What does a Sourcing Specialist do?
Published 4 min read
A sourcing specialist is responsible for identifying and evaluating potential suppliers, negotiating contracts, and managing supplier relationships. They work closely with buyers and other stakeholders to ensure that all sourcing activities are aligned with the company's business objectives.
Sourcing Specialist job duties include:
- Research and identify potential new suppliers
- Evaluate supplier capabilities to meet company needs
- Negotiate contracts and pricing with suppliers
- Manage supplier performance to ensure quality and delivery standards are met
- Maintain supplier relationships and resolve issues as needed
- Monitor industry trends and developments to identify new sourcing opportunities
- Develop and implement sourcing strategies in alignment with company objectives
- Prepare reports and presentations on sourcing activities for senior management
- Participate in cross-functional teams to support new product development or process improvement initiatives
- Perform other duties as assigned
Sourcing Specialist Job Requirements
A Sourcing Specialist is responsible for identifying and assessing potential suppliers, negotiating contracts, and maintaining relationships with key suppliers. They must have a bachelor's degree in business, supply chain management, or a related field, and experience working in procurement, supply chain management, or a related field. They must also be proficient in Microsoft Office applications and have excellent communication and negotiation skills.
Sourcing Specialist Skills
- Sourcing
- Procurement
- Supplier Relationship Management
- Spend Analysis
- Contract Negotiation
- Change Management
- Supplier Diversity
- RFP/RFQ Development
- E-Sourcing
- Purchasing
- Category Management
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How to become a Sourcing Specialist
A sourcing specialist is responsible for finding and evaluating suppliers of goods and services. They work with purchasing managers to select vendors and negotiate contracts. To become a sourcing specialist, you will need a combination of education and experience in business, procurement, and supply chain management.
There are many ways to start your career in sourcing. One option is to get a degree in business administration or a related field. You can also pursue certification from the American Purchasing Society or the Institute for Supply Management. Many companies also offer training programs for entry-level positions in sourcing.
Once you have the necessary education and training, you will need to gain experience working with suppliers. This can be done through internships, entry-level jobs, or by working as a purchasing assistant or buyer. As you gain experience, you will learn how to assess supplier capabilities, negotiate contracts, and manage supplier relationships.
To be successful in this field, you must be able to think strategically and have strong analytical and problem-solving skills. You must also be able to communicate effectively with both internal and external stakeholders. With the right skills and experience, you can build a successful career as a sourcing specialist.
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