What are the responsibilities and job description for the Procurement Manager position at Verst?
Position Summary:
As the Procurement Manager, you will be the architect of our company’s first formal Procurement Department. Reporting directly to the SVP of Accounting and Finance, you will transition the organization from decentralized purchasing to a strategic, centralized model. Your mission is to build the framework for vendor management, drive significant cost savings through strategic sourcing, and optimize Coupa (our procurement software) to help ensure fiscal discipline without stifling operational speed.
Duties and Responsibilities:
Essential Functions:
1) Policy Design
a. Draft and enforce company-wide purchasing policies, including spending thresholds and approval matrices
b. Develop new processes to move from a decentralized procurement to a more centralized procurement system
2) Strategic Sourcing & Negotiation
a. Conduct a deep dive into historical spend analysis to identify categories for consolidation and cost-reduction initiatives
b. Build a centralized contract repository, monitor renewals and lead the renegotiation of major vendor contracts
c. Standardize the request for proposal (RFP) process to ensure competitive bidding and transparency.
d. Lead the contract review process for vendors and work with senior leadership/legal on contract language issues
3) Vendor and Stakeholder Management
a. Act as the primary point of escalation for vendor performance issues
b. Partner with department heads to understand their needs while educating them on the value of any procurement guardrails put in place
c. Ensure all vendors meet compliance, insurance and security requirements
d. Discuss current procurement pain points with operations and identify ways to improve/reduce them, especially with our current software Coupa
4) Start-up and Project costs
a. Act as the primary contact responsible for sourcing materials needed for start-ups or specific projects that arise
b. Help FP&A and solutions identify/determine standard costs that can be used for quoting models or project costs
5) Procure to Pay Software management
a. Work with A/P Manager to transition the current vendor onboarding process in Coupa to Procurement department
b. Provide support to vendors that have any challenges with Coupa onboarding
c. Work with A/P Manager to help create improved workflows in Coupa to assist end users and make purchasing easier and more efficient while also reducing costs
d. Establish preferred vendors and drive end users to purchase from them when applicable
Job Specifications:
- Bachelor’s or higher degree in Finance, business or supply chain is preferred
- 5 years in procurement or supply chain management
- Highly organized with attention to detail.
- Ability to meet assigned deadlines.
- Strong analytical skills.
- Ability to act and operate independently with a minimal amount of daily direction to accomplish business objectives.
- Ability to work cooperatively and collaboratively with all levels of employees and management across the organization
- Experience with procurement tools such Coupa is preferred
- Proven ability to create order out of chaos and a track record of achieving significant verifiable cost savings
- Strong ability to lead a change management structure across the organization to new policies and procedures that will be put in place
The duties and responsibilities listed above are representative of the duties of the position, and do not include all the tasks that the incumbent may be required to perform. The incumbent must be able to perform all the essential functions of this job, either with or without reasonable accommodation.