Director of Capital Sourcing
1 month ago
The Director of Capital Sourcing will oversee the acquisition of capital goods and services for VCU Health, ensuring cost-effectiveness, standardization, quality, and regulatory compliance. This position will lead a team dedicated to strategically source and manage a capital procurement program essential for delivering high-quality patient care while maximizing value.
**Essential Job Statements**
- Develop and execute strategic sourcing plans for capital projects, including facility expansions and renovations, and equipment upgrades, aligning with organizational goals of maximizing quality and safety while minimizing expenses.
- Lead negotiations with vendors and suppliers to secure favorable terms, pricing, and contractual agreements for capital acquisitions, ensuring compliance with regulatory requirements such as AIA, CMS, The Joint Commission, and OSHA.
- Collaborate with stakeholders to integrate procurement and contracting strategies into the delivery of high-quality patient care, fostering strong relationships with physician and administrative leaders, and the vendor community.
- Manage the capital budget allocation and expenditures, tracking costs and delivering projects within budget while maintaining high-quality outcomes and service levels.
- Implement efficient procurement processes, leveraging technology and industry-leading practices to streamline operations, reduce costs, and enhance productivity in capital sourcing and procurement.
- Monitor market trends, technology advancements, and industry best practices to inform procurement decisions, drive innovation, and achieve sustainability goals in capital projects.
- Ensure continuity in the supply chain for critical capital assets, managing risk through contracts, performance bonds, insurance, and data-driven supplier selection decisions.
- Collaborate with senior physician and administrative leaders to support strategic initiatives and projects related to capital sourcing and procurement, contributing to the organization's growth and success.
- Collaborative with internal stakeholders to establish system standards and purchase contracts for medical equipment and FFE (furniture, fixtures and equipment).
- Lead and mentor a team of procurement professionals, fostering a culture of diversity, equity, and inclusion, and providing opportunities for professional development and career advancement within the network.
- Ensure responsibility and visible commitment of diversity equity and inclusion programs/initiatives through collaboration and implementation of initiatives across the health system.
**Patient Population**
Not applicable to this position.
**Employment Qualifications**
Required Education:
Bachelor's degree in business administration, supply chain management, or a related field.
Combination of education and experience may be considered in lieu of a degree.
Preferred Education:
Master’s degree
Licensure/Certification Required: N/A
Licensure/Certification Preferred: N/A
Minimum Qualifications
Years and Type of Required Experience
5 to 10 years of experience in sourcing and procurement in the healthcare setting, with a strong understanding of hospital and clinic operations.
Other Knowledge, Skills and Abilities Required:
Proven track record in negotiation, vendor management, financial acumen, and maximizing safety in capital projects.
Excellent communication, leadership, and collaboration skills, with the ability to work effectively with cross-functional teams and senior leadership.
A strong understanding of the importance of physician and clinician relationships.
Continuous learning mindset, with a commitment to professional development and staying updated on industry trends and best practices.
Cultural Responsiveness
Demonstrate a commitment to diversity, equity, and inclusion through continuous development, modeling inclusive behaviors, and proactively managing bias.
**Working Conditions
**Periods of high stress and fluctuating workloads may occur.
General office environment.
Long-distance or air travel as needed
- not to exceed 10% travel.
May be exposed to limited hazardous substances or body fluids. *
May be exposed to human blood and other potentially infectious materials. *
May have periods of constant interruptions.
- Individuals in this position are required to exercise universal precautions, use personal protective equipment and devices, and learn the policies concerning infection control.
**Physical Requirements**
Physical Demands: Lifting/ Carrying (0-50 lbs.), Push/ Pull (0-50 lbs.), Climbing, Balance, Bending
Work Position: Sitting, Walking, Standing
**Additional Physical Requirements/ Hazards**
Physical Requirements: Hear alarms/telephone/tape recorder, Repetitive arm/hand movements, Finger Dexterity
Hazards:
**Mental/Sensory - Emotional**
Mental / Sensory: Strong Recall, Reasoning, Problem Solving, Hearing, Speak Clearly, Write Legibly, Reading, Logical Thinking
Emotional: Fast pace environment,
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