IT Procurement Analyst
3 weeks ago
Role: IT Procurement Analyst
Location: India, Remote or office working US East Coast Hours
Qualification: Bachelor's degree in Business, Supply Chain Management, Finance, or a related field
Indicative Experience: 3 + years
Domain, preferably life sciences or pharmaceuticals.
Other benefits Health Insurance, Provident Fund, Life Insurance, and Reimbursement of Certification
Expenses, Gratuity, 24x7 Health Desk
About Norstella
At Norstella, our mission is simple: to help our clients bring life-saving therapies to market quicker—and help patients in need.
Founded in 2022, but with history going back to 1939, Norstella unites best-in-class brands to help clients navigate the complexities at each step of the drug development life cycle —and get the right treatments to the right patients at the right time.
Each organization (Citeline, Evaluate, MMIT, Panalgo, The Dedham Group) delivers must-have answers for critical strategic and commercial decision-making. Together, via our market-leading brands, we help our clients:
· Citeline – accelerate the drug development cycle
· Evaluate – bring the right drugs to market
· MMIT – identify barrier to patient access
· Panalgo – turn data into insight faster
· The Dedham Group – think strategically for specialty therapeutics
By combining the efforts of each organization under Norstella, we can offer an even wider breadth of expertise, cutting-edge data solutions and expert advisory services alongside advanced technologies such as real-world data, machine learning and predictive analytics.
As one of the largest global pharma intelligence solution providers, Norstella has a footprint across the globe with teams of experts delivering world class solutions in the USA, UK, The Netherlands, Japan, China and India.
The Role
Reporting into the IT Procurement Manager, the IT Procurement Analyst plays a key role in supporting the IT Procurement team by analyzing data, identifying cost-saving opportunities, and contributing to the strategic decisions making process. This position involves conducting market research, monitoring supplier performance, providing insights to optimize the IT Procurement function, complete analysis of existing contracts for trends, patterns, and cost optimization, and will also support in the purchase order and receipt process.
1. Data Analysis:
Analyze IT Procurement data to identify trends, patterns, and opportunities for cost optimization.
Utilize statistical and quantitative analysis methods to assess IT Procurement performance.
2. Market Research:
Conduct market research to stay informed about industry trends, supplier capabilities, and pricing dynamics.
Provide insights and recommendations based on market analysis.
3. Supplier Evaluation:
Assess and evaluate IT supplier performance through the analysis of key performance indicators (KPIs) and other relevant metrics.
Contribute to the development of supplier scorecards and performance reports.
4. Cost Management:
Work closely with the IT Procurement team to identify cost-saving opportunities and process efficiencies.
Monitor and analyze cost structures to ensure competitiveness.
5. Contract Analysis:
Review and analyze contract terms and conditions to ensure compliance and mitigate risks.
Contribute to contract negotiation processes by providing data-driven insights.
6. Risk Management:
Identify and assess risks associated with IT Procurement activities.
Develop risk mitigation strategies and provide recommendations to enhance risk management processes.
7. Reporting:
Prepare and generate regular reports on IT Procurement performance, cost savings, and key metrics.
8. Process Improvement:
Continuously evaluate and identify opportunities for process improvement within the IT Procurement function.
Collaborate with cross-functional teams to implement process enhancements.
9. Compliance:
Ensure compliance with organizational policies, legal requirements, and industry standards.
Support internal and external audits related to IT Procurement activities.
10. Documentation:
Maintain accurate and comprehensive documentation related to IT Procurement analysis, supplier evaluations, and cost management initiatives.
Ensure data integrity and accessibility.
Qualifications:
Bachelor's degree in Business, Supply Chain Management, Finance, or a related field.
3-5 Years of experience
Proven experience in IT Procurement analysis or a related role.
Strong analytical and quantitative skills, with proficiency in data analysis tools and techniques.
Knowledge of IT Procurement processes, contract management, and supplier relationship management.
Excellent communication and presentation skills.
Detail-oriented with a focus on accuracy and data integrity.
Ability to work collaboratively in a team and across departments.
Familiarity with IT Procurement software and tools is a plus.
Our guiding principles for success at Norstella
01: Bold, Passionate, Mission-First
We have a lofty mission to Smooth Access to Life Saving Therapies and we will get there by being bold and passionate about the mission and our clients. Our clients and the mission in what we are trying to accomplish must be in the forefront of our minds in everything we do.
02: Integrity, Truth, Reality
We make promises that we can keep, and goals that push us to new heights. Our integrity offers us the opportunity to learn and improve by being honest about what works and what doesn’t. By being true to the data and producing realistic metrics, we are able to create plans and resources to achieve our goals.
03: Kindness, Empathy, Grace
We will empathize with everyone's situation, provide positive and constructive feedback with kindness, and accept opportunities for improvement with grace and gratitude. We use this principle across the organization to collaborate and build lines of open communication.
04: Resilience, Mettle, Perseverance
We will persevere – even in difficult and challenging situations. Our ability to recover from missteps and failures in a positive way will help us to be successful in our mission.
05: Humility, Gratitude, Learning
We will be true learners by showing humility and gratitude in our work. We recognize that the smartest person in the room is the one who is always listening, learning, and willing to shift their thinking.
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