This position leads cross-functional teams in strategic sourcing activities and works proactively to optimize assigned annual expenditures between $5 Million and $10 Million (Sourcing Specialist I), $10 Million and $20 Million (Sourcing Specialist II), or $20 Million and $50 Million (Sourcing Specialist III) in the expenditure categories they are assigned to manage.
Systematically, as agreed upon with department leadership, strategically sources, competitively bids, or re-negotiates key supplier relationships so as to achieve savings and efficiency improvements. Prepares and manages Request for Proposal (RFP) packages in support of multi-million dollar supplier expenditures. Leads high-dollar and complex negotiations with targeted suppliers.
The position serves as a liaison to supplier sales management and legal counsel with regards to commercial and contractual matters, and facilitates creation of contract documents by drafting, reviewing, and involving Corporate Legal, IT, Finance, and/or Risk Management departments as required. Coordinates the signature process by the appropriate executive management, as well as by the appropriate officer of the respective supplier companies. Responsible for contract document administration, reporting and document retention for key assigned procurement supplier relationships.
Sourcing Specialist I
• Proactively researches supplier spend in assigned expenditure categories and formulates cost reduction sourcing strategies to improve efficiency, reduce expenditures, and consolidate the supplier base.
• Leads less-complex sourcing projects, or participates in complex sourcing projects led by more senior level Sourcing Specialists, so as to facilitate key document preparation and cross-functional team (comprised of mid and senior level companywide managers) activities.
• As requested by more senior level Sourcing Specialists, prepares Statement of Work (SOW) and Contracts Amendment documents related to various established contracts.
• Leads strategic sourcing efforts associated with their assigned expenditure categories, including creation and management of Request-for-Proposal (RFP) packages, negotiations with key suppliers, supplier presentation and proposal evaluation activities.
• Prepares, negotiates, reviews and approves less complex contracts and agreements compliant to company policies and procedures. Assists in the development, enhancement and support of the contract administration process
• Follows assigned contracts from requisition receipt, through execution and administration, until signoff and storage.
• Manages contract renewal, maintenance renewal, insurance certificate compliance, and other administration activities associated with assigned contractual relationships.
• Maintains accurate status of sourcing and contracting activities.
• Weekly reporting of souring and contract status.
• Reviews and negotiates final contract (simple to moderate)
• Ensures final contract documents are consistent with agreements reached at negotiations
• Works cross-functionally to establish contracts with new and incumbent suppliers in support of corporate policies.
• Compiles and analyzes data and maintains historical information.
• Contributes to the development of new processes, procedures, techniques and standards.
• Collaborates with management and team to review current processes and make improvements.
• Serves as a consultant on matters pertaining to budget development, procurement and vendor management.
• Manages multiple ongoing projects as assigned to meet business-driven deadlines and commitments while maintaining a high level of quality.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies’ mission and values and adhering to the Code of Business Conduct with specific focus on the Ethics, Fair Dealing, Conflict of Interest, and Protection of Confidential Information sections.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Regular and reliable attendance is expected and required.
• Performs other functions as assigned by management.
Sourcing Specialist II – has similar responsibilities / accountabilities as the Sourcing Specialist I, plus:
• Prepares, negotiates, reviews and approves moderately complex Request for Proposal (RFP) documents, contracts and agreements compliant with company policies and procedures.
• Reviews and negotiates final contract (moderate to complex).
• Acts as liaison to Legal, Risk, and Finance groups on contract language review and approval.
• Resolves contractual and pricing issues with supplier executive leadership.
• Regularly leads in the implementation of new processes, procedures, techniques and standards.
• Assists in directing the activities of Sourcing Specialists I which includes coaching, mentoring, and draft document proofing.
• Communicates contract information to the Procurement Programs group to ensure purchase orders are established to properly enable, facilitate, and enforce the contractual requirements established by the Sourcing & Contracts team.
Sourcing Specialist III – similar responsibilities / accountabilities as Sourcing Specialist II, plus:
• Demonstrates particular focus on large / complex supplier sourcing and contract projects.
• Reviews and negotiates final contract (complex) for implementation.
• Leads in the supply chain management practices within the department.
• Supports and helps develop new process for effective administration of contracts which may include a contract management system, vendor partnership programs and committed contract savings.
• Leads the development, enhancement and support of the contract administration process.
• May be accountable for the recommendation, development and implementation of new processes, procedures, techniques and standards.
• May help direct the activities of contract professionals from simple, routine to highly complex contractual arrangements of strategic importance.
• Drives implementation of strategic contract opportunities with the most significant impact to the corporation.
• Involves in strategic sourcing / contracting activities; including RFP’s as requested.
• Identifies risks and issues, suggests alternatives that lead to the best solution.
• Directs the activities of Sourcing Specialists, including coaching, mentoring, and draft document proofing.
Sourcing Specialist I
• Bachelor’s degree in business administration, supply chain management, information technology, finance, legal or related field required with a minimum of three years of experience in procurement or contract administration required, preferably with a corporate strategic sourcing organization. In lieu of degree, a minimum of seven years of procurement or contract administration experience, preferably with a corporate strategic sourcing organization.
• Professional certification as a Certified Professional in Supply Management (CPSM), Certified Purchasing Manager (C.P.M.), or Certified Professional Commercial Contract Manager (CPCCM) desirable.
• Previous experience in contract negotiations required.
• Demonstrated strong attention to detail in reviewing documents for quality.
• Understanding of budgets and numbers.
• Excellent knowledge of contract management technology tools and skill with database administration (including entry and management of complex contract tracking details)
• Must be self-motivated, able to work independently with minimal supervision.
• Must possess excellent communication, and interpersonal skills.
• Ability to work in a team.
• Ability to make independent judgment and exercises critical thinking skills.
• Works with all levels of management.
• Strong skills in Microsoft Word, Excel, and database programs
• Demonstrated tact and poise in dealing with mid-level management.
• Strong organizational, project management, and analytical skills.
Sourcing Specialist II - requires the same minimum qualifications as Sourcing Specialist I, as well as:
• Minimum of eight years of experience in strategic sourcing and contract administration required.
• Experience in moderate to complex contract negotiations required.
• Solid procurement / supply chain management skills
• Must possess the ability to review current processes and make improvements.
• Advanced skills in Microsoft Word, Excel, and database programs
• Proficiency with budgets and numbers.
• Demonstrated process management experience and strong understanding of contractual terms and conditions.
Sourcing Specialist III – requires the same minimum qualifications as other levels, as well as:
• Minimum of ten years of experience in strategic sourcing and contract administration required.
• Previous experience in mentoring and training.
• Experience in supply chain management and Procure to Pay (P2P) improvement efforts.
• Ability to identify contractual and supplier management risks and issues; suggest alternatives that lead to the best solution
• Must demonstrate tact and poise in dealing with Senior-level management and contract professionals.
• Excellent presentation, teambuilding and leadership skills.
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In support of the Americans with Disabilities Act, this job description lists only those responsibilities and qualifications deemed essential to the position.
Equal Opportunity Employer