What does a Strategic Sourcing Manager do?
Published 3 min read
A Strategic Sourcing Manager is responsible for leading and managing the sourcing activities for an organization. They develop and implement sourcing strategies, manage supplier relationships, and negotiate contracts.
Strategic Sourcing Manager job duties include:
- Research and analyze potential vendors
- Develop and maintain vendor relationships
- Negotiate contracts with vendors
- Manage vendor performance
- Maintain accurate records of all contracts and agreements
- Monitor market trends and developments
- Identify cost saving opportunities
- Prepare reports for senior management
- Collaborate with internal stakeholders to ensure smooth procurement process
- Train and mentor junior staff members
Strategic Sourcing Manager Job Requirements
A Strategic Sourcing Manager is responsible for leading and managing the sourcing function within an organization. They develop and implement strategies to source goods and services in a cost-effective and efficient manner. A Strategic Sourcing Manager typically has a bachelor's degree in business, supply chain management, or a related field. In addition, they may have certification from the American Purchasing Society or the Institute for Supply Management. They typically have 5-10 years of experience in sourcing, procurement, or a related field.
Strategic Sourcing Manager Skills
- Strategic Sourcing
- Supply Chain Management
- Negotiation
- Contract Management
- Supplier Relationship Management
- Spend Analysis
- Category Management
- Market Intelligence
- RFP/RFQ Process
- ESourcing Tools
- Data Analysis
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How to become a Strategic Sourcing Manager
Strategic sourcing managers are responsible for developing and implementing sourcing strategies that support an organization's business goals. They work with internal and external stakeholders to identify and assess opportunities, develop and implement sourcing plans, and manage supplier relationships.
To become a strategic sourcing manager, you will need to have strong analytical, negotiation, and communication skills. You should also be familiar with procurement processes and practices, as well as contract law. A bachelor's degree in business administration or a related field is typically required.
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