Procurement Strategy Manager
2 weeks ago
Position Summary: The Procurement Strategy Manager will be responsible for overseeing and optimizing the costs and expenditures associated with the procurement of finished goods. This role involves identifying strategic supply partners and formulating sourcing policies that align with organizational goals. The manager will create detailed cost estimates and forecasts, negotiate advantageous contracts, and evaluate sourcing methodologies to present improvement strategies for executive approval.
Key Responsibilities:
- Contribute to the establishment of objectives and budgets for the procurement function.
- Negotiate modifications to contracts, manage follow-up quotations, and ensure compliance with terms and conditions.
- Lead and mentor the procurement team, ensuring effective people management.
- Collaborate with business partners to identify and implement Total Cost of Ownership (TCO) improvements.
- Engage with various sourcing and procurement teams to enhance operational efficiency.
- Provide consistent project updates to stakeholders, including participation in necessary meetings and follow-up on tasks.
- Utilize project management tools to monitor and communicate project progress.
- Develop financial models to support business case evaluations for procurement deals.
- Identify and manage dependencies and critical issues affecting performance improvement.
- Assist in creating and enforcing unit policies, procedures, and systems.
- Establish assessment criteria for existing supplier performance and selection methods for new partners.
- Apply accounting principles, cost analysis, budgeting, forecasting, and market research in procurement activities.
- Translate strategic objectives into actionable plans and communicate them effectively across the organization.
- Mitigate risks and ensure compliance by fostering strong relationships with internal stakeholders.
- Organize and facilitate productive meetings with both internal and external stakeholders.
- Administer contracts in accordance with organizational policies, providing analysis and interpretation of contract documents.
Qualifications:
- Bachelor's or Master's Degree in Business Administration or a related technical field.
- A minimum of 5 years of experience in global procurement, particularly in fasteners.
- A strong focus on problem-solving and continuous improvement methodologies.
- Proven leadership abilities, strong work ethic, and exceptional negotiation skills.
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