Strategic sourcing managers are responsible for directing and analyzing how a business spends money. Their ultimate goal is to make sure the business is cost effective so it maintains higher profit margins and a competitive advantage. The research that strategic sourcing managers conduct drives the purchasing decisions for the business. They are expected to rigorously locate and analyze new opportunities and developments for the business. When plans are adopted, these managers also may have to lead conversion management within their organization.
Strategic Sourcing Manager Tasks
Hire, train, and manage sourcing team.
Negotiate with suppliers and vendors for contracts for timely supplies at fair prices and in compliance with regulations.
Manage procurement and sourcing policies and activities, including overseeing specific contracts.
Conduct market research, create estimates and forecasts, and identify cost reduction strategies.