Sr. Strategic Sourcing Specialist

Direct Digital LLC•West Valley City, UT

About The Position

This role is responsible for the long-term development and management of key supplier relationships to optimize value through cost reduction, innovation, avoidance of supply disruption, risk mitigation and growth throughout supplier relationship life cycle. In-depth knowledge of raw material processing, such as plant cultivation, harvest seasons, and processing, along with finished good production processes is integral for sourcing, negotiating pricing, and establishing supply agreements. A strong working knowledge of cGMP regulatory requirements and Biovation Labs’ (BVL) technical manufacturing requirements is also necessary. This role includes assisting with Wellful Group’s R&D and Product Development Team in new product development and setting up the supply base to meet commercialization of new products. Domestic and international travel to supplier sites is required to assess their operations and perform supplier audits and reports, lock down long-term supply and to conduct face-to-face meetings to enhance relationship building, in addition to attending trade shows and other industry events. This role also includes ensuring that BVL suppliers meet and/or exceed regulations relating to Compliance, as well as the requirements defined in the Wellful Group’s Compliance Programs and Supplier Qualification Programs.

Requirements

Bachelor's degree in business, supply chain management, engineering, botany or related field or its equivalent
Requires a minimum of five to ten years of experience in supply chain or related field, and relevant experience in a logistics/supply chain role is required
Must have a track record of continuous improvement, reducing cost while improving quality and customer service metrics
Excellent knowledge of Lean and Six Sigma strategies
Sitting for long periods of time
Occasionally standing for long periods of time
Regularly lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds
Collaboration in an open office setting
Experience with cGMP regulations and dietary supplement/cosmetic/pharmaceutical supply chain is preferred.
Specialist knowledge of procurement concepts, global supply chain processes, activities, and trends
Work with custom brokers, U.S. Customs and FDA to clear imports
Experience with working with botanical farmers and collectors
Excellent negotiation skills with both large and small suppliers globally
Advanced analytical interpretation and problem-solving skills
Unimpeachable ethics
Leadership: a demonstrated ability to lead people and get results through others
Management: the ability to organize and manage multiple priorities
Excellent mastery of Excel, Access, Word, and other MS Office applications
MRP/ERP experience
Excellent organizational skills
Ability to communicate professionally with people at all levels of the organization and external contacts
Solid decision-making skills
Ability to provide technical leadership, coupled with people and project management skills
Business, communication, change management, and customer service skills

Nice To Haves

Master's degree preferred
Great Plains experience or like systems a real plus
ISM membership/certification or APICS membership/certification preferred but not required

Responsibilities

Develop and manage assigned key supplier relationships to deliver reliable product supply and total cost effectiveness while meeting or exceeding all customer service, compliance, product requirements, and key performance metrics.
Communicate, monitor, and manage compliance with the sourcing strategy or business process
Facilitate new vendor setup and vendor adherence to Company Compliance programs and initiatives, including providing annual Supplier Compliance Training and Certification and completing supplier risk assessments as needed
Establish close working relationships with other functions, (e. g. Quality, Manufacturing, Regulatory, Inventory, Product Development, Technical Manufacturing, and Marketing) to ensure full understanding and support of strategic sourcing perspective to key processes and address technical needs and regulatory requirements
Administer contracts for key suppliers
Track and manage performance of suppliers and ensure that performance issues are quickly addressed
Champion productivity improvements by leading internal and joint supplier teams pursuing cost reduction opportunities in alignment with sourcing strategy (e. g. lowering inventory levels, increasing yields, reduce material costs, operation improvement, etc.)
Manage key sourcing process steps, including opportunity assessment, strategy development, data analysis, supplier negotiation, award recommendations, and supplier contract execution
Identify and recommend opportunities to reduce costs and prepare for future growth
Responsible for bid process including reviewing bid proposals, negotiating contracts and prices with suppliers
Identify capacity gaps; recommend changes to sourcing; develop and maintain procurement/purchasing plans; submit and monitor purchase orders; prepare reorder point, out-of-stock, and other analyses to facilitate cost and service improvements
Establish, develop, and maintain relationships with vendors, supplier, and team partners to ensure effective communication of strategic and tactical issues; serve as a liaison between company sales team for demand planning/forecasting and supply chain partners
Initiate and lead cross-functional project teams; support timely project completion through performance measurement reports and forecasting process development and improvement
Initiate and lead the development of short- and long-term supply plans to balance the demand forecast with cost, efficiency, and capacity constraints; optimize the flow of product through the supply chain
Use planning system tools to effectively and efficiently create tactical and strategic inventory and supply solutions
A very hands-on position that will require strong business acumen, excellent people skills, and an ability to improve processes on a continuous basis
Requires in-depth MRP/ERP knowledge as well as demand planning and forecasting best practices with system limitations; experiences in developing and leading S&OP processes
Strategic sourcing is highly focused on world-class cost management and is responsible for managing costs through "could be" and "should be" cost structures, benchmarks, and supply chain/commodity analysis
Interact frequently with Engineering, Sales, Marketing, Manufacturing, Promotion and Events, and Product Development, providing cross-functional cost analysis in various worldwide locations, engineering resources, various suppliers, and supplier factories
Manage, identify, and solve supply chain issues
Follow globally developed standard supply chain work processes and best practices
Interact regularly with all departments of the company as required to identify, communicate, and help resolve accounting and operational issues
Negotiate value from multiple perspectives; e.g., purchase price and contractual terms and conditions, total acquisition cost, prioritization and timing considerations, alternative solutions and/or materials
Implement and measure supplier contracts and agreements to assure all suppliers are accountable
Help maintain inventories ensuring that Company funds are used efficiently, and adequate inventory is maintained to prevent product outages
Perform all other duties and special projects as assigned