What are the responsibilities and job description for the Strategic Sourcing Manager position at Loram?
Job Title: Manager, Strategic Sourcing
FLSA Status: Exempt
Department: Supply Chain Services
Reports to: Director of Supply Chain
Flex Work Eligible! This position qualifies for the Flexible Work Policy. Employees receive 75 work days annually to work remote! The initial amount of days is prorated for the first year based on start date.
GENERAL DESCRIPTION / PURPOSE:
The Strategic Sourcing Manager will develop and execute a best in class strategic sourcing function to leverage market knowledge, drive effective supplier negotiations and optimization, while developing predictable and industry leading commodity plans, to advance total cost of ownership (TCO) cost modeling while reducing supplier risks. This role will be a hands-on leader with a team that will be able to independently develop sourcing strategy and conduct sourcing initiatives for a variety of direct and indirect categories for a heavy manufacturing and service organization. Additional focus on optimization of internal sourcing processes, workflows and interfaces to reduce time of delivery and costs in support of corporate objectives. This dynamic leader will be expected to deliver value and competitive advantage to the business as measured by customer satisfaction, project execution, value improvement, innovation, and other areas such as risk mitigation, where applicable.
ESSENTIAL JOB FUNCTIONS: Leadership & Talent Development of Strategic Sourcing Function
- Design and execute an end to end roadmap for Strategic Sourcing on direct/indirect spend for major commodities including opportunity analysis, strategy development, evaluation, and SRM for Loram.
- Lead a team of Sourcing professionals to achieve clear, high attainable standards and goals including year over year cost reductions while ensuring compliance with company legal and risk guidelines.
- Develop, execute, and maintain strategic sourcing related policies and enforce compliance of policies.
- Establish mutual KPI goals with functional leaders that align strategic sourcing goals to business needs.
Operational Excellence
- Develop, execute, and maintain the annual strategic sourcing plans including preparation of supply and demand profiles, and measurement of department performance against standards and benchmarks.
- Align Loram practices with best in class Strategic Sourcing standards. Lead critical sourcing events and strategic sourcing projects to deliver value to Loram.
- Identify and achieve year-over-year cost reduction strategies by leveraging market knowledge, industry trends, supplier optimization, predictable pricing, and TCO modeling (price, cost, demand & value).
- Influence relevant business functional decisions throughout the company to achieve the highest level of contribution to profit, growth, and competitive advantage utilizing leading Sourcing principles.
Sourcing Process
- Execute, leverage, and deploy sourcing levers across all spend categories to create a competitive advantage for Loram and deliver innovative business solutions.
- Lead all aspects of supplier negotiations with internal business partners to draft and execute contracts that protect the business interests of Loram, while providing best overall value. Oversee and advise on contract structure, Terms and Conditions, and performance-based contracting with Suppliers.
- Implement joint process improvement programs with strategic suppliers by assessing the success of current processes and programs; and identifies opportunities for improvement.
- Influence suppliers' manufacturing processes, technology decisions, and policies in ways that are mutually beneficial and sustainable for both organizations by leveraging the growth of Loram’s spend.