Strategic Sourcing Manager
Prestige Brands, Inc. markets, sells and distributes over-the-counter healthcare and household cleaning products to retail outlets in the US, Canada, and certain international markets. Prestige Brands offices are located in Tarrytown,NY, Jackson, WY, and Bentonville, AR.
Our company has grown by acquiring strong and well-recognized brands from larger consumer products and pharmaceutical companies. We believe that these brands were considered non-core under previous ownership and, in most cases, did not benefit from the focus of senior level management, strong brand support or innovation. Our management has provided each brand with the marketing support and senior level attention necessary to enhance the brand’s market position, expand its distribution and successfully launch line extensions and new products, with the goal of maintaining and enhancing consumer satisfaction.
The Strategic Sourcing Manager holds a key position in our Operations Department, responsible for managing relationships, bids and their evaluation, issue resolution, cost, supply agreements and cost/process improvement projects with our suppliers. Evaluation of potential suppliers for new products is an important aspect of the position, along with being the business relationship manager to cultivate new supply arrangements for these new product launches. The Manager will also contribute to development of the evolving sourcing strategy for the company, supplier score carding, supply risk evaluation and mitigation, CIT (Continuous Improvement Team) Leadership and contract development and negotiation.
Essential Duties and Responsibilities:
Leads the business relationship and establishes trust and partnerships with assigned suppliers, including third-party manufacturers, packagers and strategic material providers.
Understands the relevant cGMP regulations and Prestige Brands Quality Standards that apply to our portfolio of OTC Monograph, NDA, Dietary Supplement, and Medical Device products, and translate these in practical ways in evaluation of potential suppliers.
Lead the bidding process, analysis, evaluation, and sourcing recommendation for assigned categories, using standardized templates and taking into consideration the quantitative and qualitative aspects of the sourcing choices.
Be the escalation focal point for issues that arise in day-to-day business, when these issues are not resolvable by the supply planning leaders.
Manage cost of goods sold (COGs) for assigned portfolio of products, and the budgeting process, taking into account supply agreements, commodity changes, cost/efficiency improvement projects and other factors. Work cross-functionally internally and with supply partners to proactively address potential cost increases.
Work closely with the Department Director on Supply Agreements, and their negotiation and renewals with proper planning and lead time.
Lead the cost and process improvement projects for assigned portfolio, working with cross-functional internal team and the supply partners to identify and quantify potential projects, vet these within the organizations, and then follow the approved projects through to successful implementation.
Lead the capability, capacity and cost evaluation of NPD concepts with supply partners, and work collaboratively with the NPD group in the evaluation and establishment of accurate COGs and timelines for new product commercialization.
Working closely with the Department Director and VP of Operations, contribute to the future supply strategy for the company, staying current with industry changes and trends. Attend industry trade shows with an eye toward early identification of potential supply partners for product concepts in the NPD pipeline.
Support and contribute to the supplier score carding process for assigned portfolio, and set up a routine monitoring and feedback system to provide timely and meaningful KPIs back to our supply partners.
Works closely with our Quality and Supply Planning Leaders and assigned Supply Partners to identify risks in our supply chain; initiate projects where appropriate to mitigate these risks.
B.S. Degree in a technical area such as Chemistry, Engineering,Mathematics or a degree in Supply Chain Management. ISM Certification a PLUS.
10+ years experience with supplier management, procurement, supply planning, plant operations, technical services, project management or ideally a combination of three or more of these areas, preferably including Pharmaceutical and CPG companies.
Experience with Supplier Management, Negotiation and the Procurement function is highly desirable.
Understanding of “cost modeling” and the use of commodity indices is a must.
Successful in leading projects and influencing others on cross-functional teams.
Solid verbal and written communication and organizational skills.
Ability to analyze, draw conclusions, articulate, summarize and present complex information, particularly as it relates to quantitative and qualitative evaluation of manufacturing/packaging options.
Understanding of cGMPs as they relate to OTC Pharmaceuticals, Dietary Supplements and/or Medical Devices.
Must be analytically driven and must thrive in an environment that demands the ability to work independently while successfully multi-tasking on various projects.
Strong problem solving abilities and attention to detail.
Travel up to 25% mainly in North America.