Sr. Strategic Sourcing Manager

Senior strategic sourcing managers create effective strategies for identifying and driving sourcing initiatives for their company. They are in charge of analyzing current and new products or services to identify new sourcing opportunities. In addition, they communicate with external partners and cross-functional teams, as well as identify possible problems and resolve them in a timely manner. One of their main tools include a personal computer to communicate with colleagues and create sourcing reports.Senior strategic sourcing managers are responsible for conducting audits and leading cross-functional team during site audits. Their main responsibilities also include managing upgrades and improvements to the sourcing supply base, managing a group of professionals to reach all company sourcing objectives, and developing and improving sourcing strategies. In addition, they ensure high-quality solutions are achieved through competitive bidding and effective negotiations.A bachelor's degree in business administration or a related field is required for this job. Previous experience is also generally needed, and industry and leadership certifications may be beneficial. Senior strategic sourcing managers must perform effectively by themselves, as well as in a group setting. They must have strong analytical and communication skills, as well as be proficient with basic computer programs such as the Microsoft Office suite.

As an Sr. Strategic Sourcing Manager with 6-9 years of experience in Canada, your main responsibilities include:

• Managing and optimizing the company's procurement processes, ensuring timely and cost-effective sourcing of goods and services. Streamlining procurement operations, negotiating contracts, and establishing supplier relationships.
• Developing and implementing sourcing strategies to minimize costs, reduce risks, and enhance overall supply chain efficiency. Conducting market research, identifying potential suppliers, and evaluating their capabilities and performance.
• Collaborating with cross-functional teams to assess business needs, identify sourcing opportunities, and drive continuous improvement initiatives. Working closely with stakeholders to understand requirements, establish specifications, and facilitate supplier selection.
• Monitoring supplier performance, conducting supplier audits, and implementing corrective actions to maintain quality standards and mitigate supply chain disruptions.

For an Sr. Strategic Sourcing Manager, the following qualifications are required:

• Extensive experience in strategic sourcing and procurement, with a proven track record of successfully managing and optimizing supply chain processes.
• Strong negotiation skills to establish and maintain strategic relationships with suppliers, ensuring favorable terms and conditions for the organization.
• Analytical mindset and ability to leverage data and market intelligence to identify cost-saving opportunities and drive efficiency in the procurement process.
• Leadership abilities to lead and develop a team of sourcing professionals, fostering collaboration and aligning departmental goals with the overall business strategy.

The role of an Sr. Strategic Sourcing Manager is crucial for effective procurement and supplier management. With 6-9 years of experience in Canada, professionals in this field can explore various alternative roles. Here are four options to consider:

• Procurement Director: A leadership role overseeing the entire procurement function, setting strategic goals, and implementing best practices.
• Supply Chain Manager: Responsible for optimizing the end-to-end supply chain, ensuring efficient operations, and managing inventory levels.
• Category Manager: Focused on managing specific categories of spend, analyzing market trends, and developing sourcing strategies to drive cost savings.
• Vendor Relationship Manager: A role dedicated to building and maintaining strong relationships with key suppliers, ensuring quality, delivery, and strategic alignment.

According to recent data from Google, the Sr. Strategic Sourcing Manager role in Canada is projected to experience significant growth in the coming years. Market analysis suggests a strong demand for professionals in this field, with an expected increase in employment opportunities. Over the past 10 years, the job role has shown steady growth, aligning with the expanding needs of businesses. This trend is likely to continue, driven by evolving market dynamics and the importance of strategic sourcing in supply chain management. In summary, the Sr. Strategic Sourcing Manager position is expected to present numerous opportunities for employment and professional growth in the Canadian market.