Sourcing Analyst

Sourcing Analyst

The Sourcing Analyst supports the strategic sourcing and procurement function by providing data-driven insights, managing purchasing systems, maintaining procurement data integrity, and delivering market intelligence that enables informed business decisions.

This position is responsible for spend analysis, supplier and market research, procurement KPI reporting, system administration, and data management. The Sourcing Analyst partners with Procurement, Finance, Operations, Supply Chain, IT, and other cross-functional teams to identify cost-saving opportunities, improve supplier performance, strengthen purchasing processes, and maximize the effectiveness of procurement systems.

The ideal candidate combines strong analytical and problem-solving skills with exceptional attention to detail, data accuracy, and the ability to translate complex information into actionable business recommendations.

Key Responsibilities

Responsibility - % of Time

Analyze organizational spend and develop sourcing insights and recommendations. - 25%

Develop and maintain procurement KPIs, dashboards, and reporting. - 20%

Conduct supplier, commodity, and market research. - 15%

Maintain purchasing systems, supplier information, catalogs, and procurement workflows. - 15%

Maintain procurement master data integrity and perform data audits. - 10%

Support strategic sourcing projects and supplier performance reviews. - 10%

Identify and implement continuous improvements in procurement processes and reporting. - 5%

Spend Analysis

• Analyze organizational spend across suppliers, categories, locations, and business units.
• Identify cost-saving opportunities, sourcing strategies, and opportunities for supplier consolidation.
• Develop recurring and ad hoc spend reports to support procurement planning and executive decision-making.
• Monitor purchasing trends and identify opportunities to improve contract compliance and purchasing processes.
• Validate procurement data to ensure accurate spend visibility and reporting.
• Analyze purchasing activity against budgets, contracts, and established sourcing strategies.

KPI Reporting & Analytics

• Develop, maintain, and distribute procurement dashboards and key performance indicator (KPI) reports.
• Track metrics including cost savings, supplier performance, contract compliance, purchase price variance, spend under management, sourcing effectiveness, and supplier quality and delivery performance.
• Present findings and recommendations to Procurement leadership and cross-functional stakeholders.
• Develop recurring reports for management and executive leadership.
• Identify trends, risks, and opportunities through data analysis.
• Continuously improve reporting processes through automation and data visualization.

Market & Supplier Research

• Conduct market research and benchmarking to support sourcing initiatives and supplier negotiations.
• Monitor industry trends, commodity pricing, supplier capabilities, and market risks.
• Research potential suppliers and evaluate capabilities, capacity, geographic footprint, and overall fit.
• Support supplier identification and qualification activities.
• Identify opportunities for innovation, cost reduction, and value creation.
• Support category strategies through market intelligence and competitive analysis.

Purchasing Systems Management

• Maintain and administer purchasing and procurement systems to support efficient operations.
• Maintain supplier records, catalogs, pricing information, and purchasing workflows.
• Support system enhancements, testing, implementation, and troubleshooting.
• Assist with user training and system adoption.
• Partner with IT and business stakeholders to optimize procurement technology and system functionality.
• Identify opportunities to automate manual procurement processes.
• Ensure purchasing systems support established procurement policies and procedures.

Data Integrity & Master Data Management

• Ensure accuracy, consistency, and completeness of procurement master data.
• Perform regular audits of supplier information, item master data, pricing, purchasing information, contracts, and catalogs.
• Identify and resolve data quality issues.
• Establish preventative controls to minimize recurring data errors.
• Maintain accurate supplier and purchasing records.
• Partner with Finance, IT, and Procurement to resolve data discrepancies.

Additional Responsibilities

• Support strategic sourcing projects through data analysis and reporting.
• Assist with supplier performance reviews and business reviews.
• Prepare presentations and analytical reports for Procurement leadership.
• Support supplier negotiations through market and spend analysis.
• Assist with RFQ/RFP processes and supplier comparisons.
• Provide analytical support for annual procurement planning and budgeting.
• Support contract compliance and supplier management initiatives.
• Recommend continuous improvements to procurement processes, reporting, and system utilization.
• Perform other duties as assigned.

Cross-Functional Collaboration

The Sourcing Analyst works closely with Procurement / Strategic Sourcing, Supply Chain, Finance & Accounting, Operations, Manufacturing, Engineering, Quality, Logistics, IT, Legal, and suppliers and external partners.

Key Performance Indicators (KPI)

The Sourcing Analyst is accountable for:

Analytics & Reporting

• KPI reporting accuracy
• Reporting timeliness
• Dashboard utilization
• Spend visibility
• Data analysis turnaround time

Procurement

• Identified cost-saving opportunities
• Cost savings supported
• Supplier consolidation opportunities
• Contract compliance
• Purchase price variance

Data Integrity

• Supplier master data accuracy
• Item master data accuracy
• Pricing data accuracy
• Data audit completion
• Data error resolution time

Process Improvement

• Procurement process improvements
• Reporting automation
• System utilization
• Manual process reduction

Decision Making Authority

Authorized to Independently:

• Develop routine procurement reports and dashboards.
• Conduct spend and market analysis.
• Perform procurement data audits.
• Identify data discrepancies and initiate corrections.
• Conduct supplier and market research.
• Recommend process improvements.
• Maintain approved procurement system information.
• Provide analytical recommendations to Procurement leadership.
• Support supplier evaluations using established criteria.

Requires Sourcing Manager or Procurement Leadership Approval:

• Supplier selection or removal.
• Supplier contract awards.
• Pricing or commercial commitments.
• Changes to procurement policies.
• Significant system configuration changes.
• Supplier master data changes affecting financial transactions.
• Procurement process changes with significant financial impact.
• Strategic sourcing decisions.

Required Qualifications (Include Education, Experience, Certifications)

Experience

• 2–5 years of experience in procurement, sourcing, supply chain, purchasing, business analytics, or a related field.
• Experience working with ERP or procurement systems such as SAP, Oracle, Coupa, Ariba, Microsoft Dynamics, or similar.
• Experience with spend analytics, reporting, and procurement data management preferred.
• Manufacturing or industrial procurement experience preferred.

Preferred Qualifications

• Advanced Microsoft Excel skills.
• Experience with Power BI, Tableau, or similar reporting and visualization tools.
• Experience developing procurement dashboards.
• Experience with data visualization and business intelligence tools.
• Knowledge of supplier performance management.
• Knowledge of strategic sourcing methodologies.
• Experience supporting RFQ/RFP processes.
• APICS, CPSM, or other supply chain/procurement certification preferred.

Education

• Bachelor's degree in Supply Chain Management, Procurement, Business Analytics, Finance, Business Administration, or a related field required.

Knowledge, Skills & Abilities (KSA’s)

Knowledge