Procurement Analyst - Global Sourcing & Innovation

Novolex•Lake Forest, IL

3d•$70,000 - $79,000•Hybrid

About The Position

Novolex is seeking a highly analytical, strategic, and results-driven Procurement Analyst to join the Procurement Center of Excellence (COE) Analytical Team, supporting Global Sourcing & Innovation. This role will serve as a critical business partner across Procurement, Finance, Operations, Supply Chain, Quality, and Commercial teams to drive cost optimization, sourcing strategy, innovation commercialization, and enterprise make-vs-buy decision support. The ideal candidate will combine strong financial acumen, data analytics expertise, sourcing knowledge, and operational understanding to develop actionable insights that improve Purchased Finished Goods (PFG) performance, support strategic sourcing initiatives, and enhance enterprise-wide procurement effectiveness. This position will play a key role in building scalable procurement analytics, supporting annual operating plan (AOP) development, improving sourcing governance, and accelerating value creation across Novolex’s global supply network.

Requirements

3–7 years of experience in procurement, strategic sourcing, supply chain analytics, finance, or operations analysis.
Strong financial modeling and cost analysis experience.
Advanced Excel capabilities, including: Complex formulas, Pivot tables, Scenario modeling.
Experience with ERP systems, procurement platforms, or business intelligence tools (e.g., SAP, Coupa, Power BI).
Strong understanding of global supply chains, landed cost modeling, and sourcing processes.
Ability to manage multiple complex projects in a fast-paced environment.

Nice To Haves

Experience in manufacturing, packaging, foodservice disposables, or consumer products.
Knowledge of tariffs, trade compliance, AD/CVD, and global logistics.
Experience with RFP execution and supplier bid analysis.
Exposure to Make vs Buy strategy, network optimization, or supply chain transformation.
Power BI, SQL, or advanced analytics tools.

Responsibilities

Develop, maintain, and continuously improve comprehensive Landed Cost of Goods Sold (LCOGS) models for all Purchased Finished Goods categories.
Analyze and break down total product cost components, including: Supplier product cost, Raw material inputs, Tariffs, duties, AD/CVD exposure, Ocean freight, Inland freight, Packaging costs, Warehousing impacts, FX and regional cost drivers.
Monitor material cost trends, global supply market conditions, and budget assumptions.
Support monthly, quarterly, and annual cost forecasting processes.
Provide financial variance analysis against AOP, budget, and forecast.
Support development, execution, and analysis of global RFPs across purchased finished goods categories.
Normalize supplier proposals and evaluate exact-match versus like-item alternatives.
Partner with sourcing managers to compare specifications, performance requirements, tooling, and cost competitiveness.
Conduct supplier bid analysis, total cost comparisons, scenario modeling, and award recommendations.
Track sourcing project savings, implementation timelines, and risk mitigation opportunities.
Support Procurement and business teams in AOP development by modeling material cost assumptions and sourcing strategies.
Monitor ongoing changes to: Material markets, Freight markets, Tariffs and duties, Supplier pricing, Currency fluctuations.
Build reporting dashboards that measure cost impacts versus budget.
Support leadership with MBR, QBR, and ELT reporting.
Support enterprise Make vs Buy processes by developing financial models and business cases in partnership with plant operations, supply chain planning, and finance.
Analyze: Internal manufacturing costs, External sourcing costs, Capacity utilization, Capital requirements, Network optimization scenarios, Co-packing opportunities.
Support supplier scorecards, SRM analytics, and supplier performance tracking.
Monitor supplier risk related to: Trade compliance, Geographic concentration, Cost inflation, Capacity constraints, Quality trends, Ethical sourcing, labor practices, and responsible supply chain compliance.
Support supplier sustainability, compliance, and social responsibility initiatives, including management and tracking of SEDEX/Supplier Ethical Data Exchange requirements, SMETA audits, and responsible sourcing documentation.
Build dashboards, scorecards, and analytics tools using ERP, Coupa, Power BI, Excel, and other procurement systems.
Improve data visibility and reporting automation across procurement operations.
Support procurement process improvement and COE capability development.
Help establish scalable best practices for sourcing analytics and procurement governance.