Our Sourcing Specialist job description includes the responsibilities, duties, skills, education, qualifications, and experience.
About the Sourcing Specialist role
A Sourcing Specialist is responsible for managing the acquisition of goods and services in support of an organization's operations. This position assists in the development and execution of sourcing strategies, conducting research and analysis of potential suppliers, negotiating favorable terms and pricing, and monitoring supplier performance. The Sourcing Specialist also ensures compliance with applicable laws, regulations, and organizational policies.
Role Purpose
The purpose of a Sourcing Specialist is to identify, evaluate, and prioritize potential suppliers to provide the best quality products and services to a company at the most competitive prices. This role requires excellent research and negotiation skills, as well as a deep understanding of the company's purchasing process. The Sourcing Specialist is also responsible for evaluating potential suppliers, establishing delivery timelines, and developing and negotiating contracts. Additionally, this role requires knowledge of market trends, pricing, quality assurance, and supplier management.
Sourcing Specialist Summary
The Sourcing Specialist is responsible for developing and executing sourcing strategies to identify, qualify and evaluate new suppliers for a range of products and services. The Sourcing Specialist will negotiate pricing and contractual arrangements, manage supplier relationships and coordinate supplier selection. The successful candidate will possess excellent communication and problem-solving skills, an in-depth knowledge of the procurement process and the ability to work in a fast-paced environment.
The Sourcing Specialist will work closely with internal stakeholders, such as purchasing, sourcing and operations teams, to ensure that all sourcing activities are aligned with the company's objectives. Additionally, the Sourcing Specialist will ensure that all suppliers meet the company's quality and compliance standards.
The successful candidate will have a Bachelor's degree in Supply Chain Management, Business, Economics or a related field. Previous experience in a similar role is highly beneficial.
Sourcing Specialist Duties
- Identify and assess potential vendors
- Negotiate contracts and manage supplier relationships
- Conduct research to identify new suppliers and cost savings opportunities
- Monitor supplier performance to ensure compliance with contractual terms
- Ensure compliance with relevant laws and regulations
- Develop sourcing strategies to maximize efficiency and cost savings
Sourcing Specialist Skills
- Research
- Negotiation
- Supplier Relations
- Vendor Management
- Contracting
- Data Analysis
Sourcing Specialist Requirements
- Bachelor's degree in Business, Economics, or related field
- At least 3 years of experience in sourcing and procurement
- Excellent communication, negotiation, and problem-solving skills
- Strong organizational, research, and analytical skills
- Knowledge and experience of global sourcing and market trends
Personal Traits
- Strong organizational skills
- Excellent communication and interpersonal skills
- Ability to multitask
- Ability to work in a fast-paced environment
- Ability to build relationships with vendors
- Ability to negotiate favourable terms
- Attention to detail