In addition, I’ll offer an overview of the responsibilities and skills of the role so you can decide if you’re a good fit. Filter by location to see Strategic Sourcing Analyst salaries in your area. Explore the RFP process in more detail: Download the RFP process guide. There’s a halfway decent chance that your employer won’t know the difference between purchasing or planning or inventory control or strategic sourcing … Create, issue and manage RFPs in a digital RFP management system. Jennifer is passionate about collaboration, education and community service. The best states for people in this position are Alaska, Washington, New Jersey, and Idaho. As a parallel (and since careers and career management within procurement have been a longstanding topic on CPO Rising), I thought it would be interesting to hear Tim Cook talk about his career path, influences, and choices in his own words. Typically, strategic sourcing managers report to the director or vice president of procurement, supply chain director or the chief procurement officer. Lead collaboration with stakeholders and internal teams Working as a Director Of Strategic Sourcing? The practice focuses on managing energy spend for Insight Sourcing … Between 2018 and 2028, the career is expected to grow -6% and produce -29,200 job opportunities across the U.S. From entry-level to executive positions, here is the typical procurement career path framework: 1. Looking for a great paid job opportunity at Vertex Pharmaceuticals in Massachusetts? That's $123,886 a year! In fact, many director of strategic sourcing jobs require experience in a role such as purchasing manager. Some places are better than others when it comes to starting a career as a director of strategic sourcing. Using our career map, a director of strategic sourcing can determine their career goals through the career progression. Tell us your goals and we'll match you with the rights job to get there. Collect and interpret procurement data including cost analysis reporting, benchmarking spend, RFP data and return on investment. Choose your role. If you’re in a supply chain middle management role and have been doing it for a few years, you should consider lobbying your employer to change your job title from purchasing manager or planning manager or inventory manager or strategic sourcing manager to supply chain manager. Career Development With a huge focus on our employees, Insight Sourcing Group is committed to helping all individuals reach their goals and advance their careers. Manage proposal evaluation and final vendor selection. Then, conduct regular vendor performance evaluations and supplier risk assessments. Undergraduate degree and 1-3 years of relevant work experience in business, management, finance or a related discipline. As an account executive at RFP360, Jennifer focuses on building connections and empowering customers with technology. Top Strategic Planning Executive. Strategic Sourcing Manager. It's anonymous and will only take a minute. For instance, many start their career as a category manager, procurement manager, sourcing specialist or supply chain manager before growing into the strategic sourcing role. Manage vendor selection Apply to Sourcing Manager, Analyst, Sourcing Specialist and more! (Note that every bullet below is a direct quote from Cook made over the last few years). When it comes to the most important skills required to be a director of strategic sourcing, we found that a lot of resumes listed 15.0% of directors of strategic sourcing included strategic sourcing, while 11.7% of resumes included supplier performance, and 11.0% of resumes included supply chain. Procurement Training, Purchasing Training, Supply Chain Management Training - Click to Watch Now! Directors of strategic sourcing make the most in Alaska with an average salary of $144,474. View 17 Director Of Strategic Sourcing Jobs, View 135 Director Of Strategic Sourcing Jobs, View 175 Director Of Strategic Sourcing Jobs, Sourcing Marshalls, Clothing & Shoes HAUL, Camera Score! In fact, the strategic sourcing manager title has steadily been gaining prominence over the last decade. As a Strategic Sourcing intern, you will support the execution of the sourcing strategy by researching and analyzing information that impacts the supply chain such as strategy implementation, vendor onboarding, and communication. Meanwhile, many directors of strategic sourcing also have previous career experience in roles such as director, procurement or director of purchasing. Traditional Career Paths. You want to become a Director Strategic Sourcing but you don't know where to start? Whether they're buying products or services, strategic sourcing managers are responsible for selecting vendors capable of delivering what's needed when it's needed … Hard skills like these are helpful to have when it comes to performing essential job responsibilities. to understanding how each procurement project can create a ripple effect with a far-reaching impact, , as an approach to procurement, has been around since the 1980s. Likewise, they. In depth knowledge and understanding of Microsoft … Optimize procurement processes The person in this role is ultimately responsible to business stakeholders and may have to present recommendations to stakeholders for approval. They use these relationships, along with data analytics, to solve problems and achieve business goals, As you might expect, the role focuses on using strategic sourcing principles in the procurement process, , they consider each factor that influences a vendor’s, Strategic sourcing manager vs. procurement manager, So, what’s the difference between a strategic sourcing manager and a. Ultimately, the goal is to maximize value and minimize risk. Ideal fields of study include supply chain management, operations or industrial engineering. Strategic sourcing managers rely on a number of tools and resources. A strategic sourcing manager selects, evaluates and manages vendor partnerships. For example, in addition to the cost and quality of a product or service, they take into account the benefit or risk of partnering with a vendor, their reliability, the long-term compatibility, intangible value and much more. When we researched the most common majors for a director of strategic sourcing, we found that they most commonly earn master's degree degrees or bachelor's degree degrees. Use vendor management best practices throughout negotiation, contracting, onboarding and renewal. Likewise, supply chain career paths are expansive and diverse, especially when you factor in the fact … Strategic Sourcing Analyst. Sourcing a New Career Path in Sustainable Supply Chains Simon Perry, Global Sustainable Palm Oil Sourcing Manager, Johnson & Johnson Simon Perry knew he was making a big investment of time and money when he enrolled in the MBA program at Cranfield School of Management in the UK. Importantly, all of these jobs are paid between 15548 (13.5%) and $61,309 (44.3%) more than the average Director Of Strategic Sourcing salary of $107,703. Other factors such as company size and industry play a role in determining an individual’s pay. In addition, depending on the size of the business, they may work alone or manage a team of direct reports. Share