Strategic Sourcing Analyst Senior-
3 weeks ago
Under limited direction, this position supports developing and executing sourcing strategies for Advocate Health (may include supplies, pharmaceuticals, services, or capital), leveraging best practices, identifying cost containment opportunities, and standardizing products. Ensuring purchasing strategies support Advocate Health's strategic plan, mitigate risk, maximize efficiency, and achieve cost, quality, and service delivery goals. Supporting the functional team strategy to enterprise strategy.
Primary Functions- Cost Optimization: Supports and executes cost-saving opportunities through comprehensive analysis of utilization, pricing, and contracting. Collaboratively works with sourcing leaders and others to enable favorable negotiations on pricing, terms, and conditions with suppliers. Aids in cost containment strategies, such as standardization, utilization controls, and value-based purchasing. Assists in the attainment of maximum savings in total delivered cost of supplies, pharmaceuticals, services, and equipment in assigned categories.
- Strategy Development: supports strategic sourcing best practices for enterprise across assigned categories. Supports sourcing strategies such as analyzing market fundamentals, industry data, price benchmarks, cost drivers and trends, key cost variances, and economic forecasting in assigned categories. Categorizes and analyzes spend categories and assesses market and sourcing options to prioritizing areas for maximizing value and cost synergies.
- Sourcing Process Management: assist with the end-to-end sourcing process, including supplier identification, qualification, selection, negotiation, and contracting. Ensure compliance with relevant policies, procedures, and regulations. Assist in strategies to bring non-contracted products and services under contract, assuring best contract coverage for assigned categories. Consults with Legal on contractual issues concerning proper legal terms and conditions. Ensuring all other relevant departments' evaluations of contracts are triggered (IT, Data Security, etc.) which can vary by contract type
- Supplier Relationship Management: Supports strong relationships with suppliers and supports supply chain-supplier relationships in assigned categories. Monitor supplier performance, support supplier evaluations, and drive continuous improvement initiatives. Collaborate with cross-functional teams to address supplier-related issues and ensure timely resolution.
- Cross-functional Collaboration: Work closely with sourcing leaders and other relevant stakeholders to understand their needs and priorities. Support and aid in effective communication channels and engagement strategies to foster collaboration and support decision-making processes.
- Clinical Integration: Collaborate with sourcing leadership to ensure the seamless integration of value analysis. Support educational programs and materials to promote awareness and adoption of value-based approaches throughout enterprise.
- Data Analysis and Reporting: Assist in production of metrics and performance indicators to measure the impact of strategic sourcing initiatives on cost savings, quality improvement, and patient outcomes. Work with Sourcing Leadership and Analytics partners to analyze data to identify trends, monitor progress, and generate actionable insights. Prepare regular reports and presentations for leadership, highlighting key findings, achievements, and recommendations.
- Team Leadership: Serves as role model and mentor to Analyst, including developing and maintaining training documents for supply chain processes as defined by sourcing leaders. Assists with training as needed.
- Continuous Improvement: Stay updated on industry trends, emerging technologies, and best practices. Supports a culture of continuous improvement, leveraging data analytics, technology tools, and industry collaborations to enhance the strategic sourcing process and drive ongoing improvement in patient care delivery.
- Risk Management: Supports risk mitigation associated with the sourcing process, including supply chain disruptions, quality issues, regulatory compliance, and geopolitical factors related to assigned categories. Aids in contingency plans to minimize potential impact on the organization.
- Assists in developing Requests for Proposal (RFP), Request for Information (RFI), and Invitations for Bid (IFB) in accordance with directives and program requirement
Education/Experience:
Bachelor's degree or equivalent Knowledge in field of study; 5 years demonstrated, progressive work experience in required field.
Corporate and Human Resource Service Lines experience prefer, strong contracting skills to include development of Statement of Works and negotiating terms using track changes function in Word.
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