Sourcing Analyst

3 days ago


Arlington, United States LHH Full time

Some responsibilities of a sourcing analyst include:

  • Analyzing costs: Analyzing material, labor costs, and rates applied in a company's supply chain
  • Predicting needs: Using statistical models to predict procurement needs
  • Monitoring market trends: Monitoring market trends and pricing
  • Developing strategies: Developing strategies to minimize the effects of market changes on the company
  • Researching new ways to procure materials: Researching new ways to procure materials
  • Presenting information: Presenting information to different groups, including people who are not part of the same company
  • Providing analytical data: Providing analytical data and information to support procurement initiatives
  • Performing market research: Performing market research to identify potential suppliers
  • Providing analytics to aid in contract negotiations: Providing analytics to aid in contract negotiations
  • Making recommendations: Making recommendations to stakeholders and leadership teams

Sourcing is a subset of the procurement process and happens before a company makes purchases.

Some skills that are useful for a sourcing analyst include:

  • Excellent oral and written communication skills
  • Problem solving
  • Organizational and logistical skills
  • Ability to accurately process significant amounts of detail
  • Advanced skill level and working knowledge of Microsoft Office Suite of products
  • Strong ability to analyze and organize data

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