Sourcing
Manager
A firm generally requires materials,
products, and services from outside suppliers to meet a firm’s strategic
objectives. A sourcing manager enables their firm to get access to the best suppliers,
contracts, products and services. Therefore, a sourcing manager focuses on identification,
acquisition, and management relationships with suppliers. These activities are crucial
to a firm’s success, because in most industries purchased goods and services
account for a large percentage of every dollar of revenue the firm takes in.
The responsibilities of a sourcing manager are
ensuring procurement of high quality materials, goods and services at the best
price. This requires a sourcing manager to have good sourcing strategies. For
example, a sourcing manager needs to understand the continuously changing market
conditions and what trends are influencing their industry. This career path isn’t a job that remains
stagnant and boring; it requires a constant sense of urgency with constant
monitoring of the market, researching trends, visiting vendor facilities, and working
with suppliers’ on new innovations. Another task a sourcing manager manages is
to find the most suitable supplier, analyze if their core capabilities align
with their own firm’s goals and thereafter, negotiate contracts to get the
optimal price on products and services.
Generally, a company requires at least a bachelor’s
degree, under the pretenses of a business major, and a master’s degree is
preferred. In addition, most companies require, or at the very least, desire
for their employee to have a Certification in Production and Inventory
Management (CPIM). In order to accomplish and fulfill the role of a sourcing
manager, certain skills are needed to perform the work. Since this career path
is a managerial position, one must be able to direct their team and manage
people within their suppliers. Therefore, people, as well as administrative
skills are needed. Many sourcing managers
often acquire helpful skills such as being able to negotiate contracts with
suppliers by first being a buyer for two or more years
A sourcing manager’s working environment varies
greatly, since all firms and governments, regardless of size and function, need
someone to source goods and services. Therefore, the decision of whom to work
for and where to work for offers many options available for a sourcing manager,
whether it’s working at a traditional office space, a manufacturing company, a
government office, or a hospital.
Those who desire to have a career as a sourcing
manager might want this job because of the relatively high average salary,
which according to indeed.com, is around $78,000. Many career paths are limited
in what one can do, but this job is unique because it holds different options
-one you’re bound to find suitable and enjoyable. Thank you for reading our
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