What are the responsibilities and job description for the Strategic Purchasing Specialist position at CMWA?
Company Overview:
At CMWA, we are a leading manufacturer of automotive components dedicated to delivering innovative solutions to our customers. As we continue to grow and expand our operations, we are seeking a highly skilled and motivated individual to join our dynamic procurement team. This role offers an exciting opportunity to contribute to our cost savings initiatives while optimizing our supply chain and enhancing overall profitability.
Position Summary:
As the Strategic Purchasing Specialist, your primary responsibility will be to develop and implement cost-effective procurement strategies that maximize cost savings without compromising on quality or delivery timelines. You will collaborate closely with cross-functional teams to identify and execute strategic sourcing initiatives. Your expertise in negotiating contracts, analyzing market trends, and leveraging supplier relationships will be crucial in driving our cost reduction efforts and achieving our financial objectives.
Key Responsibilities:
- Develop and execute strategic sourcing plans to identify cost savings opportunities across multiple spend categories, including raw materials, services, and indirect goods.
- Conduct thorough market research and analysis to identify potential suppliers, evaluate their capabilities, and negotiate favorable pricing and contractual terms.
- Collaborate with internal stakeholders to understand their specific requirements and align procurement strategies with their business goals and objectives.
- Drive competitive bidding processes, evaluate proposals, and select suppliers based on a comprehensive evaluation of cost, quality, reliability, and performance.
- Lead contract negotiations, focusing on achieving optimal pricing, terms, and conditions, while minimizing risk and ensuring compliance with legal and regulatory requirements.
- Monitor and analyze market trends, industry dynamics, and emerging technologies to proactively identify opportunities for cost savings and process improvements.
- Develop and maintain strong relationships with key suppliers, fostering partnerships to drive mutual benefits and secure favorable terms and conditions.
- Monitor and manage supplier contracts, including renewals, amendments, and terminations, while maintaining accurate and up-to-date records.
- Seek out ways to reduce waste in administrative processes to replace that time with strategic work.
Qualifications & Skills:
- Bachelor's degree preferably in business, supply chain management, or a related field. A master's degree is a plus.
- Ideally, 3-5 years of experience in procurement, strategic sourcing, or supply chain management, with a proven track record of delivering cost savings initiatives.
- Strong analytical skills with the ability to interpret complex data and market trends to drive strategic decision-making.
- Excellent negotiation, communication, and interpersonal skills, with the ability to build and maintain strong relationships with internal stakeholders and suppliers.
- Proficiency in using ERP or other procurement software and tools to support sourcing activities and contract management.
- Self-motivated and results-oriented, with the ability to work independently and manage multiple priorities in a fast-paced environment.
- Knowledge of industry-specific regulations, compliance requirements, ethical sourcing practices, and risk mitigation strategies.
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Referral program
- Vision insurance
Education:
- Bachelor's (Preferred)
Experience:
- Negotiation: 3 years (Preferred)
Work Location: In person