Sourcing Analyst

The purpose of Strategic Sourcing Analyst is to provide sourcing activities that build value driven partnerships with a focus on risk management, reliability and cost effectiveness that support overall organizational strategies. You will perform analysis to support the development, execution and management of business partner portfolio purchases to identify opportunities for efficiencies, drive cost savings and manage/mitigate risk. The Strategic Sourcing Analyst will coordinate cross functional team discussions with representatives from business units for stakeholder alignment. You will be responsible for following documented processes/procedures to conduct supplier negotiations and contracting.

Job Responsibilities:

• Support company strategy, policy, processes, and data governance.
• Provide guidance to the business regarding the procurement of goods and services to ensure compliance with company procurement policies and industry best practice.
• Conduct market research to identify cost reduction strategies and favorable terms in order to drive fact-based purchasing decisions.
• Perform contract reviews to ensure responsibilities are clearly documented, acceptance criteria are present deliverables are identified, identify potential risk and favorable commercial terms.
• Identify leverage points to effectively negotiate pricing and commercial terms to build value driven Supplier partnerships.
• Partner with the applicable stakeholders within the organization to manage supplier relationships, define and mitigate the risk.
• Leverage procurement processes and software to gather and record accurate data points to aid in fact-based decisions for the future procurement of goods and services.

This position offers a hybrid work schedule and can be based out of our corporate offices in Bloomington, IL.

How does a Sourcing Analyst make an impact?

• Uses the 5-step sourcing process to guide the development, issuance, and evaluation of vendor proposals.
• Recommends and prepares documentation supporting an award decisions and negotiation strategies.
• Manages and mitigates supplier risk through the creation of risk assessments and mitigation plans, participates in ongoing risk management activities, document policies and standards, and promote vendor risk awareness.
• Identifies and manages strategic suppliers and agreements and implements strategies to address deficiencies in service and performance, and resolution of contractual disputes and audits.