Strategic Sourcing Analyst Job Description, Key Duties and Responsibilities

Strategic Sourcing Analyst Job Description, Key Duties and Responsibilities

This post provides exhaustive information of the job description of a strategic sourcing analyst, to help you learn the work they do.

It presents the key duties, tasks, and responsibilities that commonly make up the strategic sourcing analyst work description.

This post also provides major requirements that most recruiters for the strategic sourcing analyst position typical expect prospective applicants to meet to qualify for hiring.

Please, read on to learn about the strategic sourcing analyst career:

What Does a Strategic Sourcing Analyst Do?

A strategic sourcing analyst is responsible for gathering and evaluating logistical data that are related to an organization’s products or services used in operations.

The strategic sourcing analyst job description entails carrying out duties that are related to strategic sourcing analysis which require him or her to help an organization or a company to maintain its productivity, profitability and competitiveness through proper supply chain management, as a poor supply management will lead to lost revenue, unsatisfied customers and frustrated employees.

It involves gathering, analyzing, and reporting supply chain trends and data to the management so as to help them increase the quality, timeliness, and efficiency of products and services.

A strategic sourcing analyst refers to a professional individual who is saddled with the responsibility of reviewing how an organization manages their supply chain by collecting relevant information on how the organization’s supply chain operates.

He/she performs the daily activity of evaluating risks, preparing forecasts, and analyzing various arising issues that are related to market changes and supply chain problems.

He/she is responsible for preparing reports and industry outlooks for the upper management, which may involve evaluating trade publications, market reports, and competitive intelligence.

The strategic sourcing analyst work description also involves evaluating gathered information and using analytical software to process data, which enables them to further identify trends and patterns and potential areas for improvement.

The objective of a strategic sourcing analyst is to come up with ways to minimize problems so that the company can improve efficiency, and to ensure that the supply chain operates in a way that allows the company to deliver exceptional service with minimal costs while also avoiding unnecessary delays or complications.

The position of a strategic sourcing analyst requires the ideal candidate to demonstrate certain skills or attributes such as excellent written and verbal communication skills with sound active listening and comprehension skills; the ability to critically think and analyze complex information within a given period of time, well-developed decision making and problem solving skills, computer proficiency, the ability to multitask, and good time management skills.

Strategic Sourcing Analyst Job Description Example/Sample/Template

Shown below are major duties, tasks, and responsibilities that commonly make up the strategic sourcing analyst job description in most organizations:

• Continuously building and maintaining healthy relationships within the company’s business and their partnerships
• Ensuring that the organization deals in low cost, high quality, and dependable goods
• Assisting in the development and management of strategic sourcing work project plans
• Identifying and assisting with the development of strategic business relationships both internally and externally
• Gathering and providing periodic analysis reports
• Analyzing, examining, and determining market trends and conditions
• Participating in project management and enterprise resource planning programs
• Managing, tracking, and monitoring the company’s costs, market fluctuations, and supplier performance
• Identifying and maintaining a good relationship with new suppliers
• Reducing lead time and increasing consistency by working with certain supply chain tools and technologies
• Preparing analytical reports and industry outlooks for upper management.

Strategic Sourcing Analyst Job Description for Resume

If you have worked before or are presently working as a strategic sourcing analyst and are making a new resume, having the professional or job experience section in the resume can increase its quality and strength.

The professional experience section of the resume tells the recruiter that you have the required experience to perform excellently on the position that you are applying for.

So, if you are seeking a job that requires having some work experience as a strategic sourcing analyst, then you can apply the job description example above in effectively describing your professional experience in your resume, having worked previously or are currently holding the position of a strategic sourcing analyst.

Strategic Sourcing Analyst Requirements – Skills, Abilities, and Knowledge for Career Success

If you are seeking the strategic sourcing analyst role, then here are major requirements most recruiters may want you to meet to qualify for employment:

• Excellent verbal and written communication skills, to communicate effectively with suppliers, staffs, and business partners, and also write and submit reports to the upper management
• Good analytical skills, the ability to pay particular attention to details, and the ability to endure long hours of work
• Strong interpersonal skills to develop and maintain positive professional relationships with clients, suppliers, vendors, and shipping companies
• Good problem-solving skills to think critically and analyze complex information in order to handle arising issues
• Several years of proven work experience in the supply chain management industry which can be achieved professionally or through an internship
• A Bachelor’s degree in fields of study such as supply chain management, operations and industrial engineering, or in any related educational discipline.

Conclusion

If you are a recruiter or employer hiring for the strategic sourcing analyst role in your organization, you will have to make and publish a description of the position to enable prospective applicants learn about the duties and responsibilities associated with the position.

To make a detailed description that best describes the strategic sourcing analyst role in your organization, you can apply the sample job description above as a template.

Information contained in this post is also beneficial to individuals interested in the strategic sourcing analyst career.

They will be able to increase their knowledge of the functions usually carried out by strategic sourcing analysts.