What is a Sourcing Manager job?
A Sourcing Manager job is a type of procurement role that involves overseeing the purchasing of goods and services for a company. The primary responsibility of a Sourcing Manager is to find the best suppliers, negotiate favorable contracts, and manage supplier relationships to ensure timely delivery of goods and services.
What do Sourcing Managers usually do in this position?
Sourcing Managers are responsible for identifying new suppliers and negotiating contracts with them. They also work to maintain relationships with existing suppliers and ensure they are adhering to the terms of their contracts. Additionally, Sourcing Managers track market trends and analyze data to determine the best purchasing decisions for their company.
Top 5 skills for a Sourcing Manager position
- Excellent negotiation skills
- Strong analytical and problem-solving skills
- Effective communication skills
- Ability to manage multiple projects simultaneously
- Proficiency in data analysis and reporting
How to become a Sourcing Manager specialist
To become a Sourcing Manager specialist, typically one needs a bachelor's degree in business or a related field. Some companies may require a master's degree or equivalent experience. Additionally, experience in procurement or supply chain management is important. Strong communication, negotiation, and analytical skills are also essential for success in this role.
Average salary for a Sourcing Manager
The average salary for a Sourcing Manager varies depending on the industry and location. In the United States, the average salary is around $90,000 per year. However, salaries can range from $60,000 to $130,000 depending on the company, location, and level of experience.
Roles and types of Sourcing Managers
There are various types of Sourcing Managers, including Strategic Sourcing Managers, Category Sourcing Managers, and Tactical Sourcing Managers. Strategic Sourcing Managers focus on long-term sourcing strategies and supplier relationship management. Category Sourcing Managers specialize in specific categories such as IT or marketing. Tactical Sourcing Managers are responsible for day-to-day procurement activities.
Locations with the most popular Sourcing Manager jobs in the USA
The most popular locations for Sourcing Manager jobs in the United States are typically major metropolitan areas such as New York, Los Angeles, and Chicago. However, many companies are now offering remote work opportunities, which can expand job opportunities for Sourcing Managers.
What are the typical tools used by Sourcing Managers?
Sourcing Managers use a variety of tools to perform their job duties, including procurement software, supplier databases, and data analytics tools. They also use communication and collaboration tools to manage relationships with suppliers and internal stakeholders.
In conclusion
A career as a Sourcing Manager can be rewarding for those with strong negotiation, communication, and analytical skills. With the right education, experience, and tools, one can become a successful Sourcing Manager and play an important role in the procurement and supply chain management of a company.