Vice President of Procurement

Formulated Solutions is seeking an accomplished Vice President of Procurement to provide enterprise-wide leadership for strategic sourcing and procurement across our multi-site Contract Development and Manufacturing Organization (CDMO).

Reporting to the Chief Supply Chain Officer and serving as a member of the Executive Leadership Team, this position will develop and execute procurement strategies that ensure reliable supply, improve cost competitiveness, optimize working capital, and support profitable business growth.

The Vice President will oversee direct materials, packaging components, indirect goods and services, and capital expenditures while balancing cost, quality, service, regulatory compliance, customer commitments, cash requirements, and continuity of supply. This hands-on executive will lead Category Managers and site procurement teams while establishing consistent procurement practices across the organization.

MAJOR DUTIES AND RESPONSIBILITIES

PROCUREMENT STRATEGY AND LEADERSHIP

• Develop and execute an enterprise-wide procurement strategy aligned with business objectives, customer commitments, operating plans, and financial requirements.
• Lead strategic sourcing and category management for direct materials, packaging components, indirect goods and services, and capital expenditures across the company’s multi-site network.
• Establish procurement priorities, policies, processes, governance, controls, and performance standards across all locations.
• Build, develop, and lead a high-performing procurement organization while remaining actively involved in critical sourcing, negotiation, supplier, and operational matters.
• Develop category strategies using spend analytics, market intelligence, demand forecasts, supplier capabilities, cost drivers, and industry trends.

CASH, WORKING CAPITAL, AND VALUE CREATION

• Partner with the Chief Supply Chain Officer and Finance to develop procurement strategies that support cash-flow and working-capital objectives.
• Optimize supplier payment terms, lead times, order quantities, safety-stock levels, consignment arrangements, vendor-managed inventory, and inventory-ownership models.
• Balance liquidity requirements with supplier sustainability, contractual obligations, customer commitments, continuity of supply, and long-term commercial relationships.
• Negotiate extended payment terms and other working-capital improvements without creating unacceptable supply, quality, legal, regulatory, or reputational risk.
• Partner with Supply Chain, Operations, Commercial, Quality, and Finance to reduce excess, obsolete, slow-moving, and at-risk inventory.
• Lead competitive sourcing, supplier selection, negotiations, contracting, and commercial management for direct, indirect, and capital purchases.
• Identify and deliver measurable cost savings, cost avoidance, productivity improvements, and working-capital benefits.
• Partner with Finance to ensure procurement savings are forecasted, validated, tracked, and reflected in the P&L and cash flow.
• Develop strategies to manage inflation, tariffs, duties, freight costs, commodity volatility, foreign-exchange exposure, and other market risks.
• Lead negotiations for high-value, high-risk, and business-critical supplier agreements.

SUPPLIER MANAGEMENT AND SUPPLY ASSURANCE

• Establish a supplier relationship and performance-management program covering quality, cost, delivery, service, innovation, compliance, financial health, and responsiveness.
• Identify critical suppliers and materials and implement appropriate risk-mitigation, contingency, dual-sourcing, safety-stock, and business-continuity strategies.
• Monitor supplier capacity, financial stability, geopolitical exposure, regulatory status, and operational performance.
• Partner with Quality to ensure suppliers meet specifications, quality agreements, change-control requirements, audit expectations, and regulatory standards.
• Lead the commercial resolution of supplier quality, delivery, capacity, pricing, and contractual issues.
• Develop strategic supplier relationships that provide competitive pricing, improved terms, innovation, capacity, and supply priority.
• Ensure procurement decisions do not compromise product quality, consumer safety, regulatory compliance, customer requirements, or continuity of supply.

NEW PRODUCT INTRODUCTION AND COMMERCIAL SUPPORT

• Partner with Business Development, Commercial, R&D, Quality, Engineering, Operations, and Supply Chain to support new-product development, customer quoting, technical transfers, commercialization, and product launches.
• Ensure supplier identification, material availability, pricing, lead times, capacity, tooling, quality requirements, and commercial terms are addressed early in the new-product introduction process.
• Provide timely, accurate, and competitive material and service cost estimates for customer quotations and business-development opportunities.
• Engage suppliers to identify new materials, packaging solutions, technologies, and cost-saving innovations.
• Ensure procurement commitments associated with customer proposals are commercially sound, operationally achievable, and aligned with company financial objectives.

