The Senior Strategic Sourcing Specialist is responsible for sourcing strategy development, execution of defined category sourcing playbooks and leading Sourcing Analysts in performing daily transactional purchasing activities to meet the needs of internal business partners and drive value for assigned spend categories. This position brings more sourcing experience and contracting skills to the job and will take an active role in establishing higher-dollar value/more complex contracts (e.g. high risk, > $100K) with suppliers for timely acquisition of goods and services while maintaining compliance with Highmark's procurement policies and procedures and other state and federal acquisition regulations (e.g., HIPAA, privacy protocols). This position is also responsible for providing contract management and supplier relationship management support and improving performance of assigned spend categories across the organization.
Further, the Senior Strategic Sourcing Specialist will build strong working relationships with Procurement Consultants and internal business partners and serve as a subject matter expert on evaluating and recommending appropriate category sourcing strategies and tactics to obtain desired category performance results and meet corporate supplier diversity spend goals. The Senior Sourcing Analyst position requires working knowledge of the technical category specifications, commercial aspects and supply market of their assigned spend categories. For categories and spend not formally managed by a Procurement Consultant, this position will provide leadership for each category including strategy/plans, strategic sourcing and other strategic procurement processes such as supplier relationship management, spend performance management, and category governance.
Specific responsibilities include, but are not limited to:
- Lead cross-functional strategic sourcing effort and contracting activities to fulfill internal business needs for higher-dollar value goods and services. Gather/analyze business requirements and set sourcing strategies that leverages Highmark's competitive positioning in the marketplace to ensure the best quality, pricing and delivery of goods and services. Identify and pre-qualify potential sources of supply, ensuring inclusion of small and disadvantaged suppliers. Prepare and send bid solicitations -- Request for Information (RFI), Request for Quotations (RFQs), and Request for Proposals (RFPs) -- in compliance with corporate policies and procedures. Evaluate quotes/proposals and communicate award recommendations based upon pre-defined selection criteria (e.g., benefits/cost savings, quality/service, supplier diversity spend targets, etc.). Develop negotiation strategies and establish contractual agreements with selected suppliers using pre-approved category-specific contract templates and clauses. Escalate contract negotiation disputes and points of contention to sourcing and procurement management for resolution, as necessary. Assist procurement operations with supplier transitioning and implementation activities, as required.
- Manage the contract lifecycle in coordination with contract administration and internal business partners; including renewal or termination of expiring contracts and negotiation of contract changes, statements of work (SOWs) and amendments to terms and conditions, as necessary. Reroute and facilitate approval of contractual changes, as necessary, and communicate new terms to appropriate stakeholders.
- Build and maintain strong working relationships with supplier relationship management and internal business partners to support preparation activities for conducting periodic supplier review sessions; including assessment of supplier performance against KPI targets and contractual service level agreements (SLAs). Additionally, support supplier relationship management and internal business partners in managing action items and requirements coming out of the supplier review sessions for improving supplier capabilities and performance.
Position expectations:
- Ability to influence the formulation of supplier strategies by proactively ensuring that knowledge and perspective are considered early and incorporated in the development of sourcing strategies.
- Ability to forecasts industry trends and links insights to strategy development and strategic supplier relationships.
- Ability to create bidding strategies and bid evaluation criteria
- Possess thorough knowledge and broad application of financial concepts as they apply to the purchasing of services and incorporates Total Cost of Ownership and other financial concepts into sourcing project execution.
- Ability to utilize game theory to anticipate supplier moves and develop optimal Highmark negotiation strategies
The successful candidate will have the following qualifications:
- Bachelor's Degree of Business Management or related field or over five years of professional experience in sourcing and contracting indirect spend categories. Master's Degree in Business or Supply Chain Management is preferred
- Experience in procurement technology and related processes, contract management, and spend analysis
- Experience in contract language and effective negotiations for assigned categories
- Minimum of 5 years experience of delivering cost savings for healthcare payor organizations
- Must have in-depth knowledge of key procurement operations processes and current best practices
- Certified Processional in Supply Management (CPSM) or Certified Purchasing Manager (CPM) or equivalent is preferred
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