A senior sourcing specialist is responsible for planning and purchasing material, organized by specific commodities, and supporting new product launches. They also manage commodities assigned to them for quality, delivery, and cost to meet the department and company's goals and objectives. They also develop partnerships with key suppliers that support the overall operational excellence goals.
Senior sourcing specialists build relationships with suppliers to facilitate the sourcing process and negotiate deals and contracts with suppliers to ensure budgetary compliance. Moreover, they also draft contracts that will be reviewed by both the company and suppliers. Lastly, they must understand the company's commodities and have an in-depth knowledge of the industry they are working in. Essential skills include having sourcing experience, a deep understanding of the commodity, and computer skills. As this is a senior post, a master's degree in an industry-related field is required along with at least five years of experience, although more is preferred.
The average hourly salary for the position is $36.37, which amounts to $75,654 annually. The senior post comes with a lot of responsibilities to fulfil, but provides necessary compensation as well.
There is more than meets the eye when it comes to being a Senior Sourcing Specialist. For example, did you know that they make an average of $38.42 an hour? That's $79,905 a year!
Between 2018 and 2028, the career is expected to grow -6% and produce -29,200 job opportunities across the U.S.
There are certain skills that many Senior Sourcing Specialists have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Analytical skills, Math skills and Negotiating skills.
If you're interested in becoming a Senior Sourcing Specialist, one of the first things to consider is how much education you need. We've determined that 71.4% of Senior Sourcing Specialists have a bachelor's degree. In terms of higher education levels, we found that 15.0% of Senior Sourcing Specialists have master's degrees. Even though most Senior Sourcing Specialists have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Senior Sourcing Specialist. When we researched the most common majors for a Senior Sourcing Specialist, we found that they most commonly earn Bachelor's Degree degrees or Master's Degree degrees. Other degrees that we often see on Senior Sourcing Specialist resumes include Associate Degree degrees or Diploma degrees.
You may find that experience in other jobs will help you become a Senior Sourcing Specialist. In fact, many Senior Sourcing Specialist jobs require experience in a role such as Recruiter. Meanwhile, many Senior Sourcing Specialists also have previous career experience in roles such as Purchasing Manager or Senior Buyer.