Nutraceutical Sourcing Strategist

At Best Formulations, we are a trusted partner to our customers when it comes to innovation and have one of the strongest R&D, product formulation and technical teams in the industry. We are recognized as the leader in plant-based softgel innovation and our ability to encapsulate difficult formulas. We seek out innovation across our entire business and pass that knowledge and expertise to our customers.

We are seeking a highly skilled and strategic Nutraceutical Sourcing Strategist to join our team. As a key member of our sourcing team, you will be responsible for developing and implementing comprehensive sourcing strategies that align with our company goals and ensure a reliable supply of high-quality materials. This is an exciting opportunity to work with a leading nutraceutical company and contribute to our mission of providing the highest quality products and best customer service.

• Develop and Implement Sourcing Strategies: Create and execute comprehensive sourcing strategies that align with company goals and ensure a reliable supply of high-quality materials.
• Supplier Management: Identify, evaluate, and establish strong relationships with suppliers to ensure quality, cost-effectiveness, and timely delivery of materials.
• Contract Negotiation: Negotiate contracts and agreements with suppliers to secure the best terms and conditions, including pricing, quality, and delivery schedules.
• Risk Management: Identify and mitigate risks within the supply chain, including supply disruptions, quality issues, and regulatory compliance.
• Market Analysis: Conduct market research and analysis to stay informed about industry trends, pricing, and new sourcing opportunities.
• Cross-Functional Collaboration: Work closely with R&D, Quality Assurance, Production, and other departments to ensure sourcing activities meet company standards and requirements.
• Budget Management: Develop and manage the sourcing budget, ensuring cost-effective procurement practices.
• Performance Metrics: Establish and monitor key performance indicators (KPIs) to measure the effectiveness of sourcing strategies and supplier performance.

• Bachelor's degree in Supply Chain Management, Business Administration, or a related field.
• Minimum of 5 years of experience in sourcing or procurement, preferably within the nutraceutical or pharmaceutical industry.
• Strong knowledge of the nutraceutical market and regulatory requirements.
• Excellent negotiation and contract management skills.
• Proven ability to develop and maintain strong supplier relationships.
• Strong analytical and problem-solving abilities.
• Proficiency in procurement software and tools.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team in a fast-paced environment.

$134,750 - $169,000 per year, based on candidate professional experience level.

• 401(k) with company match
• Tuition reimbursement
• Medical/Dental/Vision/Pet Insurance
• Health & Wellness programs
• Generous time off for vacations

This position is currently classified as on-site.