What does a Sourcing Manager do?
Published 3 min read
A sourcing manager is responsible for finding and managing relationships with suppliers. This includes negotiating contracts, managing inventory, and ensuring quality control. They work closely with purchasing managers to ensure that the company is getting the best possible price for its products.
Sourcing Manager job duties include:
- Identify potential suppliers and initiate contact
- Research and evaluate potential suppliers
- Negotiate supplier contracts
- Manage supplier performance
- Maintain supplier relationships
- Monitor market trends
- Identify cost-saving opportunities
- Develop sourcing strategies
- Implement sourcing plans
- Track sourcing metrics
Sourcing Manager Job Requirements
A Sourcing Manager is responsible for leading and managing the sourcing function within an organization. They develop and implement sourcing strategies, lead negotiations with suppliers, and manage supplier relationships. In order to be a Sourcing Manager, one should have a bachelor's degree in business, supply chain management, or a related field. Additionally, certification in supply chain management or procurement is beneficial. Experience working in sourcing, procurement, or supply chain management is also required.
Sourcing Manager Skills
- Negotiation
- Communication
- Organization
- Time Management
- Research
- Sourcing
- Supplier Management
- Contract Management
- Spend Analysis
- Category Management
- Strategic Sourcing
- Sourcing Processes
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How to become a Sourcing Manager
The role of a sourcing manager is to identify and procure the best possible materials and supplies for their company at the most competitive prices. They are responsible for maintaining supplier relationships, negotiating contracts, and ensuring that all sourced materials meet quality standards.
To become a sourcing manager, you will need a combination of education and experience in business, procurement, and supply chain management. Many sourcing managers have a bachelor’s degree in business administration or a related field. Some companies may require that you have a master’s degree in business administration (MBA) or a Certified Public Purchasing Officer (CPPO) certification.
In addition to formal education, you will need several years of experience working in procurement or supply chain management. This experience will give you the knowledge and skills necessary to effectively negotiate contracts and manage supplier relationships.
If you are interested in becoming a sourcing manager, start by pursuing a degree in business administration or a related field. Then, gain several years of experience working in procurement or supply chain management. With the right combination of education and experience, you can become an effective sourcing manager for your company.
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