Principal Sourcing Manager

📋 Description

• • Lead strategic sourcing initiatives for defined third-party categories across all phases, including supplier identification, negotiation, contract development, and performance governance.
• • Develop and execute complex category strategies that align with enterprise-wide sourcing goals, ensuring competitive supplier environments and sustainable cost savings.
• • Negotiate supplier agreements to achieve optimal cost, service guarantees, and contractual terms while building win-win relationships that ensure continuity of supply.
• • Evaluate supplier core competencies and competitive positioning using industry cost models and market intelligence to inform sourcing decisions.
• • Research and anticipate shifts in supplier negotiating power and market dynamics to proactively mitigate risks and capitalize on emerging opportunities.
• • Implement and manage vendor selection processes for assigned categories, providing guidance to other sourcing leaders on best practices and supplier engagement.
• • Maintain and deepen relationships with key suppliers through regular engagement at trade shows, conferences, and strategic meetings.
• • Collaborate with cross-functional stakeholders including IT, finance, operations, legal, HR, and sales to align contract terms with business needs and resolve escalations or disputes.
• • Execute vendor governance programs by defining performance metrics, setting improvement goals, and monitoring supplier compliance and deliverables.
• • Support global sourcing teams in developing annual operating budgets, savings targets, and strategic initiatives, ensuring alignment with financial planning and analysis (FP&A) processes.
• • Monitor and identify value leakage within supplier agreements and implement corrective actions to safeguard savings and optimize spend.
• • Provide forecasting insights for future renewals, demand changes, and service expansions based on vendor lead times and market trends.
• • Challenge traditional thinking by analyzing cost drivers and presenting data-driven alternatives to improve efficiency and reduce expenditures.
• • Ensure full compliance with company sourcing policies, procurement standards, and legal requirements for third-party agreements.
• • Lead, mentor, and develop direct reports through coaching, performance reviews, and career development planning.
• • Oversee staffing, recruiting, and training activities for the sourcing team to build capability and sustain high-performance standards.
• • Drive continuous improvement of sourcing processes to increase productivity, reduce cycle times, and enhance overall organizational efficiency.
• • Present findings, recommendations, and strategic insights to senior leadership including Directors, AVPs, and VPs to influence business decisions.
• • Demonstrate thought leadership by applying advanced sourcing and supplier management concepts to assigned categories and sharing industry best practices.
• • Utilize advanced MS Office and Excel skills to analyze data, build financial models, and create executive-level reports and presentations.
• • Engage confidently with C-suite executives and senior leaders within Assurant and at supplier organizations to negotiate and align on strategic priorities.
• • Demonstrate commitment to supplier diversity initiatives and actively promote inclusive sourcing practices.
• • Manage multiple high-value, complex projects simultaneously, ensuring timely, on-budget delivery against defined success criteria.