Sr. Sourcing Manager

At Labcorp you will contribute as an integral part of a dynamic Sourcing and Procurement team and will be responsible for analyzing, evaluating, synthesizing and inter-relating information from internal and external sources when solving problems and making decisions. Identifying critical success factors when developing strategy and plans. Weighing and appropriately balancing technological, market, competitive, and organizational factors to achieve competitive advantage.

Your Sourcing and Procurement role will be a member of cross departmental teams that will include all stakeholders in the decision-making process.

This role reports to the Executive Director, Sourcing and Procurement, using diverse perspectives when developing plans and making decisions and considering possible outcomes of alternative courses of action.

Duties and responsibilities

• Displays competencies and knowledge in contract development, including key contracting principles, standard terms, laws/regulations, and industry standards.
• Drafts, redlines, reviews, and negotiate Direct and Indirect Sourcing category vendor contracts including, but not limited to, Master Services Agreements, Statements of Work, Renewals, etc.
• Applies advanced sourcing methodologies; to include the RFx sourcing processes; to develop negotiating strategies that enable effective negotiations, vendor management and process improvement.
• Management of vendor relationships and manage any escalated issues that involve the vendor/service provider.
• Manages and optimizes supplier performance, including contract compliance, continuous improvement, innovations, and reduction in total cost of ownership
• Works with Legal department to mitigate risk through the review of both legal and business terms.
• Executes legal documentation ensuring compliance with legal requirements
• Builds strong partnerships with internal stakeholders to identify new opportunities for negotiated cost savings and measure business impact.
• Collaborates with cross-functional teams to ensure sourcing strategy aligns with business requirements
• Communicates effectively with vendors, customers, and senior management.
• Prepares and occasionally provides presentations on project/category savings and category spend analysis to Leadership and user groups.
• Be process driven and project focused with ability to prioritize and get projects completed in a timely manner while responding to the changing demands of the business and market.
• Applies best practice for data collection and analysis, risk assessment, stakeholder identification and involvement, total cost of supply, standardization of products and services, building demand plans, contract negotiations, implementation of contracts and change management.

Minimum Education and Experience, required

• Degree Qualified (BA or BS Degree in Supply Chain, Business Management, or related field, required)
• Minimum of 5 years' experience with Project Management of Direct and /or Indirect Sourcing and Procurement
• Must have the ability to regularly collaborate with Sourcing leadership and other  leaders leveraging S&P skills; project best practices and outcomes.

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Preferred Qualifications

• Seven years (7) of Project Management of Indirect Sourcing & Procurement for goods and services, contracting
• Professional designations/certifications/licenses: CPSM or MCIPS

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Skills and Competencies

• Proven understanding and knowledge of key contractual terms
• Strong analytical skills: data analysis capabilities for market trends and cost optimization
• Effective communication skills: essential to collaborate, build rapport internally and externally
• Negotiation skills: proficiency in negotiating contracts and agreements to secure favorable terms
• Strategic thinking: ability to develop and execute sourcing strategies for the service lines
• Risk management: identify and manage risks to ensure continuity
• International mindset: understand global markets and sourcing strategies for global supply chains
• Legal knowledge: understand commercial contracts and able to interpret clauses and negotiate best outcome
• Ability to complete analytical evaluations to be presented to senior leadership decision makers

Labcorp is proud to be an Equal Opportunity Employer:

Labcorp strives for inclusion and belonging in the workforce and does not tolerate harassment or discrimination of any kind. We make employment decisions based on the needs of our business and the qualifications and merit of the individual. Qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), family or parental status, marital, civil union or domestic partnership status, sexual orientation, gender identity, gender expression, personal appearance, age, veteran status, disability, genetic information, or any other legally protected characteristic. Additionally, all qualified applicants with arrest or conviction records will be considered for employment in accordance with applicable law. 

We encourage all to apply

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