Job Description
Position Overview
The Sourcing Analyst supports the procurement and sourcing function by conducting market research, analyzing supplier data, identifying cost savings opportunities, and assisting with vendor evaluation and selection processes. This role works closely with procurement teams, stakeholders, and suppliers to optimize sourcing strategies and drive value across the organization.
Key Responsibilities
Sourcing Support and Analysis The Sourcing Analyst conducts comprehensive market research to identify potential suppliers and emerging market trends. This includes analyzing supplier capabilities, pricing structures, and service offerings to support strategic sourcing decisions. The analyst participates in sourcing events including RFx processes (RFP, RFI, RFQ) by preparing documentation, gathering requirements, and evaluating supplier responses against established criteria.
Data Analysis and Reporting This position performs detailed spend analysis to identify savings opportunities and supplier consolidation possibilities. The analyst develops and maintains dashboards and reports to track key procurement metrics including cost savings, supplier performance, and contract compliance. Regular data validation ensures accuracy in sourcing systems and supports data-driven decision making across the procurement function.
Supplier Evaluation and Management The Sourcing Analyst assists with supplier evaluations by conducting research on financial stability, capabilities, and market reputation. This includes supporting due diligence processes, maintaining supplier scorecards, and tracking performance metrics. The role involves coordinating with internal stakeholders to gather requirements and ensure supplier selections align with business needs.
Process Improvement and Documentation This position contributes to continuous improvement initiatives by identifying opportunities to streamline sourcing processes and enhance efficiency. The analyst maintains accurate documentation of sourcing activities, creates process guides, and ensures compliance with procurement policies and procedures.
Stakeholder Collaboration The Sourcing Analyst works cross-functionally with finance, operations, legal, and business unit leaders to understand sourcing requirements and deliver effective solutions. This includes preparing presentations, facilitating meetings, and communicating analysis findings to support strategic decision making.
Required Qualifications
Education: Bachelor's degree in Supply Chain Management, Business Administration, Finance, Economics, or related field.
Experience: 1-3 years of experience in procurement, sourcing, supply chain, or related analytical role. Experience with spend analysis and supplier evaluation preferred.
Technical Skills: Proficient in Microsoft Excel including pivot tables, VLOOKUP, and data analysis functions. Experience with procurement systems (SAP, Oracle, Coupa, or similar) and data visualization tools (Power BI, Tableau) preferred. Strong analytical and quantitative skills with ability to manipulate large datasets.
Core Competencies: Excellent analytical and problem-solving abilities with attention to detail and accuracy. Strong communication skills both written and verbal. Ability to manage multiple projects simultaneously and meet deadlines. Understanding of procurement principles, sourcing methodologies, and category management concepts.
Preferred Qualifications
Experience in commercial real estate, facilities management, or corporate services procurement. Familiarity with contract terms and supplier negotiation processes. Knowledge of market research techniques and competitive intelligence gathering. Certification in procurement or supply chain management (CPSM, CIPS, or working toward certification).
Working Conditions
This position typically works in an office environment with standard business hours. Some flexibility for remote work may be available depending on business needs. Occasional extended hours may be required during peak sourcing activities or project deadlines.
