Job Title: Sr. Strategic Sourcing Analyst
FLSA Status: Exempt
Department: Supply Chain Services
Reports to: Director Strategic Sourcing and Procurement
LORAM MAINTENANCE OF WAY. Loram is a leading supplier of track maintenance and friction management services and equipment in North America and around the globe. We provide maintenance of way services to all Class I railroads and many short line, transit and commuter railroads. Loram has more than 250 machines and 2,300 friction management units located in 16 different countries.
Over 60 years of serving the railroad industry with the most advanced technologies, the most reliable and productive maintenance of way equipment and the expert services that set Loram apart. That’s the Loram difference.
GENERAL DESCRIPTION / PURPOSE:
The Sr. Strategic Sourcing Analyst is responsible for building and managing macroeconomic and category market economic intelligence insights across the Loram Sourcing and Procurement team. These insights will help drive market related sourcing decisions for both the entire portfolio of direct and indirect spend. This role reports directly to the Director of Sourcing and Procurement and will work in a team environment that provides support and guidance to ensure that the Sourcing and Procurement organization is effectively serving its internal stakeholders.
This role contributes to Loram success by independently analyzing complex data and market industry information from multiple sources to provide actionable strategic sourcing plans to leadership. The Sr. Strategic Sourcing Analyst has a proven ability to act as both a functional and technical consultant to provide independent perspective with the courage to challenge partners to think outside the box and drive appropriate Total Cost of Ownership (TCO) solutions.
ESSENTIAL JOB FUNCTIONS:
Economic Research, Analytics and Data Mining
· Understand key cost drivers and how the underlying commodity dynamics influence total cost management for the Sourcing and Procurement teams on a Regional and Global level.
· Track and communicate industry trends, competitive situations, commodity price trends, and supply/demand.
· Collaborate with Sourcing team to develop risk management strategies that combine market outlook with business needs.
· Elevate organizational knowledge of strategic and critical raw material markets through rigorous analysis and effective communication of insights thru the visualization of market data using Tableau, SharePoint, PowerPoint and other tools.
· Develop cost models that provide deep and meaningful insight to the Sourcing team through the evaluations of supply markets, supplier economics, and supply/demand dynamics.
· Cultivate and maintain effective working relationships with internal and external stakeholders. Build and exhibit cross-functional influence across virtual and in-person teams covering multiple regions and cultures.
· Participate on cross functional and sourcing teams to evaluate new business opportunities and create financial models to assess and support sourcing goals that align to business needs.
· Provide coverage recommendations for key commodities based on determined price outlook recommendations to Procurement and Sourcing teams to inform buy/sourcing strategies.
· Lead the coordination and preparation of materials such as slide presentations, narrative documents, charts, graphs, reports, etc. for senior leadership that drive recommendations and actions in the change management processes.
Sourcing Projects & Supplier Metrics
· Identify, develop, and maintain Sourcing & Procurement metrics that align with business strategies.
· Conduct detailed opportunity assessments, benchmarking, demand, spend, cost and market analysis in a structured approach to tendering, negotiating, and contracting with suppliers.
· Assist in the implementation of long-range and short-range supply chain and procurement strategies and programs that ensure material supply and cost containment goals for Loram.
· Establish external supplier assessments and score cards to enable effective Supplier management performance.
· Action Orientated
· High Impact Communication
· Interpersonal Savvy
· Building Partnerships
· Passion for Results
· Problem solving