What are the responsibilities and job description for the Strategic Sourcing Specialist position at CTI?
Description
The Strategic Sourcing Specialist is responsible for identifying, evaluating, and securing the best suppliers and vendors to meet CTI’s procurement needs. The Strategic Sourcing Specialist will work closely with the production and engineering team to ensure that the organization is obtaining the right materials, products, and services at the most competitive prices while maintaining high-quality standards.
Essential Duties and Responsibilities:
- Conduct market research to identify potential suppliers and vendors, and evaluate based on quality, price, reliability, and capacity.
- Maintain a database of approved suppliers and vendors.
- Negotiate terms and pricing with suppliers to secure the best deals.
- Ensure contracts and agreements are clear, accurate and support the company.
- Address any supplier-related issues or disputes to maintain a positive relationship.
- Work with cross-functional teams to understand business needs and develop sourcing strategies.
- Develop and implement cost-effective sourcing strategies that align with company goals.
- Stay updated on industry trends, market conditions, and innovations in sourcing practices.
- Build and maintain strong relationships with key suppliers.
- Monitor supplier performance to ensure that they meet quality standards, delivery schedules, and other contractual obligations.
- Conduct regular supplier performance reviews.
- Identify and mitigate risks related to supply chain and sourcing process; ensure compliance with legal, ethical, and environmental standards in sourcing activities.
- Address any issues in sourcing that may disrupt production or delivery schedules.
- Track and manage sourcing budgets to ensure spending stays within company limits.
- Analyze procurement data to identify cost-saving opportunities and implement cost-reduction strategies while ensuring the quality of products and services is not compromised.
- Prepare and maintain detailed reports on sourcing activities, supplier performance, and cost savings.
- Monitor inventory and purchasing metrics, and report on supply chain issues or improvements.
- Assist department and company leadership on special assignments and projects.
Requirements
- Bachelor’s degree in Supply Chain Management, Business Administration, or a related field/experience (required); a professional certification is a plus.
- 3-5 years of experience in procurement, sourcing, or supply chain (required).
- Two (2) years of experience with electronics component sourcing (preferred).
- Excellent verbal and written communication and negotiation skills.
- Strong analytical and problem-solving skills.
- Strong leadership and interpersonal skills.
- Proficient with Microsoft Office Suite.
- Proficient in supply chain management software and tools.
- Willingness to travel to supplier sites, warehouses, tradeshows, and/or distribution centers as needed.
