Strategic Sourcing Analyst

Department: Enterprise Corporate - Supply Chain: Sourcing and CVA
Status: Full time, benefits eligible
Hours per week: 40
Schedule: Monday to Friday, 8:00am to 5:00pm EST
Pay range: $33.05 - $49.60 per hour

Responsibilities

• Supports strategic sourcing best practices for enterprise across assigned categories.
• Analyzes market fundamentals, industry data, price benchmarks, cost drivers, trends, and economic forecasting in assigned categories.
• Categorizes and analyzes spend categories; assesses market and sourcing options to prioritize areas for maximizing value and cost synergies.
• Assists with the end-to-end sourcing process, including supplier identification, qualification, selection, negotiation, and contracting.
• Ensures compliance with relevant policies, procedures, and regulations.
• Develops strategies to bring non-contracted products and services under contract, ensuring best contract coverage for assigned categories.
• Consults with Legal on contractual issues concerning proper legal terms and conditions.
• Triggers evaluations of contracts by relevant departments (IT, Data Security, etc.) as required by contract type.
• Supports cost-saving opportunities through analysis of utilization, pricing, and contracting.
• Aids in cost containment strategies, such as standardization, utilization controls, and value-based purchasing.
• Assists in attaining maximum savings in total delivered cost of supplies, pharmaceuticals, services, and equipment in assigned categories.
• Aids in monitoring supplier performance and collaborates with cross-functional teams to address supplier-related issues.
• Works closely with sourcing leaders and stakeholders to understand their needs and priorities.
• Collaborates with sourcing leadership to ensure seamless integration of value analysis.
• Supports educational programs and materials to promote awareness and adoption of value-based approaches.
• Assists in producing metrics and performance indicators to measure the impact of strategic sourcing initiatives on cost savings, quality improvement, and patient outcomes.
• Analyzes data to identify trends, monitor progress, and generate actionable insights.
• Prepares regular reports and presentations for leadership, highlighting key findings, achievements, and recommendations.
• Stays updated on industry trends, emerging technologies, and best practices.
• Supports a culture of continuous improvement, leveraging data analytics, technology tools, and industry collaborations.
• Supports risk mitigation associated with the sourcing process, including supply chain disruptions, quality issues, regulatory compliance, and geopolitical factors.
• Aids in developing contingency plans to minimize potential impact on the organization.
• Assists in developing Requests for Proposal (RFP), Request for Information (RFI), and Invitations for Bid (IFB) in accordance with directives and program requirements.
• Ensures the contracting process engages end-users to define service and product attributes through facilitated pre-contracting initiatives.
• Supports a rolling three-year plan for supplies, implants, pharmaceuticals, purchased services, and capital categories as assigned.

Requirements

• Bachelor’s degree in Supply Chain, Business, or a related field (preferred).
• Typically requires 2 years of demonstrated work experience in healthcare supply chain/procurement.
• Knowledge of system-wide purchasing strategies, processes, and programs supporting a service-focused, cost-effective, and centralized model.
• Demonstrated successful contract negotiation skills and ability to establish and administer complex contracts for products and services.
• Sound knowledge of inventory management and related accounting processes.
• Knowledge of interchange and internet-based procurement transaction processes, including exposure to broader issues such as Continuous Replenishment Processes or Vendor Managed Inventories.
• Skills in developing strategic and tactical plans to meet business objectives in a large healthcare system.
• Knowledge of contract law and related legal and financial policies.
• Basic knowledge of analytical/mathematical/statistical methods, data analysis, and presentation.
• Excellent communication skills to interact effectively with senior administrators, department leaders, physicians, vendors, and clinical staff.
• Knowledge of healthcare accreditation standards (e.g., DNV, JCAHO), Occupational Safety and Health Administration (OSHA), and National Fire Protection Organization (NFPA) requirements.
• Excellent analytical, quantitative, and qualitative skills.
• Ability to identify and solve problems creatively, work within deadlines with high attention to detail, and work independently in a fast-paced, dynamic environment.
• Experience working with and implementing large-scale automated systems.

Physical Requirements and Working Conditions

• Limited regional and national travel, exposure to weather and road conditions.
• Operates all equipment necessary to perform the job.
• Exposed to a normal office environment.

Benefits

• Paid Time Off programs.
• Health and welfare benefits, including medical, dental, vision, life, and short- and long-term disability.
• Flexible Spending Accounts for eligible health care and dependent care expenses.
• Family benefits such as adoption assistance and paid parental leave.
• Defined contribution retirement plans with employer match and other financial wellness programs.
• Educational Assistance Program.
• Base compensation within the listed pay range based on qualifications, skills, relevant experience, and/or training.
• Premium pay such as shift, on-call, and more based on the teammate's job.
• Incentive pay for select positions.
• Opportunity for annual increases based on performance.

Note: Eligibility for programs listed above may depend on FTE or status (e.g., full-time, part-time, per diem, temporary, etc.).

About the Organization

Advocate Health is the third-largest nonprofit, integrated health system in the United States, created from the combination of Advocate Aurora Health and Atrium Health. Providing care under the names Advocate Health Care in Illinois; Atrium Health in the Carolinas, Georgia, and Alabama; and Aurora Health Care in Wisconsin, Advocate Health is a national leader in clinical innovation, health outcomes, consumer experience, and value-based care. Headquartered in Charlotte, North Carolina, Advocate Health serves nearly 6 million patients and is engaged in hundreds of clinical trials and research studies, with Wake Forest University School of Medicine serving as the academic core of the enterprise. It is nationally recognized for its expertise in cardiology, neurosciences, oncology, pediatrics, and rehabilitation, as well as organ transplants, burn treatments, and specialized musculoskeletal programs. Advocate Health employs 155,000 teammates across 69 hospitals and over 1,000 care locations and offers one of the nation’s largest graduate medical education programs with over 2,000 residents and fellows across more than 200 programs. Committed to providing equitable care for all, Advocate Health provides more than $6 billion in annual community benefits.