What are the responsibilities and job description for the Director of Sourcing position at Hy-Tek?
Hy-Tek Intralogistics
Job Description
Job Title: Director of Sourcing
Department: Operations
Supervisor: SVP of Operations
Job Purpose:
The Director of Sourcing will play a pivotal role in ensuring the smooth functioning of our organization's supply chain and sourcing processes. This leadership position will oversee the sourcing and negotiation of goods and services necessary for the organization's operations. The role demands strategic thinking, strong negotiation skills, and a deep understanding of market dynamics to optimize sourcing strategies and drive cost efficiencies.
Essential Duties and Responsibilities:
- Leadership
- Develop and implement a comprehensive sourcing strategy aligned with business goals.
- Lead category management, sourcing initiatives, and supplier strategies to drive value and innovation.
- Monitor global market trends to identify opportunities and mitigate risks.
- Support Product Management in the evaluation of new technologies based on specific data driven design criteria.
- Schedule and facilitate Periodic Business Reviews with key suppliers and support monthly sales update calls.
- Participate in sales opportunity and pricing meetings to guide supplier selection.
- Supplier & Contract Management
- Support Product Management in qualification of potential new suppliers, facilitate the onboarding of selected suppliers and manage termination of underperforming suppliers.
- Lead contract negotiations to achieve favorable terms and long-term value.
- Build and maintain strong supplier relationships to ensure quality, cost, and reliability.
- Maintain the supplier database including current contact information and agreement status, making certain that all contracts and agreements are current, tracking expiration dates and managing renewals.
- Manage supplier performance and resolve disputes or escalations.
- Manage any negotiated rebate programs or other savings initiatives with suppliers.
- Drive cost reduction initiatives through strategic sourcing, volume leverage, and process improvement.
- Partner with Product Management to establish a supplier evaluation and rating system.
- Operational Excellence
- Oversee day-to-day sourcing operations, ensuring timely and efficient sourcing of goods and services.
- Implement sourcing best practices, tools, and systems to enhance efficiency and compliance.
- Ensure adherence to legal, ethical, and corporate governance standards.
- Track and report on sourcing KPIs, including cost reduction, supplier performance, and process efficiency.
- Preparing and presenting reports on sourcing activities, including cost savings and supplier performance.
- Track and report various commodity and services prices through national indices. These may include, but not limited to, Steel on HRCM and AMM, Aluminum and Plastics on PPI, Oil and Freight among others.
- Identifying and implementing process improvements to enhance the efficiency and effectiveness of the sourcing function.
- Identify and mitigate sourcing and supplier risks to ensure supply chain continuity and resilience.
- Present a professional image to clients and partners
- Perform other duties as may be assigned
Knowledge, Skills and Abilities Preferred:
- Bachelor’s degree in engineering, supply chain, or related field is preferred
- 7 years’ experience in the material handling industry; industry knowledge related to engineering, supply chain, and logistics
- Knowledgeable in procurement/purchasing of traditional and new technologies in the material handling industry
- Creative, self-motivated, individual who enjoys working in team settings with a focus on integrated solutions.
- A strong desire to encourage the use of new technologies with the ability to explain benefits to clients to solve their challenges
- Demonstrated ability to work with suppliers, clients, face-to-face and effective phone and webcast skills
- Well-developed verbal / interpersonal skills with strong organizational, problem solving, judgement making, and time management skills
- Ability to handle several tasks simultaneously and comfortable in a fast-paced environment.
- Proficiency in Microsoft Office applications (Word, Excel. PowerPoint, Project, Visio), Salesforce, Smartsheet (or similar Project Management tool) and CPQ tools.
- Ability to work without direct supervision with a high degree of responsibility.
Working Conditions:
- Ability to travel up to 25% or as needed with fluctuation in intensity based on business needs.
- Willingness to work extended hours to support proposal and contract activities.
- Working in office, remote or supplier/client facilities.
- Working in a stationary position for an extended period.
- Moving or traversing for an extended period.
- Operating computers for an extended period.
***Job requirements listed indicate the minimum level of knowledge, skills, and/or ability necessary to perform the job proficiently. This job description is not an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform other job-related duties as requested by their supervisor, subject to reasonable accommodations. ***