Director, Global Strategic Sourcing

3 weeks ago

india Fortrea Full time

As a leading global contract research organization (CRO) with a passion for scientific rigor and decades of clinical development experience, Fortrea provides pharmaceutical, biotechnology, and medical device customers a wide range of clinical development, patient access and technology solutions across more than 20 therapeutic areas. With over 19,000 staff conducting operations in more than 90 countries, Fortrea is transforming drug and device development for partners and patients across the globe.

The Director, Global Strategic Sourcing is responsible for leading the strategy, design and development of a world-class strategic sourcing and category management function for one or more categories or segments within Fortrea’s global sourcing scope. This leader must have the interest and ability to work cross functionally with stakeholders across the entire enterprise to ensure that business objectives and strategies are achieved.

Summary of Responsibilities:

Develop, manage, and execute category strategies designed to support and enable Fortrea’s strategic imperatives and mission and position the Global Procurement Services organization as a trusted, strategic partner across the enterprise. Partner with leaders across the entire enterprise to ensure the function provides efficient and effective category strategies, preferred suppliers, initiative requirements, competitive supplier evaluation, contract negotiation and strategic supplier management services that support the on-going needs of the business. Lead and project manage multi-functional stakeholder teams on specific strategic sourcing initiatives or projects, including RFX’s, to ensure benefit realization and drive value through supplier relationship management within the assigned categories. Conduct regular contract review meetings with suppliers and key stake holders to ensure supplier performance is meeting expectations, contractual commitments, and service levels and that any concerns are communicated in a timely manner ensuring the avoidance of service disruption and stakeholder dissatisfaction. Provide advice on all procurement related issues and discuss detailed contractual issues on a wide and varied portfolio with stakeholders to ensure that (i) contractual terms and obligations are fully understood, (ii) both financial, operational, and supply risks are minimized, and (iii) stakeholders fully understand and remain in compliance with finance, legal and procurement procedures. Cultivate a strong team environment and a strong service culture that ensures delivery of timely and quality services to all customers and meets service level agreements. Operate with significant autonomy. Own and manage the end-to-end process for the Source to Contract elements of the assigned categories within the broader Source to Pay processes of the Procurement function, including compliance and regulatory reporting. Verify the relevance of the sourcing strategy by consulting with leaders, understanding external market trends, monitoring business conditions and priorities, being attentive to business objectives and continually validating, evolving, and adjusting the suitability of the functions' strategic objectives to ensure alignment. Develop, monitor, and analyze key procurement metrics and spend analytics. Conduct market research and analysis to identify potential suppliers and negotiate favorable terms and pricing. Ensure compliance with company policies, industry regulations, and ethical procurement practices. Establish a robust supplier evaluation framework to assess the performance and capabilities of existing suppliers regularly. Identify opportunities for supplier development and work closely with suppliers to improve their offerings and service levels. Deliver on savings and value targets across multiple dimensions including material deflation, P&L, Budget Optimization, Cost Avoidance and Working Capital as well as supplier development and performance, including quality and lead time reliability. Integrate a global perspective into all sourcing activities to maximize leverage and overall effectiveness of supply.

Qualifications (Minimum Required):

Bachelor's degree in Business Administration, Supply Chain Management A deep knowledge of sourcing processes, market trends, benchmarks, and best practices across categories under management In-depth knowledge of category strategy, management and sourcing, methodologies, and best practices Proven analytical skills, and demonstrated ability to solve complex problems to drive value Deep business and financial acumen and strong strategic and conceptual skills Demonstrated excellent written and verbal communication skills Demonstrated organizational, time management, and multi-tasking skills Working knowledge of data analysis and forecasting tools and ability to develop actionable insights from data Interpersonal skills and ability to build, develop and maintain trusted relationships both internally and externally Attention to detail and analysis accuracy Ability to make decisions and commit to completion dates Ability to troubleshoot issues of high complexity Microsoft Office365 (Word, Excel, PowerPoint, Outlook, Teams, SharePoint) Fortrea may consider relevant and equivalent experience in lieu of educational requirements.

Experience (Minimum Required):

Proven years of experience in a strategic sourcing role or related position Experience with working in a matrixed business environment, leading multiple commitments and collaborators while prioritizing conflicting demands, maintaining focus on the objective, and providing high quality service to both internal and external partners Specific experience in leading large, complex sourcing projects and supporting Senior Leadership on development of the sourcing strategy, management of risks and issues and the execution of the project to deliver the greatest value for money for the organization Developing and executing clear category management, strategic sourcing, procurement, and cost reduction strategies

Fortrea is actively seeking motivated problem-solvers and creative thinkers who share our passion for overcoming barriers in clinical trials. Our unwavering commitment is to revolutionize the development process, ensuring the swift delivery of life-changing ideas and therapies to patients in need. Join our exceptional team and embrace a collaborative workspace where personal growth is nurtured, enabling you to make a meaningful global impact.

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