Director of Procurement
We are seeking a dynamic and results-driven Director of Procurement to join our team. In this crucial role, you will immerse yourself in our extensive vendor network, building and strengthening relationships with key manufacturers. You will manage the full lifecycle of vendor relationships, from understanding and optimizing their processes to executing strategic initiatives that drive product development, cost optimization, and continuous improvement in a rapidly changing compliance environment. Your expertise will be vital in ensuring the success of both our branded products and private label offerings.
Key Responsibilities:
Vendor Relationship Management:
- Develop and nurture strong relationships with current and new manufacturers.
- Quickly familiarize yourself with the operations and processes of key vendors and factories.
- Be the main point of contact between our organization and vendors to ensure smooth and effective partnerships.
Strategy Development & Execution:
- Lead the development and execution of procurement strategies aimed at optimizing pricing, production efficiency, and product quality.
- Work closely with vendors to identify opportunities for cost savings, new product innovations, and process improvements.
Product Development:
- Collaborate with key customers, customer service and purchasing manager to integrate feedback and ensure that vendor capabilities align with new product requirements.
- Identify new product development opportunities in conjunction with vendors to expand our product portfolio.
Vendor Performance Optimization:
- Monitor and assess vendor performance, identifying areas for improvement.
- Provide guidance and support to vendors in addressing weaknesses and enhancing their performance.
- When necessary, identify and source new vendors to ensure continuous product quality and cost efficiency.
Collaboration and Communication:
- Act as a key liaison between other departments to ensure cross-functional alignment.
- Ensure feedback from internal teams is effectively integrated into vendor relationships and product development processes.
Risk Management:
- Evaluate and mitigate risks related to vendor performance, supply chain disruptions, and market changes.
- Work with vendors to resolve any non-conforming materials or finished goods.
- Proactively address potential issues with vendors, taking action to avoid any disruption in product timelines or quality, initiating improvement plans or corrective actions where necessary to maintain product integrity.
Compliance and Regulatory Oversight:
- Work directly with compliance team to ensure procurement practices align with local, national, and international regulations and meet company set standards and specifications.
- Monitor and react to changing government and industry standards to ensure ongoing compliance in the full lifecycle of products.
- Manage documentation and reporting requirements related to regulatory audits and inspections.
- Travel to domestic and international vendors to ensure policies and practices are in place.
Supervise and Collaborate with Purchasing Manager:
- Develop and execute the overall purchasing strategy in alignment with organizational goals and financial objectives.
- Lead and oversee the purchasing manager, ensuring adherence to policies, procedures, and best practices.
- Manage the full procurement lifecycle, from supplier selection to contract negotiation and final purchasing decisions.
- Oversee inventory management practices to ensure optimal stock levels, minimizing excess inventory while ensuring timely supply of materials.
- Collaborate with the purchasing manager and customers service team to forecast demand and manage inventory in accordance with business needs.
- Analyze inventory data to identify trends, forecast needs, and develop strategies for inventory replenishment.
Qualifications:
Experience:
- Minimum of 7-10 years of experience in procurement, supply chain management, or vendor relations, ideally within the manufacturing, consumer goods, or private label sectors.
- Proven track record of working with international vendors and manufacturers.
Skills and Competencies:
- Strong negotiation skills and the ability to optimize pricing and terms.
- In-depth understanding of product development processes and vendor management.
- Excellent communication, interpersonal, and relationship-building skills.
- Strategic thinker with a hands-on approach to problem-solving and driving continuous improvement.
- Ability to analyze data and trends to make informed decisions.
- Collaborative team player with a high level of initiative and leadership skills.
- Ability to travel domestically and internationally as needed.
Education:
- Bachelors degree in business administration, Supply Chain Management, or a related field. An MBA is a plus.
Benefits:
- Profit Sharing Plan
- 401(k) Retirement Plan
- Comprehensive Health Insurance (Medical, Dental, Vision) 100% of monthly premiums covered by Employer
- Short-Term Disability Coverage
- Health Savings Account (HSA)
- Life Insurance
- Paid Holidays
- Generous Paid Time Off
- Performance-Based Bonus Incentives