FAQs
What is the primary role of a Strategic Sourcing Analyst?
The primary role of a Strategic Sourcing Analyst is to act as a sourcing agent for the organization, evaluating suppliers based on price, quality, and speed to value, while facilitating the value analysis process and identifying cost containment strategies to manage non-labor spend.
What essential functions does this position involve?
The essential functions include performing needs assessments, conducting cost and clinical quality analyses, communicating results to leadership, negotiating contracts, managing vendor compliance, facilitating vendor business reviews, collaborating with internal departments, and identifying cost savings opportunities.
What qualifications are required for the Strategic Sourcing Analyst position?
A Bachelor’s degree in finance, industrial engineering, nursing, healthcare administration, supply chain management, or a related field is required. An Associate’s degree with two years of directly related work experience may substitute for a Bachelor’s degree.
How much experience is needed for this role?
Four years of experience in sourcing, contract management, finance, clinical, or logistics is required.
What skills are essential for a Strategic Sourcing Analyst?
Essential skills include strong computer skills with an emphasis on spreadsheet and PowerPoint design, sound critical thinking skills for data analysis and contracting processes, as well as highly effective written and verbal communication skills.
Will I be required to collaborate with other departments?
Yes, the role requires collaboration with both clinical and non-clinical internal departments to extract, understand, and communicate pertinent data effectively.
What responsibilities will I have regarding vendor management?
Responsibilities will include tracking vendor compliance with contract terms, facilitating vendor business reviews, and identifying areas for improvement based on key performance indicators.
Is there a training component in this job?
Yes, the Strategic Sourcing Analyst will assist with training new Corporate Resource Analysts and other Strategic Sourcing Analysts.
Are there any specific software skills needed for this position?
Strong computer skills, particularly in Microsoft Office applications, especially spreadsheets and PowerPoint, are required.
What is the importance of the value analysis process in this role?
The value analysis process is crucial as it helps gather information for needs assessments, evaluates products for cost and clinical quality, and ultimately aids in decision-making regarding sourcing strategies.