your experience anonymously. Strategic sourcing, as an approach to procurement, has been around since the 1980s. So, what’s the difference between a strategic sourcing manager and a procurement manager? Lead initial market research and vendor profiles to aid supplier selection. Background and/or previous experience within consulting, sourcing or procurement preferred. Salary estimates are based on 3,200 salaries submitted anonymously to Glassdoor by Strategic Sourcing Analyst employees. Strategic Sourcing & Procurement Career Paths Procurement Lifecycle. Adjust Employee Salary . Director Of Global Sourcing Career Paths As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Enterprise resource planning (ERP) systems, Guide to the request for information (RFI), Request for proposal template best practices guide, Sourcing and Procurement – LinkedIn group, The Strategic Sourceror – Procurement blog, Supply Chain Dive – Procurement publication, : Purchasing professional, purchasing manager, green purchasing and purchasing consultant certifications, Chartered Institute of Procurement and Supply, : Six qualifications for various skills and levels of expertise, : Procurement and supplier diversity certifications, Job description example for a strategic sourcing manager, 8700 State Line Road, Suite 250, Leawood, KS 66206. Consequently, strategic sourcing roles are here to stay. Even though most directors of strategic sourcing have a college degree, it's impossible to become one with only a high school degree or GED. Strategic Sourcing Manager Tasks Hire, train, and manage sourcing team. There are certain skills that many directors of strategic sourcing have in order to accomplish their responsibilities. By definition, the role develops an understanding of big-picture objectives and business strategy. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four. 4,231 open jobs for Strategic sourcing. Companies rely on strategic sourcing managers to maximize the value of business-focused purchases. Show a millennial this type of career path and you’ll have a better chance of getting today’s best, brightest, most energetic, and most energetic talent on your procurement team. Analyze procurement data By definition, the role develops an understanding of big-picture objectives and business strategy. Partner with stakeholders, executive leaders and department heads to understand business needs. Individualize employee pay based on unique job requirements and personal qualifications. They use these relationships, along with data analytics, to solve problems and achieve business goals. As you might expect, the role focuses on using strategic sourcing principles in the procurement process. Strategic Planning Analyst III. Today, the strategic sourcing manager role is most often found in large enterprise businesses. Supply Chain Management Careers are some of the most expansive and diverse disciplines within the business world as it encompasses a broad array of interconnected activities and functions that enable commerce, such as procurement, logistics, inventory planning, order fulfillment, and manufacturing. In this situation, it is a mid-level management position. The national average salary for a Strategic Sourcing Analyst is $59,701 in United States. At the same time, the change may show an industry trend ⁠— the move from tactical to strategic sourcing. Learn more about the Co-Op, Strategic Sourcing position now! The role manages processes and policies while guiding the work of procurement managers. The experience and visibility naturally lead to advancement. For example, they could start out with a role such as vice president, progress to a title such as senior vice president and then eventually end up with the title senior vice president. A unique benefit of a growing firm is that your advancement is based on your own performance, so the only thing holding you back is you! Accordingly, familiarity with these tools will give you a leg up as you seek strategic sourcing manager opportunities. A strategic sourcing manager selects, evaluates and manages vendor partnerships. Oversee e-procurement and digital transformation initiatives. Background and/or previous experience within consulting, sourcing or procurement preferred. Use Zippia's Salary Calculator to see how your pay matches up. Generally, strategic sourcing managers are a part of the procurement team within the finance and operations department. Their job duties include working with suppliers and vendors to negotiate contracts and improving processes related to receiving parts and inventory. We discovered that a lot of resumes listed decisionmaking skills, analytical skills and math skills. Whereas in Washington and New Jersey, they would average $144,159 and $139,329, respectively. Career Path for Strategic Sourcing Analyst. Director Of Strategic Sourcing You can read more about how BLS calculates location quotients. Perform regular reviews of established procurement processes to ensure continual improvement. Strategic sourcing is a process that moves an organization away from numerous individual procurements toward a broader aggregate approach. In addition to understanding how each procurement project can create a ripple effect with a far-reaching impact. Then, establish requirements, scope and criteria for procurement projects. Complete the form and we'll be in touch soon to schedule time with you. In the future, the practice of strategic sourcing will continue to grow as businesses prioritize more meaningful vendor relationships and long-term value. For instance, many start their career as a category manager, procurement manager, sourcing specialist or supply chain manager before growing into the strategic sourcing … Most strategic sourcing managers move into the position after at least three years in another procurement role. In depth knowledge and understanding of Microsoft … For example, they could start out with a role such as vice president, progress to a title such as senior vice president and then eventually end up with the title senior vice president. In this essential course, you’ll learn how to develop and implement a procurement strategy that aligns with your overall competitive strategy. Certainly, there are many traditional, straight-forward hard skills involved, but there are also a number of nuanced, but still crucial, soft skills needed for success. You will report into the Data Analytics Manager and we be responsible for working with category sourcing experts to spec, design, build and support category and supplier … She works closely with both colleagues and customers to find creative ways to solve RFP challenges. Average Salary for a Director Of Strategic Sourcing, Top Skills For a Director Of Strategic Sourcing, See All Director Of Strategic Sourcing Skills, Best States For a Director Of Strategic Sourcing. Indeed, many move on to become a senior strategic sourcing manager, director of sourcing strategy or vice president of strategic sourcing. A well-known telecoms provider as a director of strategic sourcing roles are here to stay a. In Washington and new Jersey, and Vice President of strategic sourcing managers rely on strategic sourcing you... 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