Strategic Sourcing Associate Director
4 weeks ago
Job Description
General Summary:
As a leader in the Strategic Sourcing function, the Strategic Sourcing Associate Director will manage Category Management activities across a defined set of spend categories, often complex and/or requiring technical knowledge. Working collaboratively with internal Business Stakeholders, the Associate Director is expected to develop sound sourcing strategies, gain endorsement by the Business, and drive the successful execution that will support Business goals and objectives. The Associate Director is also expected to support the optimization of internal sourcing processes, workflows and interfaces in effort to reduce time of delivery and costs in support corporate objectives and industry best practices.
Key Duties and Responsibilities:
- Leads Category Management for specific complex category areas including the development of sourcing strategies, management of strategic supplier relationship and performance management, in addition to tactical RFx activities.
- Use applicable e-Sourcing tools to support sourcing activities and analysis
- Performs and integrates market research to support Category strategies and/or sourcing activities with the ability to filter data into a relevant, actionable format.
- Owns the Supplier Performance/Relationship Management process including supplier performance monitoring. Responsible for meeting preparation, pre-read documents, performance Dashboards, capturing action items, and ensuring appropriate follow-up including Executive Business Reviews that include Senior leaders both within Vertex and with the 3rd party.
- In collaboration with the Business, responsible for defining Key Performance Indicators (KPIs) and associated performance metrics and are integrated into contractual documents and captured on Dashboards to ensure supplier performance is meeting expectations and continuous improving.
- Supports the Business Owner with identification of all applicable risks as part of the Sourcing process, including coordination with Risk Subject Matter Experts to properly assess and develop mitigation plans, where necessary.
- Manages the entire RFx process including, but not limited to, the development of the requirements, drafting RFP documents, facilitation of team meetings and vendor sessions, negotiation of terms and pricing with the vendors, and ultimately supporting the execution of Supplier Agreements.
- Develops annual cost savings targets, in collaboration with Business Partners and Finance, within their specific category(ies) and is accountable for successful achievement.
- Manages complex negotiations on price and terms, that often include other internal stakeholders such as Business Partners and Legal. Able to independently create comprehensive negotiation planners that all internal parties are aligned with upfront.
- Acts as mentor to support Sourcing colleagues, temporary workers, and/or college co-ops, as directed by their Manager.
Knowledge and Skills:
- Deep understanding of Category Management within specific areas of expertise; able to manage and drive all aspects of Strategic Sourcing including RFx execution, negotiation, contract execution, supplier performance management, and business stakeholder management.
- Viewed as resource within their category(ies) by Business Partners; able to bring new ideas and information that create tangible value to business.
- Strong understanding of the drug discovery process and the specific regulatory requirements associated with operating in the pharmaceutical/biotech industry.
- Proficient in Microsoft Office, strong knowledge of ERP systems, can expertly leverage e-Sourcing tools, including business intelligence and reporting platforms.
- True expertise in managing and leading complex supplier negotiations, including development of comprehensive negotiation planners and ensuring alignment with all internal business stakeholders.
- Strong analytical capabilities (data analysis and benchmarking research) as well as PowerPoint skills; expertise working with data analytical/reporting tools such as Power BI, Tableau, etc. Able to generate necessary data and reports to support their activities.
- Strong understanding and demonstrated use of Continuous Improvement tools (including Pareto Charts, Flow Diagrams, etc.) to drive process improvements
- Strong project management and organizational skills. Able to create detailed project plans, including an understanding of dependencies as well as critical path elements for larger, more involved projects. Track record of successful execution of complex, cross-functional initiatives.
- Able to lead teams in collaborative manner to drive successful outcomes. Collaboration extends beyond Business Partners and suppliers to include other functional areas including Legal, Compliance, Finance, among others.
- Strong communication skills (both written and verbal); able to clearly articulate opinions in concise and persuasive manner. Comfortable speaking in front of groups and/or leading meetings that may include Senior-level Management personnel.
- Deep knowledge and understanding of contract law, including all terms and conditions; seen as a trusted partner from Legal colleagues to provide valuable insight into potential contractual risks across all applicable types of Agreements (i.e. Confidential Disclosure Agreement, Master Services Agreements, etc.).
- Ability to work in collaborative, team environment; ability to cultivate and maintain effective business partner relationships through earned respect and trust
- Ability to manage several projects while ensuring deliverables are fully met on-time, including more complex and involved projects. Once given direction, able to work autonomously with minimal support/direction from their Manager.
Education and Experience:
- Bachelor's degree in relevant discipline from a 4-year College or University
- Typically requires 7+ years of specific Sourcing experience, ideally several within a pharmaceutical / biotech industry, and has developed subject matter expertise in specific spend categories.
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