The Procurement Analyst assists and supports a specific area of supply chain management, e.g., procurement, contracting, sourcing, supplier relationship management, and process development. Depending on the Analyst's level of experience, the analyst will be asked to process contracts and purchase agreements for a given category or sub-category. The Procurement Analyst is expected to apply existing technology, procedures, principles, and analytical rules to routine assignments. The Procurement Analyst works closely with business partners to ensure timely delivery of appropriate solutions and solves problems which typically require the application of technical knowledge, concepts, principles, and analytical rules.
Duties can include any of the following:
Contract Management - management of contracts with vendors and includes negotiating the terms and conditions in contracts as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. Process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk
Sourcing - finding, evaluating, and engaging suppliers of goods and services which includes defining business needs (identify what goods or services are required), market analysis (researching potential suppliers and market conditions), and develop sourcing strategy (deciding on the approach for sourcing - whether it's single-sourcing, multiple-sourcing, etc.)
Category Management - segmenting spending into areas that contain similar or related products, allowing for a focused approach on categories that offer opportunities for consolidation and efficiency. Tracking the market to understand pricing trends, regulatory changes, and innovation for the entire category.
Vendor Management - managing the interaction with vendors and maintaining good working relationships with the vendors and internal stakeholders to mitigate risks. Tasks include reducing vendor risks, ensuring service delivery, and help build stronger relationships with vendors which can lead to opportunities to negotiate better rates.
Process Development – drafting and design of processes under specific requirements (quality, cost) and within certain timeframes through defining and describing a sequence of activities that need to be performed to meet the process’s objectives and to produce the process’s desired outcome. Procurement Operations – this involves every activity involved in obtaining the goods and services needed to support daily operations, including sourcing, negotiating terms, purchasing items, and documenting all the steps in the process. Additional roles include travel, company vehicles, telecom, invoicing, credit card administration, procurement business systems, and dealer/corporate events.
Knowledge
- Awareness of supply chain management processes in an assigned area
- Awareness of financial indicators and ability to perform sound economic analysis
- Ability to contribute strategically to the broader needs and goals of the organization, as well as drive superior performance through hands-on, day-to-day management
- Ability to expand role and take on more responsibility over time, and possesses natural leadership tendencie
- Ability to promote highly ethical practice of the Procurement function
Skills
- Possesses a collaborative, and relentless approach to process improvement and ability to work with category leads and business partners to achieve best in class results, specifically in areas of cost, cycle time throughput, and customer service
- Basic ability to support category leads in category strategy by assisting with data, and contract information on ad-hoc basis
- Provides assistance with operational service and support when needed
- Proficient at scheduling and executing daily tasks needed to provide high-quality level of service and meet timelines
- Active participant in Procurement Operations projects and initiatives, and focuses on providing process improvement techniques at a basic level
- Develop working relationships that motivate suppliers to deliver required level of service and to facilitate swift and effective resolution of issues, through basic supplier performance management techniques
- Good analytical skills, ability to understand strategies and business-related concepts
- Good organizational and time management skills
- Must be self-motivated and fully aware of the implications of his/her actions
- Good verbal and written communication
- Bachelor’s degree in supply chain management, or closely related Business field
- 2-4 years background in Procurement; experience negotiating with vendors; Oracle or other procurement software experience