Job Title: Procurement Analyst
Location: Arlington, VA
Job Summary:
The Procurement Analyst is responsible for evaluating suppliers, negotiating contracts, and analyzing procurement processes to ensure cost-effectiveness and efficiency. This role involves monitoring industry trends, conducting market research, and collaborating with internal stakeholders to meet the organization's procurement needs. The Procurement Analyst plays a key role in optimizing supply chain operations and contributing to the organization's strategic goals.
Key Responsibilities:
Supplier Evaluation and Management:
- Analyze supplier performance based on key metrics such as cost, quality, delivery, and service.
- Assist in the development and implementation of supplier scorecards and performance reviews.
- Identify and recommend potential new suppliers to diversify the supplier base
Contract Negotiation and Management:
- Negotiate pricing, terms, and conditions with suppliers to achieve optimal cost savings.
- Prepare and review contracts, ensuring compliance with company policies and legal requirements.
- Monitor contract expiration dates and manage renewals or re-negotiations as needed.
Data Analysis and Reporting:
- Collect and analyze procurement data to identify cost-saving opportunities and areas for process improvement.
- Develop and maintain procurement dashboards and reports for senior management.
- Conduct spend analysis and forecast procurement needs to align with business objectives.
Market Research:
- Conduct market research to stay updated on industry trends, pricing, and emerging technologies.
- Provide insights and recommendations based on market analysis to support strategic sourcing decisions.
Process Improvement:
- Identify inefficiencies in the procurement process and propose solutions to enhance productivity.
- Work closely with cross-functional teams to implement process improvements and best practices.
- Assist in the development and implementation of procurement policies and procedures.
Risk Management:
- Identify and mitigate risks associated with supply chain disruptions, price fluctuations, and supplier dependencies.
- Ensure compliance with regulatory requirements and ethical standards in procurement activities.
Qualifications:
- Bachelor's degree in Supply Chain Management, Business Administration, Finance, or a related field.
- 2-4 years of experience in procurement, supply chain management, or a related role.
- Strong analytical skills with proficiency in data analysis tools (e.g., Excel, Power BI, SQL).
- Excellent negotiation and communication skills.
- Knowledge of procurement software (e.g., SAP Ariba, Coupa) is preferred.
- Strong attention to detail and the ability to manage multiple tasks simultaneously.
- Certification such as Certified Professional in Supply Management (CPSM) or Certified Purchasing Professional (CPP) is a plus.
