What does a Strategic Sourcing Manager do?

Strategic sourcing managers analyze indirect procurement expenditures by sourcing strategic supply partners, developing sourcing policies, and creating cost estimates and forecasts while simultaneously negotiating equitable and cost-effective supply contracts. They evaluate sourcing procedures and present potential improvement strategies to senior management for review and, ultimately, approval. They analyze and calculate procurement costs and develop cost-reduction strategy proposals. They drive purchasing decisions based on cost and scenario analysis and market trends and negotiate contracts with key suppliers keeping cost, terms of service, supply, and quality in mind.

Strategic sourcing managers collaborate with procurement departments to identify and pursue new suppliers or vendors’ opportunities and conduct market research, cost estimates, and forecasts. Strategic sourcing managers hire, train, and manage procurement department employees to estimate risk while applying risk management techniques and ensuring contracts comply with industry regulations. They maintain strategic sourcing relationships and develop strong partnerships with suppliers. Strategic sourcing managers need a bachelor's degree in business, economics, finance, or related fields.

What responsibilities are common for Strategic Sourcing Manager jobs?
  • Improve the supply chain performance through improved supply chain planning practices.
  • Manage competitive sourcing processes, RFPs, supplier selection, and contract processes.
  • Understand the technology roadmap of critical suppliers and communicate throughout the organization with a formal commodity strategy.
  • Manage supply base to ensure supply continuity, service, and quality.
  • Personnel management skills to build team and individual skills and job satisfaction.
  • Is a cornerstone of the organization, focusing on direct procurement support for vehicle related projects.
  • Manage inventory to minimize risk and increase turn and cash flow.
  • Provide leadership and direction for multiple operational units or disciplines through directors may manage managers.
  • Comply with policies related to financial policies, procurement policies, confidentiality and risk management policies and communicate policies to suppliers and stakeholders to minimize risks.
  • Partner with sales to improve economics and execution on deals and ongoing businesses.
  • Identify new technologies and solutions for internal business partners.
  • Establish relationships with suppliers to partner on strategy development and drive productivity, innovation, and continuous improvement.
What are the typical qualifications for Strategic Sourcing Manager jobs?
  • Bachelor's Degree or higher in business, computer science, or engineering.
  • Skilled in sourcing, negotiation, market/product/supplier analysis, and contract formulation.
  • Exemplary leadership, collaboration, and problem-solving capabilities.
  • Strong time management skills.
Education--
Work/Life Balance
3.7 ★
Salary Range--
Career Opportunity
3.7 ★
Avg. Experience2-4 years

Strategic Sourcing Manager Salaries

Average Base Pay

$119,578 /yr
Same as national average
Not including cash compensation
See More Insights
$86K
Median: $120K
$166K
See More Insights
Glassdoor Estimated Salary

Strategic Sourcing Manager Career Path

Learn how to become a Strategic Sourcing Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.

Strategic Sourcing Manager

Years of Experience Distribution

0 - 1
2%
2 - 4
47%
5 - 7
38%
8+
13%
Not including years spent in education and/or training

Strategic Sourcing Manager Insights

Read what Strategic Sourcing Manager professionals have to say about their job experiences and view top companies for this career.
TE ConnectivityTE Connectivity
Strategic Sourcing Manager
Oct 21, 2022

“good work life balance and learning”

AMITAMIT
Strategic Sourcing
May 19, 2022

“Good and Friendly Enviroment to work.”

Bank of the WestBank of the West
Vice President, Strategic Sourcing
Aug 3, 2022

“I've been in the role for a year and I really enjoy working here.”

BlueModusBlueModus
Strategic Director
Apr 19, 2022

“life balance is the best I've seen in any industry I've been a part of.”

GenpactGenpact
Assistant Manager, Strategic Sourcing
Feb 23, 2022

“4. Good Place for career development and great learnings”

Guardian IndustriesGuardian Industries
Strategic Sourcing Manager
Feb 3, 2022

“Salary and compensation package not competitive.”

3D Systems3D Systems
Strategic Sourcing Engineer
Aug 24, 2022

“Great people to work with”

MarsMars
Strategic Sourcing Manager
Oct 4, 2022

“Great people to work with”

See More

Strategic Sourcing Manager Interviews

Frequently asked questions about the roles and responsibilities of a Strategic Sourcing Manager

The most similar professions to Strategic Sourcing Manager are:
  • Corporate Recruiter
  • Sourcer
  • Recruiter
  • Technical Recruiter

Related Careers

Corporate Recruiter
$66,615
No skills overlap
Sourcer
$70,441
No skills overlap
Recruiter
$56,905
No skills overlap
Technical Recruiter
$59,624
No skills overlap

Strategic Sourcing Manager Jobs