Manager, Strategic Sourcing
Job Code: 402018
Job Location: New Jersey-Newark
Summary job description and key responsibilities:
This individual is accountable for executing the sourcing strategy for the non-IT contingent labor spend category for domestic businesses ($30M annual spend) under the direction of the Category Lead. Responsibilities include, but are not limited to spend analytics, tactical and strategic souring for temporary resources, contract negotiations, vendor performance management, reporting and savings tracking.
This individual has responsibility for helping businesses comply the Company’s Engagement of Contingent Workers Policy to ensure compliance with relevant employment and tax laws. The individual acts in an advisory role with our business partners on cost, service, market, and risk (in consultation with HR and Legal) related to engaging non-employee workers to perform services.
The Sourcing and Procurement Category Manager is responsible for developing, managing and executing the sourcing strategy for the non-IT contingent labor category under the direction of the Category Lead. The Manager pursues savings opportunities and demand requirements through tactical and strategic souring initiatives in support of internal businesses. Leads cross-functional teams to evaluate vendor capabilities, risk and pricing against business requirements and recommends the appropriate suppliers to provide services. Manages contingent labor vendor relationships.
- Analyze category spend to identify opportunities to reduce individual contract/sub-category spend utilizing all savings levers. Support business case development for larger initiatives.
- Manage cross functional vendor evaluations as part of the strategic sourcing process following standard sourcing and governance policies and processes
- Negotiate, execute and manage vendor contracts with a focus on maximizing Prudential’s buying power, service quality/performance and minimizing risk exposure.
- Source requirements that cannot be met by an existing supplier.
- Support the Vendor Enablement process by ensuring new vendors have been properly on-boarded including creating and maintaining vendor records, iSupplier access and obtaining required documentation to facilitate payment processes.
- Manage contingent labor vendor relationships
- Act as a liaison in resolving issues between supplier and associates required to complete procurement transactions (e.g., vendor performance, expedited requests)
- Monitor vendor performance against contracted SLAs and KPIs
- Monitor procurement category reporting to identify non-compliant purchases and partner with associates and Business Units to educate and raise awareness of appropriate process for purchasing needed goods/services.
- Partner with key stakeholders to ensure business needs are met
- Bachelor´s Degree in Business, Supply Chain or related discipline
- 5-7 years professional work experience with at least 3 years in a procurement and/or vendor management function.
- Category specific knowledge (marketplace, trends, key vendors, procurement methods) and demonstrated experience managing tactical or strategic sourcing initiatives in one or more indirect spend categories
- Excellent analytical ability to quickly gather facts, perform root cause analysis, draw conclusions and recommend appropriate course of action.
- Strong relationship management skills with ability to partner and build professional relationships in a cross-functional environment
- Ability to build consensus and act as an independent arbiter to achieve sourcing outcomes that meet business requirements without sacrificing service or increasing risk/cost
- Experience reviewing and evaluating standard terms and conditions and experience negotiating vendor agreements
- Strong organizational skills including the ability to work on multiple projects simultaneously and bring them to resolution.
- Experience with Source to Pay lifecycle tools and processes; Oracle Purchasing Suite a plus
- Superior oral and written communication and interpersonal skills for interaction with team members and stakeholders including senior management
- Proficient in MS Excel, MS Word, PowerPoint, Project and Visio
- Professional designation (CPM, CPSM) a plus
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at firstname.lastname@example.org for more information about doing business with Prudential.
Job Function: Procurement