Strategic Sourcing Manager

Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of more than 36,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life's potential. For more information, visit Tricon Residential.

Job Description

The Strategic Sourcing Manager will be instrumental in developing category-sourcing strategies and leading cross-functional teams to execute strategic initiatives across Tricon's markets. This role involves all aspects of category management including running RFPs/RFIs, vendor discovery, developing material and operational strategies through our vendor base while also ensuring that procurement processes align with Tricon's strategic goals. The ideal candidate will bring expertise in market analysis, vendor management, and cost-effective procurement practices. The role also works closely with the Vendor Performance & Onboarding team to ensure all vendors meet and adhere to our company's standards, regulations, and operational requirements, creating a seamless, efficient, and risk-mitigated vendor partnership ecosystem. This role will also concentrate on enhancing relationships will Tricon's vendor community while helping further develop Tricon's Strategic Vendor Partners. The ideal candidate will have a strong background in strategic sourcing and negotiation strategies. As part of a rapidly growing company, industry, and department, this position will require innovative thinking and a desire to constantly improve processes and strategies.

Essential Duties and Responsibilities include the following but are not limited to the job specifications contained herein. Additional duties or job functions that can be performed safely may be required as deemed necessary by supervisory personnel.

• Develop sourcing strategies for specified spend categories to achieve key organizational and departmental goals related to cost savings, process improvement, standardization, waste reduction and other pertinent Supply Chain initiatives
• Working with Operations, conduct regular specification rationalization analyses for Tricon's materials
• Works closely with Procurement team to develop warehousing/inventory strategies for Tricon's materials across the U.S. and Canada
• Manages and executes Request for Proposal/ Request for Information (RFP/RFI) processes at contract expiration by category when industry and benchmark data show apparent savings opportunity
• Develop and implement strategic material sourcing plans to meet company objectives and reduce costs.
• Collaborate with Procurement, Fleet Management, Operations Leadership, and various operational departments to advance the company's initiatives to meet goals.
• Analyze market trends and supplier performance to ensure alignment with company standards and expectations.
• Identify and lead cross-functional/continuous improvement activities.
• Collaborate with Legal to negotiate contracts and terms with suppliers to secure advantageous terms.
• Manages a team of sourcing professionals to prioritize, plan, negotiate and execute strategic sourcing events to achieve savings targets and increase operational efficiency
• Collaborate with internal stakeholders to understand their requirements and ensure procurement strategies meet their needs. This includes working closely with Construction, Maintenance, and Operations
• Manage supplier relationships, conducting regular reviews and assessments to foster positive and productive partnerships.
• Implement continuous improvement practices in sourcing strategies to enhance efficiency and effectiveness.
• Prepare and present reports on sourcing activities, outcomes, and market conditions to senior management.
• Work with Vendor Performance & Onboarding Team in the auditing of vendor performance (Tricon's Vendor Scorecard Program), ensuring compliance with contractual obligations and performance standards
• Conduct Quarterly Business Reviews (QBR's) and Top-to-Top's with Tricon's Strategic Vendor Partners
• Provide regular updates and reports on projects and sourcing strategies to senior management, highlighting areas of concern or opportunity
• Evaluate the current Strategic Sourcing Process, including Tricon's 7-Step Sourcing Process for enhancements
• Work closely with departments such as procurement, accounting, finance, and legal to ensure alignment in vendor engagement and management strategies. Work closely with Vendor Managers to qualify new vendors
• Operate as a subject matter expert for assigned categories
• Collaborate with procurement, legal, and other departments to ensure compliance with company policies and procedures, including adherence to Trion's Fidelity policy
• Collaborate closely with all internal stakeholder, fostering an atmosphere of collaboration and empowerment
• Travel up to 30% of the time

Qualifications:

• Experience managing categories in excess of $50M in annual spend
• Demonstrated negotiation skills including a deep understanding supplier contracts
• Exceptional persuasion and interpersonal skills in order to interact with suppliers, business leaders and all other internal stakeholders
• Experience with ERP systems, Spend Data Analytics & Reporting, eSourcing, inclusive of eAuctions and contract management systems
• Writes clearly and informatively and presents numerical data in an easy to digest format
• Knowledge of Yardi and Real Estate industry / terminology is a significant plus
• Knowledge of Power BI a plus
• Demonstrate a high level of attention to detail
• Demonstrate intellectual curiosity
• Ability to effectively organize and prioritize multiple tasks
• Demonstrated understanding of purchasing policies, procedures, practices, and the value and use of procure-to-pay (P2P) digital platforms
• Proficient in Microsoft Office; Advanced Excel abilities (pivot tables, VLOOKUP, Index(Match) charting/graphing) preferred

Minimum Requirements:

• Bachelor's Degree preferred, or equivalent combination of education, training, and experience
• Minimum of 5 years of experience in strategic sourcing, procurement, vendor management or a related field with 3 years in category management, overseeing a total spend for $150M+ with multiple categories
• Minimum of 2 years managing multiple direct reports
• Proven track record of developing and managing RFP's and RFI's
• Strong analytical and strategic thinking skills, with an ability to conduct detailed cost analyses and market assessments.
• Excellent negotiation and vendor management skills.
• Advanced knowledge of distribution and warehousing
• Robust understanding of supply chain management and procurement software. Ariba, Coupa, D365, Yardi, Appian experience preferred
• Exceptional communication and collaboration skills to work effectively across various departments.
• Knowledge of industry-specific regulations and requirements
• Strong organizational skills with an eye for detail
• Exceptional communication and interpersonal skills
• Ability to manage multiple tasks and projects simultaneously
• Proficiency with vendor management software and tools
• A problem-solving mindset with strong analytical capabilities

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job, including:

• Frequently required to sit; talk; and hear.
• Occasionally required to stand; walk; use hands to finger, handle, or feel; reach with hands and arms; and stoop; kneel; or crouch.
• Occasionally lift and/or move up to 10 pounds.
• Vision abilities required by this job include close vision, distance vision and depth perception.

At Tricon Residential, we know that the best ideas happen when people bring their uniqueness to work with them. Inclusion is an integral part of how we leverage that uniqueness into our Company. Supporting Diversity, Inclusion and Belonging is not only the right thing to do; it is the right thing to do for our business.

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