Strategic Sourcing Specialist

Job DescriptionJob Description

SUMMARY: We are seeking a highly skilled and detail-oriented Sourcing Specialist to join our procurement team. The Sourcing Specialist will play a crucial role in identifying, evaluating, and acquiring goods and services from suppliers to meet the needs of our organization. This position requires strong negotiation skills, market analysis expertise, and the ability to forge strategic supplier relationships to optimize cost, quality, and delivery. Under minimum supervision, performs a variety of diversified accounting functions and purchasing for the entire organization according to established procedures or directed by their supervisor. Performs or oversees all activities related to purchasing.  This position maintains and assures compliance with company purchasing policies and procedures. Purchasing will review and approve material sources, quotes, bids and negotiate purchase agreements and other contracts. Oversees expediting of deliveries, processing of invoices and departments records.

RESPONSIBILITIES:

• Supplier Identification: Identify potential suppliers through market research and evaluation, considering factors such as cost, quality, reliability, and delivery capabilities.
• Negotiation: Conduct negotiations with suppliers to secure favorable terms, pricing, and contracts while ensuring alignment with organizational goals.
• Supplier Management: Develop and maintain strong relationships with key suppliers, monitor their performance, and implement strategies to address any issues or improvements.
• Cost Analysis: Analyze supplier proposals, pricing structures, and total cost of ownership to make informed sourcing decisions that optimize cost efficiency.
• Market Research: Stay updated on industry trends, market conditions, and emerging technologies to make informed sourcing recommendations.
• Sourcing Strategy: Collaborate with cross-functional teams to develop and implement sourcing strategies that align with organizational objectives.
• Contract Management: Review, negotiate, and manage supplier contracts, ensuring compliance with legal and regulatory requirements.
• Quality Assurance: Work with suppliers to ensure products or services meet established quality standards and specifications.
• Risk Assessment: Identify potential risks in the supply chain and develop risk mitigation plans to ensure continuity of supply.
• Cost Reduction: Continuously seek opportunities to reduce costs through negotiation, process improvement, and supplier optimization.
• Coordinating Production Control and Production to ensure we have sufficient material available to meet the shipping goal for the month with on time delivery for our customers.
• Scheduling material to attain the best balance of low inventory levels and on-time performance.
• Monitoring vendor performance for quality and on time delivery. Must abide by AVL for materials to be included into customer product.
• Evaluates vendors relative to their performance so that the company receives the best value.
• Confirming that all purchase requisitions are filled out properly and completed and that all appropriate approvals have been obtained.
• Assuring that all approved purchase requisitions are processed within 2 business days.
• Entering all verbal POs into the company’s purchasing module within 1 business day.
• Reviewing and ensuring that the vendor’s profiles are complete and current in our system.
• Assisting production on inventory policies.
• Obtaining and maintaining current all Material Safety Data Sheets (MSDS) for all procured.
• Reporting final inventory value to accounting within 72 hours of End of Month (EOM).
• Developing and maintaining detailed guidelines and methods manual for the department. This manual will be used to train new employees, regular employee re-training and cross-training.
• A purchase order is a legal contract and therefore the Purchasing Admin is responsible for assuring that all the expectations of the venders are clearly specified either on the purchase order or in referenced documents with revisions level appropriate. (If not completed, they must return the requisition to requestor for further clarification). 
• Overseeing the process of all issues, receipts, adjustments in the Paints inventory control.
• Making sure that the following items are processed in a timely manner: Sales invoices from stock, production orders materials used, stock requisitions, purchase receipts, disposition of items from customers, vendors, Material Review Board, and research cost fluctuations, rejects per guidelines and participation in resolving discrepancies between actual and JobBOSS counts.
• Accurate preparation of inventory information for financial statements by the 8th of the following month, as well as credit card reconciliation.
• Overseeing the processing and verification necessary to ensure accurate recording of all vendors invoices on a timely basis.
• Resolving problems with suppliers and customers regarding errors or discrepancies and verification of balances.
• Matching the vendor invoice with the receiver and the purchase order to validate the invoice and send to AP for payment.
• Verifying the computation of all debits/ credits.
• Preparing and reviewing cash disbursements for COD or other purchases without an account.  
• Maintaining and updating procedure manual.
• Recommending changes in accounting systems and procedures, if appropriate.
• Keeping Manager informed concerning the overall operations of the department.
• Performing other related tasks as requested by Manager.

