Sourcing Manager (Contract Negotiator)
Edward Jones
Overview:The Sourcing Manager is responsible for negotiating supplier contracts on behalf of business units, with a primary focus on medium-to-high value and moderately complex sourcing initiatives. Negotiations include contract terms (e.g., Indemnification, Limitation on Liability, Confidentiality provisions) and pricing. This role partners with business units to understand strategic goals and supports projects requiring supplier relationships. The Sourcing Manager must possess strong analytical and systems-thinking capabilities to identify, communicate, and implement supply-base opportunities that achieve cost savings, cost avoidance, and risk mitigation strategies. This role requires building relationships within cross-functional teams, effective communication, and strategic planning to influence leadership and drive sourcing initiatives forward.
What you'll do:
In this role, the Sourcing Manager must:
- Contribute to the department goal of $100M in Savings/Cost Avoidance.
- Lead multiple, concurrent sourcing initiatives including strategy, supplier selection, market intelligence, and contract execution.
- Lead the negotiation of complex commercial and contractual terms with executives and legal representatives.
- Direct Senior Leaders towards the best purchasing decision by balancing solution cost with business requirements.
- Support the talent development of the Sourcing team by mentoring Buyers and Sourcing Specialists while sharing knowledge, experience, and leading practices across Divisions
- Execute on defined objectives aligned to Sourcing Strategies through the development and distribution of RFx's (RFI, RFQ, RFP), vendor communication, development of vendor selection criteria, and collaboration with cross-functional teams including business owners and legal.
- Maintain accurate records and data within the contract management system and other related sourcing tools
- Use procurement tools and systems to create operational efficiency and visibility across the enterprise
- Identify and pursue ad hoc opportunities to reduce product/service costs and support the implementation of operational improvement initiatives
- Assess pricing using analytics and benchmarking to ensure competitive outcomes.
- Develop strong relationships with business partners to ensure early visibility into upcoming sourcing needs.
- Champion process improvements and provide feedback on impact.