What is a strategic sourcing specialist?
A strategic sourcing specialist improves the supply chain or purchasing operations of a company or business. A strategic sourcing specialist often works with upper-level management to ensure that the supply chain remains in alignment with the needs of the company.
How much does a strategic sourcing specialist make?
How much does a Strategic Sourcing Specialist make in the United States? The average Strategic Sourcing Specialist salary in the United States is $90,980 as of October 29, 2021, but the salary range typically falls between $77,818 and $105,275.
What does a sourcing specialist do?
The sourcing specialist’s responsibilities include sourcing goods, materials, and services at competitive prices and advising upper-level staff members on which suppliers to contract with. A high-performing sourcing specialist should be able to develop and implement innovative ideas to enhance sourcing strategies.
What does strategic sourcing do?
Strategic sourcing is a procurement process that connects data collection, spend analysis, market research, negotiation, and contracting. It stops short of the actual purchase of and payment for goods and services.
How do you become a strategic sourcing specialist?
The qualifications you need to become a strategic sourcing specialist include a degree and knowledge of supply chains and enterprise resource planning (ERP). You learn the skills to perform the duties of this job by earning a bachelor’s degree in logistics, supply chain management, or engineering.
How do I become a sourcing specialist?
To work as a recruitment sourcing specialist, you need a bachelor’s degree in human resources or a related field. If you prefer a job as a procurement sourcing specialist, you need a bachelor’s degree in supply chain management and experience in production, warehousing, or logistics.
How much does a strategic sourcing manager make?
Salary Ranges for Strategic Sourcing Managers The salaries of Strategic Sourcing Managers in the US range from $51,071 to $180,000 , with a median salary of $108,120 . The middle 57% of Strategic Sourcing Managers makes between $108,120 and $125,000, with the top 86% making $180,000.
What are the skills of a sourcing specialist?
Key Requirements
- You have prior experience within talent acquisition in a sourcing role.
- You have strong knowledge of various sourcing tools & methodologies.
- Excellent interpersonal & communication skills.
- Ability to multi-task effectively.
What are the 6 sourcing strategies?
Some sourcing strategies to consider:
- Outsourcing. Having suppliers provide goods and services that were previously provided internally.
- Insourcing. Delegating a job to someone within the company.
- Nearsourcing.
- Vertical integration.
- Few or many suppliers.
- Joint ventures.
- Virtual enterprise.
What are the 5 core processes for strategic sourcing?
This well arms a company heading into contract negotiations.
- Utilization Management.
- Vendor Strategy Development.
- Spend Aggregation.
- Objectively Informed Negotiation.
How much does a sourcing specialist make?
Sourcing Specialist Salaries
| Job Title | Salary |
|---|---|
| Parker Hannifin Sourcing Specialist salaries – 18 salaries reported | $67,155/yr |
| Target Sourcing Specialist salaries – 17 salaries reported | $21/hr |
| Walt Disney Company Sourcing Specialist salaries – 13 salaries reported | $70,482/yr |
What does a senior procurement specialist do?
A Senior Procurement Specialist performs the more difficult and complex negotiation, preparation, and processing of contracts, leases, and procurement documents for a variety of equipment, materials, supplies, and services for the District and supervises the activities of a procurement unit.