Sourcing Analyst I

The Role Summary of Job Description The Procurement Sourcing & Contracts Analyst plays a vital role in driving sourcing initiatives, focusing on contract negotiations and management for the procurement of goods and services. This position involves building robust relationships with stakeholders and suppliers to enhance collaboration within their designated categories. The analyst will actively support the execution of AvalonBay’s strategic sourcing process, contributing significantly to achieving our annual savings targets. By employing best practices in sourcing and procurement, this role ensures value creation for internal stakeholders while optimizing supplier performance and fostering continuous improvement in procurement strategies. Essential Duties and Responsibilities: Execute tactical activities such as developing and distributing RFX proposal packages, analyzing and evaluating proposals, conducting financial analyses (including Total Cost of Ownership), and preparing award recommendations under the direction of a strategic lead. Collaborate with a strategic lead to negotiate pricing, terms, and conditions, while effectively managing supplier performance. Engage with suppliers to maximize value, manage expectations, and ensure adherence to performance standards, including KPIs, business reviews, and issue resolution. Interface with various internal stakeholders to understand business needs, ensuring that suppliers meet those requirements effectively. Prepare presentations that summarize bids and proposals received from suppliers, incorporating comprehensive pricing analyses and final recommendations for review by the respective manager before communicating with internal stakeholders. Assist in developing and managing budgets for assigned categories, delivering insights to stakeholders and monitoring contract performance and rebates with suppliers. Support spend analysis for assigned categories, working with team leadership to identify potential cost reduction opportunities. Plan and execute supplier rollouts to the business to ensure smooth implementation. Monitor industry trends within managed categories to stay informed about current market developments and initiatives. Minimum Requirements: Education: Bachelor’s degree with a concentration in Finance, Business Administration or Supply Chain Management preferred, or equivalent experience. Experience: 3-7 years’ experience in Contracts, Sourcing or other Procurement related experience required. Knowledge, Skills and Abilities: Possesses knowledge of procurement, negotiations, contract management, supplier management and finance. Demonstrated project management skills, and ability to prioritize work. Analyzes qualitative and quantitative information from stakeholders and suppliers. Excellent written and oral communication skills and exceptional organizational skills. A self-starter, that works well independently and as part of a team. Support an environment that fosters teamwork, collaboration, flexibility, and change acceptance. Preferred Qualifications: Procurement/sourcing experience in the Hospitality or Multi-family industry a plus Understanding of Enterprise Resource Planning (ERP) systems and Source-to-Pay systems. Familiarity with MS Teams

Salary : $62,000 - $79,000