SUPERVISORY RESPONSIBILITY:

• None

 ESSENTIAL QUALIFICATIONS:

• Bachelor’s degree in business, Supply Chain Management, or a related field; relevant certifications are a plus.
• Proven experience in procurement, sourcing, or supply chain management.
• Strong on negotiation, Business relations skills and communication skills.
• Proficiency in market research and analysis.
• Familiarity with contract management and legal aspects of procurement.
• Ability to work effectively in cross-functional teams.
• Exceptional problem-solving and analytical abilities.
• Attention to detail and organizational skills.
• Proficiency in procurement software and Microsoft Office suite.
• Knowledge of industry-specific regulations and compliance.
• Solid ethics and integrity in supplier relationships.
• Strong industry experience for accurate product/service quality assessments
• Negotiating sale and purchasing agreements, pricing, contract terms and supply contracts in ways that benefit the company.
• Building a network of reliable vendors and service providers
• Have good knowledge of market research, along with solid analytical skills to make sure you’re identifying the most profitable offers.
• Skilled knowledge of vendor sourcing practices (researching, evaluating, and liaising with vendors)
• Conducting research on potential products, vendors, and services, and comparing price and quality to ensure the best deal.
• Meeting with vendors and clients to negotiate the best contracts.
• Writing reports on purchases made and performing cost analysis.
• Experience with evaluating bids and proposals for contracts for goods or services, including determining costs and comparing bids against one another to select the most cost-effective bid or proposal.
• Good verbal, written, leadership and interpersonal skills.
• Must be computer literate in some version of purchase software (SAP, Plex, Job BOSS, Style Line, etc.) and MS Office.
• Strong Knowledge of ERP systems.
• Intermediate skills with Excel Spreadsheets.

 KEY SUCCESS FACTORS

• Honor Commitments: Be true to your word. Be punctual for all meetings and phone calls. If a commitment cannot be fulfilled, alert others early and agree to new deliverables.
• Take Ownership: Take personal responsibility for making things happen. Do not blame others or make excuses. If you see it find a way to fix it.
• Go the Extra Mile: Do what it takes to complete the project and more. That could be working outside your department or coming in early. The extra effort sets you apart.
• Look Ahead and Anticipate: Find solutions to problems before they occur. Always anticipate problems arising and tackle them swiftly. Be proactive not re-active.
• Get Clear on expectations: Be clear and avoid misunderstandings. If it is not defined you are not aligned. Set expectations and ask questions when you are not clear. All discussions and meetings should end with clear actions and deliverables.

PERSONAL PROTECTION EQUIPMENT:

• Following items are available as needed
  • Safety glasses are required in designated areas.
  • Company supplied uniforms and/or gowning must be worn in designated areas.

PHYSICAL DEMANDS: While performing the duties of this job, the employee is regularly required to use hands and fingers. Must be able to talk and hear.  The employee is required to walk, reach with hands and arms, and occasionally sit, stoop and crouch. Requires mental and visual attention to detail as well as hand coordination. Occasionally lifting or moving average weight material.  Please be away that flow of work and character of duties involve normal mental and visual attention along with manual coordination or part-time normal and part-time concentrated attention and coordination.

LANGUAGE SKILLS: Employee must be able to read and interpret documents written in English. Employees must be able to have good communication with fellow employees, supervisors, and management.

Company DescriptionPrecision Coating partners with global MedTech customers to deliver innovative products and services to enhance the surface functionality of their patient critical products. The company operates four facilities: two in Massachusetts, one in Rhode Island, and one in Costa Rica, and serves customers worldwide, offering seamless supply chain support. Additional information about Precision Coating is available at www.precisioncoating.com.

Precision Coating is an Equal Opportunity Employer.Company DescriptionPrecision Coating partners with global MedTech customers to deliver innovative products and services to enhance the surface functionality of their patient critical products. The company operates four facilities: two in Massachusetts, one in Rhode Island, and one in Costa Rica, and serves customers worldwide, offering seamless supply chain support. Additional information about Precision Coating is available at www.precisioncoating.com. \r
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Precision Coating is an Equal Opportunity Employer.

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