What is a Sourcing Manager doing? Job description and responsibilities

What does a Sourcing Manager do?

The Sourcing Manager is responsible for developing and implementing sourcing strategies to meet the operational and financial objectives of the organization. The Sourcing Manager is a key member of the organization and is responsible for the day-to-day management of the sourcing process, vendor relationships and overall supplier performance. The successful candidate must have a strong understanding of the supply chain, sourcing best practices and possess excellent communication, negotiation and analytical skills.

Responsibilities of Sourcing Manager

1. Identify and analyze potential suppliers and negotiate contracts with vendors.
2. Monitor supplier performance and ensure delivery of quality products and services.
3. Develop and maintain strong relationships with vendors and service providers.
4. Research and recommend cost-saving opportunities and innovative sourcing strategies.
5. Analyze market trends and conditions to identify potential new suppliers.
6. Establish and manage contracts for the purchase of all materials, components, and services.
7. Prepare and present reports to management on supplier performance and market trends.
8. Develop and execute sourcing and procurement plans to meet organizational objectives.
9. Ensure compliance with all applicable laws and regulations related to purchasing and sourcing activities.
10. Monitor industry developments and assess their potential impact on the organization's sourcing strategy.