What does a Sourcing Specialist do?
Sourcing specialists analyze, organize, and improve sourcing processes for organizations, with the goal of streamlining operations and reducing costs. They scrutinize existing procurement systems, vendor agreements, logistical arrangements, and workflow systems. They pinpoint areas of inefficiency or opportunities for potential cost savings. They compare pricing for needed products and supplies, and negotiate with vendors and competitors. They manage requests for proposals and bidding processes. They establish and nurture relationships with key suppliers to ensure competitive pricing. They devise creative or alternative approaches to bundling procurement services or customizing orders for more favorable terms.
Sourcing specialists typically have a bachelor’s degree in a business field, and commonly have a background in sourcing or procurement. Strong negotiation skills are an asset. Requires proficiency with common office software programs.
- Work with network planning and engineering teams on direction for upcoming transport design programs.
- Serve as the local owner for sourcing for the assigned commodity(s) and business segments.
- Partner with key business stakeholders to ensure sourced material and services meet the needs of the business.
- Review and red line incoming software or service renewals, amendments, schedules and work orders.
- Manage supplier relationships and opportunities for cost-out and product/supplier improvement, while ensuring production, delivery, and capacity requirements for all commodities.
- Develop and execute strategies for sourcing, supplier management, negotiation, productivity, and customer and supplier relationships.
- Develop written project plans, including master schedule, and manage status updates.
- Perform detailed cost analysis of components and manufacturing processes used by our suppliers to ensure highest quality at the lowest cost solution.
- Negotiate with external suppliers and internal stakeholders. conduct problem resolution and settle disputes, develop win/win solutions, and promote positive relations.
- Achieve the best contractual conditions while also ensuring internal customer satisfaction.
- Negotiate contracts to include pricing, terms, lead times to optimize total value of ownership.
- Collaborate effectively across different organizational levels, sites, functions, businesses, and regions to realize sourcing goals and objectives.
- Act as Procurement liaison for specified new product launches and manage corresponding sourcing activities to meet project cost and timeline goals.
- Overall management of several concurrent projects and network-related transport initiatives that are high profile, technically complex and unique in nature.
- Track network projects as it pertains to the transport team such as path diversification, cost reduction Initiatives, cell availability evaluations, equipment decommissioning, facility migration, etc..
- Bachelor's or Graduate's Degree in engineering, information systems, supply chain or business, or equivalent experience.
- Demonstrated negotiation, problem solving, and leadership skills.
- Experience with enterprise resource planning.
- Comfortable onboarding, collaborating, and decision making.
- Experience with RFP/RFI systems and processes.
- Has an eye for continuous improvement.
- A natural time manager with the ability to manage a robust pipeline and pay attention to detail.
- Can deploy adaptability and critical thinking.
- Comfortable with talent sourcing protocols.
How much does a Sourcing Specialist make?
Base Pay
Additional Pay
$62,669
/ yrSourcing Specialist Career Path
Learn how to become a Sourcing Specialist, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Sourcing Specialist Insights
Resource Solutions“The culture is heart warming and it gives us better opportunities in growing with our career.”
XPO“Management isn't the best they expect so much from us but same attitude is not expected of them.”
Korn Ferry“Good for career shifters and fresh graduates”
Microchip USA“personal and professional development here”
Vertex Global Services“When I have resigned from this organisation they hold my 2 months salary and didn't pay back”
CenterPoint Energy“Flexible and able to advance in career.”
Intel Corporation“I just need a guide and training to upgrade my skill in my current role.”
Day & Zimmermann“From my first day I was encouraged to bring forward my ideas for innovation and optimization.”
Frequently asked questions about the roles and responsibilities of a Sourcing Specialist
- Sourcing Manager
- Supply Chain Manager
- Supply Chain Specialist
- Supply Chain Analyst