Senior Buyer

THE COMPANY:

Formulated Solutions is redefining the Pharmaceutical and Self-Directed Consumer Healthcare CDMO experience through creativity and invention; delivering our world class Marketing Partners unmatched formulations, innovative packaging and cost effective, reliable supply.

Formulated Solutions is and shall always be a company of people with the knowledge and dedication to provide our Marketing Partners with a single source solution for delivering quality and innovative products to market. We shall embrace changes and new opportunities as a vehicle to continually develop and grow sustainable relationships. As a company we shall never accept anything less than a culture that fosters creativity, growth, and profitability for both our Partners and the company.

PRIMARY PURPOSE:

The Senior Buyer will play a vital role in the procurement process by sourcing, negotiating, and purchasing goods and services for our organization. The Senior Buyer will provide leadership and guidance to the other buyers on the team. Communication and collaboration with internal stakeholders, such as the Supply Chain, Finance and Production is essential to ensure timely and accurate delivery of goods and services.

MAJOR DUTIES AND RESPONSIBILITIES:

• Issue purchase orders and communicate performance expectations and general requirements to suppliers in accordance with our purchasing control process.
• Manage and maintain relationships with existing suppliers, monitoring their performance and addressing any issues that may arise.
• Manage timely execution of MRP actions to ensure uninterrupted supply of materials.
• Resolve or escalate issues that impact delivery dates.
• Implement efficient inventory control processes to minimize waste and optimize stock levels.
• Monitor inventory levels and costs to ensure that there is an adequate supply of raw materials and supplies to meet production demands.
• Calculate & monitor supply chain key performance indicators, participate in root cause analysis, support action plans, and strive for continuous improvement.
• Expected KPIs - Supplier on-time delivery rate and value of late PO dollars.
• Identify cost savings opportunities to contribute to PPV target.
• Participate in Engineering Change Order review, approval, and implementation of material phase-in and phase-out.
• Troubleshoot transactional records to resolve inventory discrepancies and manufacturing variances.
• Highlight data integrity issues for master data elements which drive production and MRP (safety stock, cycle times, BOM accuracy, effectivity dates).
• Communicate inventory and supply chain concerns to facilitate timely actions for inventory adjustments.
• Communicate supplier requirements to Internal Stakeholders regarding cost changes and any changes in availability (Lead-Time).
• Work closely with internal stakeholders, including Sales, Engineering, Production, Quality and Logistics, to ensure timely and efficient flow of materials and services.
• Acts as a resource in weekly customer service calls and vendor calls as needed.
• Completes other duties as dictated by business needs.

QUALIFICATIONS:

Required

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field (preferred).
• 4+ years of relevant experience in Supply Chain or Business Administration
• Knowledge of MRP and MPS systems (NetSuite preferred)
• Strong analytical skills
• Ability to structure and perform data analysis.
• Proficient with Microsoft Office suite
• Effective verbal, written, and presentation skills.
• CPM, APICS, CPIM certification preferred.
• Experience in contract manufacturing or biopharma.
• Knowledge of FDA regulations and Lean manufacturing
• Proficiency in MS Excel
• Knowledge of supply chain best practices, demand forecasting techniques, and inventory optimization strategies.
• Strong analytical and problem-solving skills with the ability to interpret and manipulate data to drive actionable insights.