Strategic Sourcing Analyst

Job Summary: This role is responsible for conducting thorough analysis of internal commodity data, evaluating market trends, and performing cost analyses. By providing insights and recommendations, the Strategic Sourcing Analyst helps optimize procurement processes, achieve cost savings, and enhance supplier relationships. Additionally, this position supports the development of negotiation strategies and assists in contract management. The Strategic Sourcing Analyst collaborates with stakeholders, follows established strategic sourcing processes, and ensures efficient supply chain operations. This role requires strong analytical skills, attention to detail, and a deep understanding of supply chain principles.

Essential Duties, Responsibilities and Job Requirements:
1. Perform internal commodity analysis:
• Analyze spend, contracts, and usage data to identify trends, opportunities, and potential risks.
• Collaborate with stakeholders to gather and consolidate relevant information.
2. Conduct market analysis:
• Monitor market trends, industry dynamics, and supplier capabilities.
• Identify potential new suppliers and assess their suitability for partnerships.
• Provide insights and recommendations based on market research.
3. Perform Total Cost of Ownership (TCO) analysis:
• Evaluate the total cost of procuring goods and services, including direct and indirect costs.
• Identify cost-saving opportunities by analyzing different cost components.
4. Conduct ROI/Cash cycle analysis:
• Evaluate the return on investment (ROI) and cash cycle impact of sourcing initiatives.
• Provide financial analysis to support decision-making and prioritize projects.
5. Conduct value stream mapping of supply design:
• Map and analyze the end-to-end supply chain processes to identify inefficiencies and areas for improvement.
• Collaborate with cross-functional teams to optimize the value stream and eliminate waste.
6. Identify and enter VAVE and cost reduction ideas and strategy:
• Identify Value Analysis/Value Engineering (VAVE) opportunities to optimize product design and reduce costs.
• Develop cost reduction strategies and collaborate with stakeholders to implement them.
7. Support Go to Market Request for Proposal (RFP):
• Assist in the preparation of RFP documents and coordinate the bidding process.
• Analyze and evaluate supplier proposals, and provide recommendations to the team.
8. Support negotiation strategy development and negotiate contracts as assigned:
• Assist in developing negotiation strategies based on market analysis and business requirements.
• Participate in supplier negotiations and contract discussions.
9. Assist in developing or finalizing agreements/presentations as needed:
• Collaborate with legal and procurement teams to develop contractual agreements.
• Assist in creating presentations and reports for internal and external stakeholders.
10. Implement and manage agreements as assigned:
• Monitor and track supplier performance against agreed-upon terms and conditions.
• Collaborate with stakeholders to resolve any contractual or performance issues.
11. Work with stakeholders to obtain information and input:
• Engage with cross-functional teams to gather requirements and understand business needs.
• Collaborate with stakeholders to ensure alignment on sourcing strategies.
12. Follow the Strategic Sourcing Process:
• Adhere to the established strategic sourcing processes and guidelines.
• Continuously improve processes and recommend enhancements as needed.
13. All other duties as assigned.

Skills/Experience Preferred:
• Prior experience in strategic sourcing, procurement, or supply chain analysis.
• Strong analytical skills with the ability to interpret data and draw meaningful insights.
• Proficient in conducting market research and utilizing relevant tools and techniques.
• Familiarity with Total Cost of Ownership (TCO) and financial analysis.
• Ability to work collaboratively with cross-functional teams and stakeholders.
• Strong organizational and time management skills.
• Proficiency in Microsoft Excel, PowerPoint, and other data analysis tools.
• Knowledge of customs/international sourcing and sustainability.

Education Requirements:
• Bachelor’s degree in Business Administration, Supply Chain Management, Finance or a related field

Physical Requirements: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Employee may be regularly required to talk or listen, stand, walk, sit, stoop, crawl and use hands to finger, handle, or feel objects, tools or controls. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. Must be able to operate in mentally and physically stressful situations. Prolonged sitting, typing and lifting up to 20 pounds.

BYRNE ELECTRICAL SPECIALISTS is an equal opportunity employer.