As a Supply Chain Sourcing Specialist, you will play a vital role in optimizing our company's procurement processes by identifying, evaluating, and engaging with suppliers to ensure the timely delivery of quality goods and services at competitive prices. You will work closely with internal stakeholders to understand their requirements and develop sourcing strategies that align with business objectives while mitigating risks. Your expertise in negotiation, supplier relationship management, and market analysis will be essential in driving cost savings, efficiency improvements, and supplier performance excellence.Responsibilities:Supplier Identification and Evaluation:Conduct market research to identify potential suppliers/vendors.Evaluate suppliers based on factors such as quality, price, delivery reliability, and sustainability practices.Assess supplier capabilities, financial stability, and capacity to meet our company's requirements.Sourcing Strategy Development:Collaborate with internal stakeholders to understand their sourcing needs and requirements.Develop and implement sourcing strategies that optimize cost, quality, and lead times.Identify opportunities for consolidation, standardization, and strategic partnerships to enhance efficiency and mitigate risks.Negotiation and Contract Management:Negotiate pricing, terms, and contracts with suppliers to achieve favorable terms and conditions.Drive cost savings initiatives through negotiation, volume discounts, and value engineering.Draft and review contracts, ensuring compliance with legal and regulatory requirements.Supplier Relationship Management:Cultivate strong relationships with key suppliers to foster collaboration, trust, and long-term partnerships.Monitor supplier performance against established KPIs and SLAs, addressing any issues or concerns proactively.Conduct regular supplier audits and assessments to ensure compliance with contractual obligations and quality standards.Continuous Improvement:Identify opportunities for process optimization, cost reduction, and risk mitigation within the supply chain.Implement best practices and tools to streamline sourcing processes and enhance efficiency.Stay abreast of industry trends, market dynamics, and emerging technologies to drive innovation and competitive advantage.