Strategic Sourcing Analyst Senior

About the role

Supports strategic sourcing best practices for enterprise across assigned categories by analyzing market fundamentals, industry data, price benchmarks, cost drivers and trends, key cost variances, and economic forecasting. Categorizes and analyzes spend categories and assesses market and sourcing options to prioritize areas for maximizing value and cost synergies.

Responsibilities

• Assist with the end-to-end sourcing process, including supplier identification, qualification, selection, negotiation, and contracting; ensure compliance with relevant policies, procedures, and regulations.
• Assist in strategies to bring non-contracted products and services under contract, assuring best contract coverage for assigned categories.
• Consult with Legal on contractual issues concerning proper legal terms and conditions and ensure all other relevant departments’ evaluations of contracts are triggered (IT, Data Security, etc.).
• Support and execute cost-saving opportunities through comprehensive analysis of utilization, pricing, and contracting; collaborate with sourcing leaders to enable favorable negotiations on pricing, terms, and conditions with suppliers.
• Aid in cost containment strategies, such as standardization, utilization controls, and value-based purchasing; assist in the attainment of maximum savings in total delivered cost of supplies, pharmaceuticals, services, and equipment in assigned categories.
• Support strong supplier relationships; monitor supplier performance, support supplier evaluations, and drive continuous improvement initiatives; collaborate with cross-functional teams to address supplier-related issues and ensure timely resolution.
• Work closely with sourcing leaders and other stakeholders to understand needs and priorities; support effective communication channels and engagement strategies to foster collaboration and support decision-making processes.
• Collaborate with sourcing leadership to ensure seamless integration of value analysis; support educational programs and materials to promote awareness and adoption of value-based approaches throughout the enterprise.
• Assist in production of metrics and performance indicators to measure the impact of strategic sourcing initiatives on cost savings, quality improvement, and patient outcomes; analyze data to identify trends, monitor progress, and generate actionable insights; prepare regular reports and presentations for leadership.
• Serve as a role model and mentor to Analysts; develop and maintain training documents for supply chain processes as defined by sourcing leaders and assist with training as needed.
• Stay updated on industry trends, emerging technologies, and best practices; support a culture of continuous improvement leveraging data analytics, technology tools, and industry collaborations.
• Support risk mitigation associated with the sourcing process, including supply chain disruptions, quality issues, regulatory compliance, and geopolitical factors related to assigned categories; aid in contingency plans and develop RFPs, RFIs, and IFBs in accordance with directives and program requirements.
• Ensure contracting process engages end-users to define service and product attributes through facilitated pre-contracting initiatives; support a rolling three-year plan for supplies, implants, pharmaceuticals, purchased services, and capital categories as assigned.

Minimum Education And Experience Required

• Education Required: Bachelor’s Degree in Supply Chain, Business or related field preferred.
• Experience Required: Typically requires 5 years of demonstrated, progressive work experience in healthcare supply chain/procurement.

Knowledge, Skills, And Abilities Required

• Knowledge in system-wide purchasing strategies, processes, and programs which support 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.
• Extensive knowledge of analytical/mathematical/statistical methods, data analysis and presentation.
• Interchange and internet-based procurement transaction processes knowledge with exposure to broader issues such as Continuous Replenishment Processes or Vendor Managed Inventories.
• Skills developing strategic and tactical plans to meet business objectives in a large healthcare system.
• Knowledge of contract law and related legal and financial policies.
• Excellent communication skills necessary to communicate effectively with senior administrators, department leaders, physicians, vendors, and clinical staff to support acquisition goals.
• Knowledge of healthcare accreditation standards (i.e. DNV, JCAHO), Occupational Safety and Health Administration, and National Fire Protection Organization requirements.
• Excellent analytical, quantitative, and qualitative skills; ability to identify and solve problems creatively, to work within deadlines with a high attention to detail and to work independently in a fast-paced, dynamic environment.
• Experience in working with and implementing large-scale automated systems.

Physical Requirements And Working Conditions

Limited regional and national travel; exposed to weather and road conditions. Operates all equipment necessary to perform the job. Exposed to a normal office environment. This job description indicates the general nature and level of work expected; incumbent may be required to perform other related duties.