Avg. Base Salary (USD)
The average salary for a Strategic Sourcing Manager is $68,986
What is the Pay by Experience Level for Strategic Sourcing Managers?
An early career Strategic Sourcing Manager with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $65,346 based on 5 salaries. An experienced Strategic Sourcing Manager with 10-19 years of experience earns an average total compensation of $96,519 based on 5 salaries.
What Do Strategic Sourcing Managers Do?
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 …Read more
- Manage procurement and sourcing policies and activities, including overseeing specific contracts.
- Conduct market research, create estimates and forecasts, and identify cost reduction strategies.
- Hire, train, and manage sourcing team.
- Negotiate with suppliers and vendors for contracts for timely supplies at fair prices and in compliance with regulations.