ABBOTT LABORATORIES Specialist Procurement Salary in the United States

How much does a Specialist Procurement make at companies like ABBOTT LABORATORIES in the United States? The average salary for Specialist Procurement at companies like ABBOTT LABORATORIES in the United States is $57,972 as of March 26, 2024, but the range typically falls between $49,538 and $66,406. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.  View the Cost of Living in Major Cities2

About ABBOTT LABORATORIES

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What does a Specialist Procurement do at companies like ABBOTT LABORATORIES?

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 115,000 colleagues serve people in more than 160 countries.

Working at Abbott

At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You’ll also have access to:

  • Career development with an international company where you can grow the career you dream of .
  • Free medical coverage for employees* via the Health Investment Plan (HIP) PPO
  • An excellent retirement savings plan with high employer contribution
  • Tuition reimbursement, the Freedom 2 Save student debt program and FreeU education benefit - an affordable and convenient path to getting a bachelor’s degree.
  • A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.
  • A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This position works out of our Abbott Park, IL location in the GPS Global Purchasing Services division.

As the Procurement specialist, you’ll be responsible for implementing the

Global Procurement and Supplier Management strategies created by the IT Category Manager; Drives the “One Abbott Procurement” model with key internal customers, divisions, and business leads; Provides superior levels of customer service and satisfaction while adhering to a strict standard of business ethics and integrity; Anticipates and resolves problems in value, quality, feasibility and specifications in the procurement of goods and services; Contributes cost savings, improves supplier relationships and performs other value added activities to support customer needs and expectations; Proactively seeks and leads innovative ways to improve the procurement processes, cycle times, and service levels; Understands "One Procurement" category strategies and completes projects that impact the "One Procurement" team; Uses delegated authority to commit company funds in accordance with strategic initiatives; Recognized as an expert within own area;  Portrays specialized depth and/or breadth of expertise;  Acts as a lead, coordinating work but may not be a supervisor.

What You’ll Work On

  • Researches and understands IT strategic initiatives in collaboration with IT stakeholders and creates short/long term strategic plans for managed services
  • Develops sub-category strategies that align to the broader category strategy with guidance of leadership and executes to completion
  • Performs value cost analysis and optimizes financial results
  • Leads and executes competitive bids (e.g. RFP, RFI)
  • Champions process improvements that drive efficiencies, responsiveness, and controls
  • Prepares analytical reports and dashboards for customers
  • Assesses complex problems and proposes practical solutions
  • Manages contract legal reviews and purchase order approvals
  • Develops contract negotiation plans and executes for the customer
  • Responsible for delivering projects in cost savings, supplier rationalization, process changes, etc.
  • Leads governance meetings with key suppliers and documents minutes
  • Manages contracts and supplier performance
  • Identifies new opportunities for supplier synergies and KPI’s
  • Collaborates with other internal functions to drive outcomes
  • Provides advice/direction and expertise to internal customers
  • Acts as an escalation point for supplier issues
  • Educates stakeholders on the process and policies as appropriate
  • Seeks and establishes business working relationships with key suppliers
  • Assesses supplier risks and provides recommendations for mitigation
  • Meets regularly with divisional customers and leads functions to ensure superior customer satisfaction and continuous improvement

Required Qualifications

  • Professional BA or equivalent experience required; MBA preferred.
  • Successful 1 year track record within procurement and supply chain management
  • Relevant IT or IT Project Management experience could be a valid substitute for procurement experience and CPSM or CPM certifications. IAOP or ITIL qualifications.
  • Experience in a highly regulated matrix environment, preferably in the Healthcare Industry
  • Strong experience dealing with Privacy data requirements and contracting (PII, HIPAA, PCI, PHI)

Preferred Qualifications

  • Strong background leading contract management and negotiation events.
  • Change manager with strong influencing skills
  • Proficient in “Customer Value Creation.”
  • Independently motivated with ability to lead and be a part of collaborative teams
  • Proficiency in exercising “soft power” at various org levels, including C-level executives. 
  • Think unconventionally (i.e. “outside the box”).
  • Envision, plan and realize effective, customer valued program
  • Strong sense of personal accountability for evolution and success of the entrusted program.
  • Effective communicator (i.e. message delivered through different methods, under various circumstances in a collaborative manner).

* Participants who complete a short wellness assessment qualify for FREE coverage in our HIP PPO medical plan. Free coverage applies in the next calendar year.

Learn more about our health and wellness benefits, which provide the security to help you and your family live full lives:  www.abbottbenefits.com

Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life. Abbott is an Equal Opportunity Employer, committed to employee diversity.

Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.

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$49,538 Low Average $57,972 High $66,406

Understand the total compensation opportunity for Specialist Procurement at companies like ABBOTT LABORATORIES, base salary plus other pay elements

Average Total Cash Compensation

Includes base and annual incentives

$49,538
$66,406
$57,972
The chart shows total cash compensation for the ABBOTT LABORATORIES Specialist Procurement in the United States, which includes base, and annual incentives can vary anywhere from $49,538 to $66,406 with an average total cash compensation of $57,972. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
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