What are the responsibilities and job description for the Strategic Sourcing Specialist position at RENK America?
The Strategic Sourcing Specialist will be responsible for developing and implementing sourcing strategies to optimize the procurement of goods and services. This role involves identifying opportunities for cost savings, managing supplier relationships, and ensuring the supply chain aligns with organizational goals.
Essential Functions:
- Analyze, develop and implements long term spend management strategy within a commodity to ensure sourcing efforts meets business goals and objectives.
- Manages activities including supplier assessments and rationalization, negotiates for best total cost of ownership.
- Researches and benchmarks current commodity market conditions/trends.
- Guides the selection, development, and management of strategic suppliers to meet commodity cost and performance goals.
- Establishes a strong network and fosters collaboration with customers, supplier, key stakeholders, and category team members.
- May lead negotiation and completion of contracts with global strategic and preferred supplier to maximize benefits.
- Implements rigorous and disciplined processes for managing the supply base including leading periodic business reviews, monitoring and managing supplier performance.
- Develop and execute strategic sourcing plans to meet organizational objectives.
- Analyze market trends and supplier performance to identify opportunities for improvement and cost reduction.
- Negotiate contracts and agreements with suppliers to secure favorable terms and conditions.
- Collaborate with cross-functional teams to understand procurement needs and align sourcing strategies.
- Monitor and manage supplier performance, including quality, delivery, and compliance.
- Evaluate and select supplier based on their capabilities, financial stability, and alignment with company goals.
- Maintain accurate records of procurement activities and generate reports for management review.
- Ensure adherence to company policies and procedure, as well as legal and regulatory requirements.
Level/pay will be commensurate with education and experience.