8 hours
2018-08-162018-09-14

Manager, Strategic Sourcing

Prudential
Newark, NJ
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  • Job Code
    473698
Position Title: Manager, Strategic Sourcing
Job Code: 473698
Job Location: New Jersey-Newark
Description:

Prudential’s Sourcing and Procurement Group is undergoing a significant transformation initiative to maximize the value of the Sourcing and Procurement function for enterprise third party spend and agreements. This is your opportunity to join a rapidly evolving organization focused on achieving ambitious savings targets and value creation goals.

As a Strategic Sourcing Manager, you will be responsible for pursuing savings opportunities and meeting demand requirements through tactical and strategic sourcing initiatives in support of internal businesses. You will lead cross-functional teams to evaluate vendor capabilities, risk and pricing against business requirements and recommend the appropriate suppliers to provide goods/services. You will also manage vendor relationships and expectations during sourcing initiatives, and you will lead the sourcing events either independently or under the direction of a Category Manager.

Job Responsibilities:

  • Analyze category spend to identify opportunities to reduce individual contract/sub-category spend utilizing all savings levers. Support business case development for larger initiatives
  • Independently lead cross functional teams through the execution of strategic sourcing projects and facilitate inclusion of subject matter experts, (e.g., Legal, Vendor Governance, Risk) at appropriate times throughout the event
  • Assist in developing project sourcing plans
  • Develop and issue comprehensive RFPs
  • Ensure adherence to sourcing and contracting policies, procedures and standards including the assessment, mitigation and monitoring of vendor risk
  • Document and execute comprehensive vendor negotiation scripts that reflect and maximize Prudential’s buying power, focus on service quality/performance and minimize risk exposure
  • Establish and maintain strong relationships with key suppliers and internal business stakeholders including Legal, Risk and Vendor Governance associates
  • Conduct market and supplier analysis to identify market trends for opportunities to reduce cost
  • Participate on various process improvement teams in an effort to enhance procurement processes as required:
    • Sourcing, Contracting and Supplier Performance and Risk Management business process improvements and technology solution implementation
    • Procurement performance reporting and savings
    • Purchasing policy and process compliance

  • Bachelor’s Degree required; Business, Supply Chain or Finance a plus
  • 5-7 years professional work experience with at least 3 years in procurement and/or managing vendor relationships
  • Proven ability to implement sourcing and procurement methodologies
  • 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, stakeholders and senior leadership
  • 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 staffingagencies@prudential.com for more information about doing business with Prudential.
Job Function: Procurement
Schedule: Full-time

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Manager, Strategic Sourcing

Prudential
Newark, NJ

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