Strategic Sourcing Analyst, Plastics
The Sourcing Analyst role is responsible for supporting the Strategic Sourcing organization in developing, managing, analyzing and preparing recommendations on sourcing initiatives for Plastic commodities. We are seeking candidates with the following characteristics:
- Experience using a Strategic Sourcing process,
- Has strong data analysis and problem-solving skills
- Business acumen/leadership & communication skills,
- Is a fast learner, intellectually curious
- Has strong interpersonal “soft skills”
- Is a strategic and proactive thinker
- Can work independently
- Can prioritize shifting deadlines
- Has a proven track record of managing without authority to deliver results; proven skills in solving problems
- Possesses the ability to succeed in a decentralized culture
- Can make decisions “without having all the data.”
Responsibilities (including, but not limited to)
- Data analysis of spend and other supplier information.
- Develop commodity, supply base, & market knowledge
- Be an active champion of ITW’s Strategic Souring Process and support the development of sourcing strategies for Plastics/Resins categories
- Work in partnership with the Segments and Divisions (ITW nomenclature for senior and junior business units, respectively) that consume plastics/resins to gather data to support sourcing strategies
- Support the development of sourcing project timelines & plans against sourcing goals and objectives
- Identify sourcing opportunities that drive value via spend analysis, stakeholder interviews, market trends, previous experience etc.
- Quantify the benefits of sourcing initiatives including the expected savings, baseline spend, and rate and/or demand comparisons
- Provide timely insights into spend information from a variety of sources
- Develop high level understanding of assigned commodities, including but not limited to: current market conditions, key cost drivers, global supply base, and industry terminology, as it relates to creating competitive purchasing programs for ITW companies.
Business Partnership and Relationships:
- Foster strong relationships with key stakeholders, including mid-level Operations, Procurement, and Finance- informing and promoting the Sourcing process while providing useful data-driven insights.
- Capable of managing communications & documentation development to leadership teams
- Maintain effective communications and partner with ITW’s segments and divisions.
- Proactive, self-starter who will work semi-autonomously while managerial team often travels in support of company objectives. Needs to know what is critical and “figure it out” through peer collaboration and independent research/networking
- Support the development of Strategic Sourcing Strategies for Plastic Categories
- Support ITW segments and divisions to implement current strategic sourcing strategies
- Lead data analysis of Plastics annual spend
- Develop accurate category taxonomies within GEP; investigate and recommend standardization opportunities across disparate operating units (functioning in different regions, different languages, and different product offerings).
- Engage in Request for Quote (RFQ) Management
- Manage the Enterprise Preferred Resin Supplier List
- Develop a Plastic specifications and business requirement/needs Data Repository for the Segments & Divisions
- Engage and publish market trend data, pricing analysis, and plastic stakeholder reports
- Support & develop sourcing project timelines
- Report out spend insights on an as needed basis to various stakeholders
- Support the effective transition from current practices to any new practices/models including migration to new sourcing systems and purchasing processes
- Support ITW segments and divisions in meeting the minimum 1% annual savings target (net of inflation/deflation factors).
Qualifications and Experience Requirements
- Bachelor’s degree in Chemical, Mechanical, Industrial Engineering preferred OR a bachelor's degree in any science based discipline with 1 to 2 years of work experience in direct material sourcing, procurement, supply chain, engineering or operations capacity.
- Minimum of one year of experience with a Strategic Sourcing Process
- Requires advanced skills with Excel (pivot tables, vlook ups, Excel programming) and MS Office; ideally familiar with MS Access or other relational database tools.
- Strong business acumen/leadership & communication skills
- Demonstrated ability to take data from multiple sources/formats and cleanse, categorize, and synthesize, to identify patterns and opportunities around sourcing, pricing strategies, etc.
- Willingness to travel as needed (10%-20%)