Director, Strategic Sourcing Salary
|Salary||$82,323 - $161,522|
|Bonus||$7,871 - $33,664|
|Profit Sharing||$0.00 - $34,392|
|Total Pay (||$85,203 - $186,888|
Job Description for Director, Strategic Sourcing
Directors of strategic sourcing provide executive leadership related to strategic procurement within their organization. Most of their work revolves around communicating with other employees and clients. These professionals are responsible for negotiating with executives in other organizations to achieve desired outcomes, attending internal meetings to develop strategic policy within the organization, and helping create and implement internal sourcing strategies. They must perform supplier management and development, as well as accurately asses suppliers' capabilities as they relate to company needs.Read More...
Additionally, directors of strategic management must monitor and evaluate existing procurement strategies to ensure they are as effective and efficient as possible; if any potential improvements are discovered, the director must oversee their development and implementation. Directors of strategic sourcing must have an in-depth knowledge of their field and use that insight to make sourcing decisions that positively impact their company.
Besides demonstrating outstanding communication, interpersonal, and negotiating skills, a minimum of a bachelor's degree is usually required for this position. Another typical requirement is at least 10 years' experience in corporate strategic sourcing. There is no physical labor involved in this position, and minimal safety hazards exist. Travel is often required.
Director, Strategic Sourcing Tasks
- Research vendors to determine which suppliers have the best prices, reliability, and quality.
- Manage a company's purchase of supplies and lead the development and implementation of procurement strategies.
- Supervise and direct the work of strategic sourcing personnel.
- Lead efforts to improve supply chain efficiency, maintain product quality standards, and reduce costs.
- Negotiate contracts with vendors for the purchase and delivery of goods.
Popular Skills for Director, Strategic Sourcing
Directors of Strategic Sourcing who responded to the survey report just a handful of professional skills. Most notably, skills in Negotiation, Procurement, Contract Negotiation, and Strategic Planning are correlated to pay that is above average. Skills that pay less than market rate include Vendor Management and Strategic Planning. Those educated in Contract Negotiation tend to be well versed in Negotiation.
Pay by Experience Level for Director, Strategic Sourcing
Pay by Experience for a Director, Strategic Sourcing has a positive trend. An entry-level Director, Strategic Sourcing with less than 5 years of experience can expect to earn an average total compensation of $100,000 based on 16 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Director, Strategic Sourcing with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $139,000 based on 38 salaries. An experienced Director, Strategic Sourcing which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $146,000 based on 97 salaries. A Director, Strategic Sourcing with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $156,000 based on 42 salaries.
Related Job Salaries
Key Stats for Director, Strategic Sourcing
Rated 5 out of 5
based on 19 votes.