The term “strategic sourcing” refers to a process in which professionals examine how businesses spend money and devise cost-cutting and profit-boosting strategies. Professionals in this field frequently negotiate with suppliers and put in place new plans for purchasing and procurement departments to follow. You should plan on getting formal academic training in a business field such as finance, economics, management, or logistics to become a strategic sourcing manager. Because this is a high-level position that requires a strong understanding of management and finance principles, earning a master’s degree in business is usually a good idea.
This type of professional is common in fields that require specialized knowledge of equipment and materials. For example, a background in engineering may be required to work as a strategic sourcing manager in the manufacturing industry. While a degree in this field is not required, you should take some courses in a related field.
A person who wants to become a strategic sourcing manager should plan on gaining years of experience in the field in addition to earning academic degrees. Working in purchasing departments is a good place to start. Purchasers or buyers are frequently required to have a thorough understanding of the resources used in a specific industry, so you may benefit from taking entry-level positions in a field where you want to work as a strategic sourcing manager. If you’re interested in software development, for example, an entry-level buyer position in a related company might be a good fit.
Continuous professional development is also a good idea if you want to become a strategic sourcing manager. When reviewing job descriptions, you may notice that employers prefer candidates who have relevant professional certification. A CPM (Certified Purchasing Manager) certification, for example, can help you stand out from the crowd. To obtain this type of certification, you will typically need to complete a number of professional development courses as well as work as a purchasing manager for a period of time.
Joining professional organizations that are related to this field can be a great way to learn about job openings in this field. Many high-level positions, such as strategic sourcing manager, are obtained through professional networking. Send a cover letter and resume to an employer when you learn of an opening. These documents should emphasize your experience as a purchasing professional, your industry knowledge, and your negotiation and financial management abilities.