Companies trying to find ways to boost their productivity may look to a strategic sourcing analyst to provide insights on the company’s use of products and services.
Strategic sourcing analysts review data associated with the way a business manages its supply chain. They must source relevant information on how the company’s supply chain functions. They then evaluate that information with the assistance of analytical software to recognize trends, patterns and key areas for improvement. The primary objective of a strategic sourcing analyst is to locate ways to lessen supply chain issues so a company can realize greater overall efficiency, provide exceptional service and products with minimal costs and without needless delays or difficulties.
In an electrical business, a sourcing analyst might assess the efficiency of vendors and determine how these factors impact particular facets of a company’s operations.
To be able to foster improvement in supply chain operations, strategic sourcing analysts must track industry trends and be conscious of relevant economic and company factors. Sourcing analysts also evaluate the company’s suppliers, interact with customers and talk to vendors.
A key aspect of this job is writing reports about the best approach to boost supply chain operations. A report might point to new suppliers that can lead to a boost efficiency or they may make other suggestions concerning how to enhance operations.
Our featured Strategic Sourcing Analyst job for July with a growing Fortune 500 company requires a Bachelor of Science in Electrical Engineering degree.
Individuals looking to enter this industry can separate themselves from other job seekers by completing post-educational training. One option is to take a certification exam to become a Certified Purchasing Manager (CPM).
Strategic sourcing analysts must be capable researchers to make sure they have all the necessary information to make recommendations. They need strong analytical abilities to spot patterns in data and form conclusions. These professionals should also be an Excel Power User, able to leverage the Microsoft program to ensure the information they have is accurate and create reports based on spreadsheet data. The professionals should also be individuals who have gotten data extracts from data bases – like Access – and have used the SQL programing language.
Problem-solving and decision-making abilities are crucial because sourcing analysts must develop effective strategies to refine operations. Communication abilities are also crucial for interacting with supply chain employees, management, clients, contacts, vendors and customers.
Our featured Strategic Sourcing Analyst job can be a stepping stone position that would lead to a Strategic Sourcing Manager Role in the future.
The Bureau of Labor Statistics (BLS) reports that those in this field could see a 7 percent rise in jobs from 2016 to 2026, which is the same growth rate the agency has projected for all occupations during that timeframe. Glassdoor reported the mean yearly income in 2017 for strategic sourcing analysts was just over $64,000.
At ZDA, we specialize in connecting talented supply chain professionals with best-fit job opportunities. If you are currently looking to pursue this Strategic Sourcing Analyst position or another supply chain job, please contact ZDA today – a top supply chain recruiter.