The Sourcing Manager is responsible for leading and developing strategic procurement sourcing activities, including negotiations, contract, and project management, spend analysis, sourcing, and continuous improvement initiatives through total cost of ownership. Responsibilities Lead the development; implementation and alignment of sourcing strategies and supplier network capabilities for spend categories to achieve business objectives. Responsible for securing materials at the lowest total cost of ownership (TCO) through competitive analysis of bids, and all other costs of ownership. Responsible for establishing commodity supply and price risk mitigation strategies to minimize any concerns with materials, delivery, or supplier relationships. Demonstrate full knowledge and serve as a leader for assigned categories of spend. Collaborate with Director, Procurement Strategic Sourcing, and other cross functional team members to establish both short and long-term commodity strategies. Responsible for effectively negotiating with suppliers and coaching others to do the same. Govern the development and execution of contracts and agreements with suppliers. Contractually securing materials and/or services within spending authority guidelines. Responsible for setting and delivering budgeted plans for all direct and indirect items identified within the scope of the role, and report monthly on performance. Timely communication to key personnel of any major shifts in marketplace activity that may positively or negatively impact the organization. Select, maintain, and manage a supplier base that is financially sound, technically competent, and strategically aligned, including supplier performance standards and measurements. Evaluate supplier capabilities and establish sources for new technologies and new markets dictated by business requirements. Compile and maintain commodity and industry strategies. Responsible for compliance with applicable corporate policies and procedures and Code of Conduct. Develop annual cost savings programs and implement strategies that directly effects company financial results. Create, advocate, lead and implement sourcing and negotiation strategies for key spend areas to achieve short- and long-term savings targets. Manages areas of responsibility while driving continuous improvement and develop and implement protocols and practices to ensure effectiveness and efficiencies of strategic initiatives. Analyze industry trends and evolving technology to proactively identify supply base issues to mitigate issues to minimize risk, protect continuity of supply, and exploit emerging opportunities that benefit Wells. #J-18808-Ljbffr