Sourcing Director

3 Months temp to hire role

The Sourcing Director for private label will be responsible for standing up and leading a sourcing team of individuals and implementing best-in-class practices and policies for sourcing. This role is critical in ensuring the procurement of high-quality products while maintaining cost-efficiency and meeting regulatory requirements. The ideal candidate will have held leadership positions in sourcing, have deep sourcing best practices experience, including supplier management, cost modeling, competitive bidding, and other strategic sourcing disciplines, alongside extensive experience in the healthcare distribution industry. This individual will also be the sourcing lead on certain categories to ensure delivery sourcing goals.

Key Responsibilities:

Sourcing Leadership:

• Develop best-in-class frameworks, tools, policies, analytics for the organization to leverage with both incumbents and new suppliers.
• Lead a team of sourcing individuals focused on category sourcing strategies, supplier relationship, analytics, cost management, product lifecycle management.
• Develop a strategic roadmap for sourcing capability enhancements, strategic sourcing goals within a budget year and within long-range plan. Execute against the plan to ensure delivery against strategic and financial goals.

Strategic Sourcing & Procurement:

• Develop and implement strategic sourcing plans for private label healthcare products, considering cost, quality, and supply chain efficiency.
• Lead the cost modeling and profitability analysis to analyze suppliers' cost structures and identify opportunities for cost reduction and value optimization.
• Conduct competitive bidding processes to ensure the selection of the best suppliers based on quality, price, delivery, and service performance.
• Collaborate with internal teams (marketing, quality assurance, regulatory affairs, supply chain and finance) to ensure product specifications and quality standards are met.

Supplier Relationship Management:

• Build and maintain strong relationships with key suppliers and manufacturers.
• Monitor supplier performance using KPIs and SLAs, ensuring compliance with delivery schedules, quality standards, and contractual obligations.
• Conduct regular supplier audits and assessments to ensure product quality and operational excellence, making adjustments as necessary to improve performance.

Cost Management & Budgeting:

• Lead cost analysis efforts, utilizing tools such as cost modeling to assess pricing structures and drive negotiations.
• Manage budgets for private label sourcing and ensure alignment with company financial goals.
• Identify and implement cost-saving opportunities within the sourcing process without compromising product quality.

Product Lifecycle Management:

• Oversee the lifecycle of private label products, from sourcing and development to final delivery.
• Work closely with cross-functional teams (Sales, Marketing, Regulatory, etc.) to ensure timely and successful product launches.
• Ensure compliance with industry regulations, certifications, and quality standards throughout the product lifecycle.

Market & Industry Insight:

• Stay current with industry trends, emerging technologies, and regulatory changes affecting the healthcare and private label sectors.
• Perform market analysis to track competitor offerings and pricing strategies to maintain a competitive edge.

Collaboration with Internal Teams:

• Work closely with Sales, Marketing, and Product Development teams to ensure sourcing strategies align with market demands and customer requirements.
• Provide strategic sourcing input and guidance for new product development and portfolio management.

Sourcing Analytics & Reporting:

• Lead development of analytics and reporting requirements for the team.

Education:
Bachelor's degree in business, Supply Chain Management, Healthcare Administration, or related field. Master's degree preferred.

Experience:

• At least 5 years of experience managing private label categories, with a proven track record of successful vendor negotiations, cost management, and product development.
• Strong experience with cost modeling (ie should cost, cost plus etc…) and competitive bidding processes (RFP, RFQ, RFI, 3 bids and buy) to optimize pricing and supplier selection.

Skills:

• In-depth knowledge of private label sourcing, including cost modeling, pricing strategies, and competitive sourcing.
• Familiarity with regulatory requirements (FDA, GMP, ISO, etc.) for healthcare products.
• Strong negotiation and communication skills with the ability to build and maintain relationships with suppliers and internal teams.
• Advanced analytical skills with the ability to assess market trends, cost structures, and performance data to drive sourcing decisions.
• Proficient in sourcing tools, ERP systems, and MS Office Suite (Excel, PowerPoint, Word).

Personal Attributes:

• Detail-oriented with a focus on compliance and quality.
• Results-driven, proactive, and able to work independently and collaboratively in a fast-paced environment.
• Strong problem-solving abilities, particularly in managing complex sourcing challenges and cost optimization.