Procurement Specialist

Summary

The Procurement Specialist is responsible for leading initiatives aimed at enhancing our global supply chain in alignment with Global Supply Management (GSM) strategies. This role necessitates comprehensive oversight of procurement processes and close collaboration with key stakeholders and corporate functions to ensure the effective execution of sourcing operations. The Procurement Specialist will also mentor a team of Buyers, providing constructive feedback, guidance, and problem-solving opportunities.

In addition, the Procurement Specialist will oversee subcontracting and purchasing functions, establish contract management standards and operational controls, monitor contract activities, and implement innovative strategies to improve productivity and working capital in accordance with customer needs and GSM objectives.

As a vital member of the Global Supply Management (GSM) Team, the Procurement Specialist will play a crucial role in vendor identification, supply qualification, contract negotiation, and the development of a robust global supply chain. This position involves collaboration with international vendors to support a global operational footprint within a corporate environment.

Key

**Responsibilities**:
Responsibilities include, but are not limited to:

- Lead sourcing and purchasing processes, ensuring alignment with organizational objectives, regulatory requirements, and industry best practices.
- Develop and implement strategies to optimize sourcing, contracting, and procurement activities, enhancing productivity, process efficiency, and supplier performance.
- Establish governance frameworks and performance metrics to monitor contract compliance, spend management, and procurement effectiveness.
- Introduce innovative ideas to achieve desired business outcomes and monitor progress through key performance indicators (KPIs).
- Support the Procurement Leader with tasks necessary to meet Global Supply Management (GSM) objectives.
- Issue purchase orders, confirm acknowledged dates, and maintain open purchase orders to ensure accurate delivery dates and quantities while maintaining optimal inventory levels.
- Provide leadership to Strategic Buyers to maintain optimal inventory levels.
- Support Global Working Capital Improvement initiatives and assist Global Materials Management (GMM) in executing the inventory management plan.
- Collaborate with cross-functional teams to ensure seamless execution of Source-to-Contract (S2C) and Procure-to-Pay (P2P) processes.
- Drive innovation within the procurement function by leveraging technology and process improvements.
- Plan and manage the effective handling of purchased custom components, supporting corporate targets for customer on-time delivery, working capital, and productivity.
- Collaborate with corporate procurement network commodity experts and regional procurement specialists globally to develop and qualify the best cost strategy for materials in your portfolio.
- Work with operations and design teams to qualify new materials and identify and develop new vendors to achieve productivity savings.
- Ensure compliance with sustainability and trade control requirements in collaboration with suppliers.
- Adhere to Health and Safety Regulations and ensure compliance with ISO guidelines.
- Complete miscellaneous duties and tasks as assigned.
- Advise the Manager on any areas of concern, seeking guidance as needed.

Preferred Qualifications
- Advanced degree in Business, Finance, or a related field.
- Minimum 5 years experience in Procurement and/or Supply Chain
- Professional certification in procurement, supply chain management, or Project Management Professional (PMP).
- Experience with digital transformation in procurement.
- Experience in a multinational corporation or global business environment.
- Ability to analyze operational tactics while engaging with overarching strategies.
- Strong interpersonal skills to effectively interact and influence teams, executives, and cross-functional groups.
- Creative problem solver with a proactive approach, balancing structure with the need for agility and innovation.
- Excellent verbal and written communication skills, capable of distilling complex concepts into actionable recommendations.
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Who we are:
Mold-Masters is a global leader in the plastics industry. We design, manufacture, distribute, sell and service highly engineered and customized plastic processing equipment and systems. Our hot runners, temperature controllers, auxiliary injection and co-injection systems are utilized by customers of all sizes in every industry, from small local manufacturers to large worldwide OEM manufacturers of the most widely recognized brands. Over the course of our 50+ year history, we've built our reputation on delivering the best performance through our broad range of innovative technologies that optimize production to enhance molded part quality, increase productivity and lower part c