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Head of Strategic Sourcing and Vendor Management

2 months ago

California, United States Meet Full time

Overview:

The Head of Strategic Sourcing and Vendor Management is tasked with steering the procurement team to enhance expenditure efficiency, cultivate and sustain supplier partnerships, mitigate risks, and align with corporate goals. This position requires forging robust collaborations with organizational leaders and offering guidance to the team in crafting and executing sourcing strategies that leverage the company's purchasing power for optimal efficiency and strategic alliances.

Key Responsibilities:

Leadership in Strategy:

  • Collaborate with senior leadership to synchronize sourcing objectives with organizational goals.
  • Design and execute sustainable and varied outsourcing strategies.
  • Direct and manage the team, assigning project responsibilities and supervising results.

Management of Categories:

  • Create category-specific strategies and perform market analysis.
  • Oversee vendor assessment procedures, including RFIs, RFPs, and selection processes.
  • Facilitate vendor demonstrations, presentations, and award notifications.

Negotiation and Contract Oversight:

  • Lead vendor negotiations regarding scopes of work, financial plans, and payment timelines.
  • Manage purchase orders, contract amendments, and lifecycle management.
  • Ensure vendors receive proper training on invoice processes and assist with query resolutions.
  • Reconcile vendor accounts and finalize contracts.

Financial and Vendor Management:

  • Work with business units to establish suitable vendor governance frameworks.
  • Negotiate pricing structures, discounts, and performance incentives.
  • Collaborate with Financial Planning & Analysis for financial projections, accruals, and reporting.

Spend Oversight and Reporting:

  • Develop analytics frameworks for expenditure tracking and reporting in partnership with relevant teams.
  • Ensure the team supports business units throughout the vendor lifecycle.

Vendor Relationship Management:

  • Establish and nurture relationships with existing and potential vendors.
  • Represent the sourcing team in governance discussions and address vendor-related challenges.

Operational and Legal Compliance:

  • Ensure contracts are comprehensive, precise, and compliant with standards.
  • Support the integration of sourcing functions within the Legal Contract Lifecycle Management (CLM) system.

Additional Duties:

  • Lead significant initiatives as assigned and undertake other related responsibilities.

Supervisory Role:

Direct Oversight:

  • Supervise Sourcing Managers and/or Sourcing Contract Managers.
  • Manage recruitment, performance evaluations, and administrative functions.

Indirect Oversight:

  • Provide strategic direction and oversight for Category Managers.

Qualifications:

Education:

  • Bachelor's degree with over 13 years of experience, Master's degree with over 11 years, or Doctoral degree with over 8 years in a relevant discipline.

Experience:

  • Significant experience in outsourcing and strategic sourcing within pertinent industries.
  • A minimum of 7 years in a leadership or management capacity.
  • Experience with contract manufacturers, clinical research entities, and testing laboratories.
  • Proficiency in relevant software and contract management systems.

Knowledge and Skills:

  • In-depth understanding of outsourcing principles, financial operations, and contract management.
  • Exceptional negotiation, strategic planning, and leadership capabilities.
  • Strong communication, problem-solving, and relationship-building skills.
  • Proficiency in Microsoft Office and a quick adaptability to new software.
  • Commitment to core organizational values.

Work Environment:

  • Travel: Occasional travel to corporate sites and vendor locations (up to 10%).
  • Setting: Primarily office-based with clerical responsibilities.