PROCUREMENT OPERATIONS, SYSTEMS, AND COMPLIANCE

• Lead the continuous improvement and digital transformation of the procurement function.
• Establish accurate procurement data, spend visibility, supplier master-data controls, approval workflows, and purchasing compliance.
• Improve purchase-order accuracy, contract utilization, invoice matching, exception management, and supplier payment processes in partnership with Finance and Accounts Payable.
• Develop dashboards and key performance indicators covering savings, working capital, supplier performance, purchase-price variance, contract compliance, inventory, sourcing progress, and supply risk.
• Ensure procurement activities comply with applicable laws, regulations, company policies, delegated authority, ethical standards, and contractual requirements.
• Oversee applicable international trade compliance, including import and export requirements, tariffs, customs classifications, country-of-origin documentation, and restricted-party controls.
• Maintain procurement documentation and audit readiness in support of regulatory, customer, financial, and internal audits.

PEOPLE AND ORGANIZATIONAL LEADERSHIP

• Recruit, develop, coach, and retain a capable procurement organization with strong strategic, analytical, technical, negotiation, and relationship-management skills.
• Establish clear roles, goals, accountability, performance measures, and professional-development plans.
• Create a collaborative operating model that balances enterprise category leadership with site-level responsiveness and execution.
• Lead change-management efforts to standardize processes, improve purchasing discipline, and strengthen procurement’s strategic contribution.
• Model Formulated Solutions’ values of People First, Quality Obsessed, Customer Focused, Innovation Driven, and Ownership Mindset.

REQUIRED QUALIFICATIONS AND EXPERIENCE

• Bachelor’s degree in Supply Chain Management, Procurement, Business Administration, Finance, Engineering, Operations Management, or a related field.
• Minimum of 12 years of progressively responsible experience in procurement, strategic sourcing, supply chain, category management, or a related discipline.
• Minimum of seven years of procurement leadership experience, including responsibility for Category Managers, procurement professionals, or site-based purchasing teams.
• Procurement experience within a regulated manufacturing environment.
• Demonstrated experience sourcing direct materials, packaging components, indirect goods and services, and capital equipment.
• Proven success delivering measurable cost savings, working-capital improvements, supplier-performance improvements, and supply-risk reductions.
• Experience leading complex negotiations and managing significant supplier contracts and commercial relationships.
• Experience supporting multiple manufacturing sites within a cross-functional, matrixed organization.
• Working knowledge of cGMP requirements, supplier qualification, change control, quality agreements, and regulated supply-chain practices.
• Experience supporting new-product introductions, technical transfers, customer quotations, commercialization, and product launches.
• Experience using ERP, e-procurement, spend-analytics, contract-management, and supplier-performance systems.
• Strong financial acumen, including knowledge of P&L impact, cash flow, working capital, inventory, purchase-price variance, and total cost of ownership.
• Executive-level communication, negotiation, analytical, change-management, and relationship-building skills.

PREFERRED QUALIFICATIONS

• Procurement leadership experience within a CDMO or contract manufacturing organization.
• Experience supporting OTC, prescription pharmaceutical, beauty, personal-care, or consumer-healthcare products.
• Experience with international sourcing, global supplier networks, tariffs, customs requirements, and import and export compliance.
• Experience leading procurement transformation, ERP implementation, or process-standardization initiatives.
• Experience within a private-equity-sponsored, turnaround, or high-growth organization.
• MBA or another relevant advanced degree.
• CPSM, CPM, CSCP, Lean, Six Sigma, or an equivalent professional certification.

ADDITIONAL REQUIREMENTS

• Ability to travel between company locations and supplier sites as business needs require.
• Ability to manage competing priorities and make timely, well-reasoned decisions in a fast-paced manufacturing environment.
• Ability to maintain confidentiality when handling supplier, customer, financial, and contractual information.