Key Responsibilities:

Cost Analysis:

Analyze supplier pricing and identify potential cost reduction opportunities through market research, vendor comparisons, and negotiation strategies. Conduct cost-benefit analysis on different purchasing options to recommend the most financially advantageous choice. Track and monitor spending trends against budget to identify areas for cost optimization.

Contract Management:

Review and negotiate contract terms with suppliers to secure favorable pricing, payment terms, and delivery schedules. Monitor contract compliance and address any issues that may arise with support from compliance specialists. Develop and implement contract management processes to ensure efficient contract administration.

Supplier Evaluation:

Evaluate potential suppliers based on financial stability, quality standards, delivery reliability, and pricing competitiveness. Engage in supplier performance reviews to identify areas for improvement and address performance concerns. Develop and maintain a supplier or supplier category database with key financial and performance metrics.

Financial Reporting and Analysis:

Prepare regular financial reports on purchasing spend, cost savings, and key procurement metrics. Analyze purchasing data to identify trends and provide insights to inform strategic procurement decisions. Develop financial models to forecast purchasing costs and identify potential risks.

Budgeting and Forecasting:

Collaborate with cross-functional teams to develop procurement budgets and forecasts. Monitor budget variances and identify areas where adjustments may be necessary.

Project Support:

Collaborate with strategic sourcing managers and compliance specialists on pre- and post- award supplier and project management. Provide financial analysis support for new product launches, cost reduction initiatives, and other procurement-related projects. Conduct feasibility studies and develop financial projections for potential procurement projects.

Required Skills and Qualifications:

Bachelor's degree in Finance, Accounting, or a related field 2-3 years of relevant experience Strong analytical skills with proficiency in data analysis and financial modeling Excellent communication and negotiation skills to effectively interact with suppliers and internal stakeholders Experience with procurement systems and ERP software (e.g., Dynamics 365, NetSuite ) Strong understanding of financial principles and accounting practices Ability to work independently and as part of a cross-functional team Advanced proficiency in Microsoft Excel and data visualization tools