system-wide supply chain contracting efforts.
  • Implements tactics to meet annual goals and monitors performance of savings initiatives and goals, executes against improvement plans to increase contract value and supplier performance. Works with hospital and clinical team members to manage to KPI’s and identify remediating actions early when contractual performance is not meeting goals.
  • Collaborates with the management team from Finance and Information Technology to ensure the development, and maintenance of policies which promote system integration and are consistent with the strategic direction of the Health System.
  • Ability to perform and leverage analytics to inform sourcing/contracting strategies (e.g., benchmarking, industry/market analysis, spend analysis, contribution margin analysis, cost/benefit analysis)
  • Leverages a regular cadence to communicate value analysis team priorities and decisions to the healthcare system including but not limited to system-wide product conversions, standardization efforts, and utilization targets.
  • Leads the Value Analysis Team in their pursuit of annual savings targets, including the preparation of materials required to effectively make decisions as well as subsequent analyses and reporting to ensure realization of goals.
  • Facilitates consensus among clinical stakeholders; determine / resolve barriers.
  • Supports a sustainable value analysis process that drives system supply chain savings while maintaining or improving quality, clinical outcomes, safety, and end-user satisfaction.
  • Provides leadership and direction to the Value Analysis and Strategic Sourcing Teams, as well as representing these groups within management- and executive-level steering committees.
  • Reviews clinical spend landscapes, savings reports, and all available data to identify cost reduction opportunities based on best practice, clinical and financial goals.
  • Proactively communicates with system leadership to strategically develop a schedule (pipeline) for Sourcing and Value Analysis initiatives, complete with requirements, desired outcomes, and the formation of initiative teams.
  • Ensures that all internal/external stakeholders are aware of contractual awards and decisions via internal reporting formats and communications.
  • Maintains adequate staffing to meet VCUHS business objectives by recruiting, selecting, orienting, and training employees; maintaining a visible commitment to diversity, equity and inclusion initiatives.


Required Qualifications:

  • Bachelor's Degree in Business, Supply Chain Management, or related field.
  • Ten (10) years of Supply Chain Experience including five (5) years health care strategic sourcing management experience
  • Ability to work autonomously towards defined goals.
  • Support the department in ERP optimization, data integrity, and Item Master, Vendor Master management and maintenance.
  • Develop metrics for measuring the effectiveness of the purchasing and analytics department operations.
  • Drive the purchasing department towards automation, reducing non-value-added work, less transactional
  • Serve as subject matter expert and liaison to VCU-HCS leadership as well as Supply Chain leadership regarding day-to-day operations in the procure-to-pay process and reporting capabilities.
  • Benchmark and research analysis/reporting, including monitoring and reporting on procurement transactional data.
  • Complete clinical product cross matches.
  • Identify utilization and waste reduction opportunities.


Preferred Qualifications:

  • Master’s Degree in Business, Supply Chain Management, or related field.
  • Diversity Equity and Inclusion certification


Cultural Responsiveness:

Demonstrates a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.