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Sourcing Analyst

Integrated Resources, Inc
  • Chicago, IL
  • $28–$31.07 Per Hour
  • Quick Apply
22 days ago

Job Description

Sourcing Analyst
Onsite/Hybrid in Chicago, IL 
Contract to Hire
Pay Rate:- $28 - $31.07
Job Description:
  • This position is responsible for participating in, supporting and performing the sourcing and procurement activities related to business-critical initiatives, Clienting the best value through appropriate and rapid supplier competition for Client.
  • These initiatives may include specialized health insurance products, services, Business Process Outsourcing (BPO), Information Technology categories such as services/software/equipment/telecom, and other commodity categories.
  • Also responsible for making recommendations to the Sourcing management team based on data analysis leveraging both internal and external resources.
  • This position is a key team member in the procurement organization and, as such, contributes to product and service quality and cost savings captured through strategic sourcing, demand management, and process improvements.
     
ESSENTIAL FUNCTIONS:
  • Perform negotiation, strategic sourcing and contracting activities for the acquisition of goods and services - cross-categories and lines of business.
  • Prepare reports, perform spend analysis, and benchmark category spend.
  • Perform sourcing events, negotiation and contracting processes by analyzing key data from various sources, including, but not limited to, purchase orders, RFx events, and legal documents.
  • Ability to manage heavy workload and prioritize based on business impact
  • Perform negotiation, strategic sourcing and contracting activities with focusing on - 1) increasing throughput / volume; 2) driving consistent / competitive supplier tension; 3) enhancing speed / cycle time to enable the business; and 4) gathering supplier data & market intelligence to feed back to Category areas.
  • Gather 3rd party secondary research for the purposes of sourcing events.
  • Participate in Supplier Relationship Management (SRM) meetings with suppliers and internal stakeholders/business owners - as required.
  • Generate supplier performance reports for established metrics and overall program monitoring.
  • Participate in the analysis of internal and external market data to develop risk assessments, competitive intelligence, best practices, etc., related to sourcing events.
  • Research fact-based inquiries.
  • Maintain Corporate Strategic Sourcing databases.
  • Perform interviews of key internal stakeholders / business owners to define specifications and requirements.
  • Develop financial models to support the sourcing process.
  • Prepare documentation of workflows associated with total cost of ownership analysis in support of sourcing strategies.
  • Assist in the development of financial and/or analytical models to support the sourcing function.
  • Support the negotiation and preparation of standard legal documents.
  • Participate in the implementation and transition processes upon completion of a sourcing event - as required.
  • Make suggestions to management regarding the continuous improvement of the procurement organization.
  • Support vendor rationalization and demand management activities.
  • Participate in the development and documentation of strategic sourcing policies and procedures.
  • Maintain effective communication with management.
  • Comply with HIPAA, Diversity Principles, Corporate Integrity, and Compliance Program policies.
  • Maintain complete confidentiality of company-related business.
  • Maintain effective communication with management regarding developments within areas of assigned responsibilities and perform special projects as required or requested.
 
JOB REQUIREMENTS:
  • Bachelor’s degree with 2 years’ experience in financial analysis, business, supply chain / supply chain management, strategic sourcing, negotiation and / or contracting 2 years’ experience in financial analysis
  • Research and analytical skills
  • Ability to function in ambiguous and/or time-sensitive situations
  • PC skills with off-the-shelf analytical tools and software (e.g. MS products - Outlook, Excel, Word, Access, PowerPoint)
  • Verbal and written communication skills, including correct grammar, clear, concise, and appropriate word choice and tone
  • Listening and interpersonal skills
  • Experience working in teams
 
PREFERRED REQUIREMENTS:
  • Medical Management (Med Mgmt) / Information Technology (IT) / Business Processing Outsourcing (BPO) experience and/or sourcing experience, including the use of electronic sourcing tools in a fast paced, rapidly changing environment
  • Project management and/or negotiation experience
  • Bachelor’s degree in business, finance or technology
  • Presentation skills
  • Ability to create and utilize leverage with Suppliers
  • Knowledge of Client organization
 

Numbers & Facts

LocationChicago, IL
Salary$28–$31.07 Per Hour

Skills

  • Analysis Skillsunmatched
  • Benchmarkingunmatched
  • Best Practicesunmatched
  • Business Process Outsourcingunmatched
  • Business Strategyunmatched
  • Communication Skillsunmatched
  • Competitive Analysis/Strategyunmatched
  • Computer Skillsunmatched
  • Continuous Improvementunmatched
  • Contract Analysisunmatched
  • Contract Negotiationunmatched
  • Corporate Complianceunmatched
  • Cost Analysisunmatched
  • Cost Controlunmatched
  • Data Analysisunmatched
  • Data Collectionunmatched
  • Diversityunmatched
  • Documentationunmatched
  • Documentation Standardsunmatched
  • Establish Prioritiesunmatched
  • Expense Analysisunmatched
  • Expense Reportsunmatched
  • Financeunmatched
  • Financial Analysisunmatched
  • Financial Modelingunmatched
  • HIPAA (Health Insurance Portability and Accountability Act)unmatched
  • Health Information Managementunmatched
  • Health Insuranceunmatched
  • Information Technology & Information Systemsunmatched
  • Interpersonal Skillsunmatched
  • Legal Documentsunmatched
  • Market Analysisunmatched
  • Metricsunmatched
  • Microsoft Access Databaseunmatched
  • Microsoft Excelunmatched
  • Microsoft Outlookunmatched
  • Microsoft PowerPointunmatched
  • Microsoft Product Familyunmatched
  • Microsoft Wordunmatched
  • Negotiation Skillsunmatched
  • Outsourcingunmatched
  • Performance Analysisunmatched
  • Presentation/Verbal Skillsunmatched
  • Process Improvementunmatched
  • Procurement Managementunmatched
  • Project/Program Managementunmatched
  • Purchase Ordersunmatched
  • Purchasing/Procurementunmatched
  • Requirements Managementunmatched
  • Research Skillsunmatched
  • Risk Analysisunmatched
  • Sourcing Strategyunmatched
  • Strategic Planningunmatched
  • Supplier Relationship Management (SRM)unmatched
  • Supply Chainunmatched
  • Supply Chain Managementunmatched
  • Team Playerunmatched
  • Telecommunications Equipmentunmatched
  • Total Cost of Ownershipunmatched
  • Vendor/Supplier Evaluationunmatched
  • Vendor/Supplier Selectionunmatched
  • Writing Skillsunmatched
  • eSourcingunmatched

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