Strategic Sourcing Specialist

MAKEEN; Saudi Arabia; On-site; SAR 70,000 - 90,000; Full time

Job summary

A leading company in Saudi Arabia is seeking a Sourcing Specialist to enhance supplier relationships and optimize procurement processes. The role involves vendor management, negotiation, and continuous improvement of sourcing strategies to ensure cost-effectiveness and compliance with industry standards.

Qualifications

• Bachelor's degree in Engineering, Supply Chain Management, or Business Management required.
• Professional certification preferred (CIPS, CSCP, CIPP).

Responsibilities

• Identify and onboard suppliers for quality components and materials.
• Negotiate terms and pricing with suppliers.
• Monitor supplier performance and compliance.

Skills

Negotiation

Vendor Management

Market Research

Risk Management

Cost Analysis

Education

Bachelor's degree in Engineering

Bachelor's degree in Supply Chain Management

Bachelor's degree in Business Management

Job description

Job Purpose / Objective

The Sourcing Specialist's role is to assist the company in creating solid relationships with suppliers and maintaining the existing ones. He/she is also responsible for sourcing goods, materials, and services at competitive prices and advising upper-level staff members on which suppliers to contract with. He/she should be able to maintain and update the supplier database and find alternative suppliers if the existing ones are unable to meet their obligations. The job holder should be able to work with the relevant business lines/departments to ensure that costs remain within budget and develop and implement innovative ideas to enhance sourcing strategies.

Key Accountabilities

Vendor Management:

Identify, evaluate, and onboard suppliers who can provide quality components, materials, or services for marine and power generation engine manufacturing.

Negotiation:

Establish and maintain robust relationships with suppliers and negotiate favorable terms, pricing, and contract agreements to optimize cost-effectiveness and ensure on-time delivery.

Supplier Performance:

Monitor and track suppliers performance metrics, ensuring compliance with quality standards, delivery schedules, and regulatory requirements.

Market Research:

Conduct ongoing market research to identify emerging trends, new suppliers, and potential cost-saving opportunities. Continuously evaluate and benchmark supplier capabilities and pricing to optimize sourcing strategies.

Supply Chain Optimization:

Collaborate with cross-functional teams, such as engineering, manufacturing, and logistics, to ensure smooth procurement processes, reduce lead times, manage inventory levels, and minimize risks.

Risk Management:

Assess and mitigate potential supply chain risks, including price volatility, component shortages, geopolitical instability, or environmental factors, to ensure the uninterrupted flow of materials.

Cost Analysis:

Analyze and report on procurement-related data, including pricing, cost savings, and vendor performance, to support strategic decision-making and cost optimization initiatives.

Compliance:

Ensure compliance with applicable laws, regulations, and industry standards related to sourcing, supplier management, and sustainable practices.

Continuous Improvement:

Identify areas for process improvement, implement best practices, and drive initiatives to optimize sourcing efficiency and effectiveness.

Requirements

Education

Bachelor's degree in Engineering in any field, Supply Chain Management, and/or Business Management.

Professional Qualifications

Holding a professionally recognized certification is preferable such as:

• Chartered Institute of Purchasing and Supply (CIPS)
• Certified Supply Chain Professional (CSCP)
• Certified International Procurement Professional (CIPP