Principal Specialist - Strategic Sourcing

Job description

Are you looking for a unique opportunity to be a part of something great? Want to join a 17,000-member team that works on the technology that powers the world around us? Looking for an atmosphere of trust, empowerment, respect, diversity, and communication? How about an opportunity to own a piece of a multi-billion dollar (with a B!) global organization? We offer all that and more at Microchip Technology Inc. People come to work at Microchip because we help design the technology that runs the world. They stay because our culture supports their growth and stability. They are challenged and driven by an incredible array of products and solutions with unlimited career potential. Microchip’s nationally-recognized Leadership Passage Programs support career growth where we proudly enroll over a thousand people annually. We take pride in our commitment to employee development, values-based decision making, and strong sense of community, driven by our Vision, Mission, and 11 Guiding Values; we affectionately refer to it as the Aggregate System and it’s won us countless awards for diversity and workplace excellence. Our company is built by dedicated team players who love to challenge the status quo; we did not achieve record revenue and over 30 years of quarterly profitability without a great team dedicated to empowering innovation. People like you. Visit our careers page to see what exciting opportunities and company perks await! Job Description: Assist in developing and executing strategic sourcing plans for assigned categories, ensuring alignment with business objectives. Engage in end-to-end sourcing processes, including market analysis, RFP/RFQ management, supplier evaluation, negotiation, and contract negotiations. Build and maintain strong relationships with internal stakeholders to understand requirements and deliver sourcing solutions that meet business needs. Assist in identifying, evaluating, and onboarding new suppliers to drive innovation, cost savings, and risk mitigation. Analyze spend data and market trends to identify opportunities for cost reduction and process improvement. Monitor supplier performance, manage supplier relationships, and resolve issues to ensure compliance with contractual terms and service level agreements. Support sustainability and diversity initiatives within the supply base. Develop and implement sourcing strategies to optimize procurement processes. Conduct market analysis to identify potential suppliers and assess market trends. Negotiate contracts and pricing with suppliers to secure the best terms. Collaborate with other departments to understand their procurement needs. Monitor supplier performance and maintain strong vendor relationships. Evaluate and mitigate risks associated with the supply chain. Ensure compliance with company policies and regulatory requirements. Identify cost-saving opportunities and drive continuous improvement initiatives. Prepare and present sourcing reports to senior management. Lead cross-functional teams in strategic sourcing projects. Identify and vet new suppliers, especially for hard-to-source or specialized components Obtain quotes, negotiate pricing, and issue purchase orders in accordance with company policies and cost objectives. Build and maintain relationships with suppliers, addressing discrepancies or issues with orders, quality, delivery, and pricing Support production readiness by ensuring new parts are set-up for purchase and coordinate the transition from NPI to production procurement teams. Work with engineering and R&D teams on pre-production approvals and change control documentation for materials. Coordinate with engineering and product management for new product introductions and end of life product phase outs. Collaborate cross-functionally with internal teams (technology, engineering, product marketing, finance, operations and quality) to mitigate disruptions. Other duties as assigned. Requirements/Qualifications: Bachelor’s degree in Supply Chain Management, Business Administration, Engineering, or related field; Master’s degree or relevant certifications (e.g., CPSM, CIPS) preferred. Minimum 7-10 years of experience in procurement, or supply chain management, preferably in a complex, multinational environment. Strong negotiation, analytical, and project management skills. Excellent communication and stakeholder management abilities. Exceptional negotiation and communication abilities. Proven track record of cost savings and efficiency improvements. Understanding of global supply chain dynamics. Experience with contract law and regulatory compliance. Strong analytical skills and ability to analyze complex data. Excellent negotiation skills and ability to build strong supplier relationships. Knowledge of sourcing and procurement techniques as well as a dexterity in analyzing market trends. Strong ability to work under pressure and meet tight deadlines. Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint). Excellent written and verbal communication skills. Strong organizational and project management skills Familiarity with Microsoft Dynamics ERP Travel Time: 0% - 25% To all recruitment agencies: Microchip Technology Inc. does not accept unsolicited agency resumes. Please do not forward resumes to our recruiting team or other Microchip employees. Microchip is not responsible for any fees related to unsolicited resumes.