VP, Procurement

Company: Precision Medicine Group
Location: Bethesda
Posted on: May 7, 2025

Job Description:

VP, Procurement
at Precision Medicine Group (View all jobs)
Bethesda, MD, USA

The Vice President of Procurement will oversee the establishment and development of a world-class corporate procurement department focused on strategic sourcing to support all Precision for Medicine business units.

This position will be responsible for leading the strategy, design and execution of a world-class strategic sourcing while leading a team. This leader must have the interest and ability to work cross functionally with stakeholders across the entire enterprise to ensure that business objectives and strategies are achieved.

Essential duties include but are not limited to:

• Establish a sourcing strategy by consulting with leaders, understanding external market trends, monitoring business conditions and priorities, being attentive to business objectives and continually validating, evolving, and adjusting the suitability of the functions' strategic objectives to ensure alignment.
• Partner with leaders across the entire enterprise to ensure the function provides efficient and effective category strategies, preferred suppliers, initiative requirements, competitive supplier evaluation, contract negotiation and strategic supplier management services that support the on-going needs of the business.
• Lead and project manage multi-functional stakeholder teams on specific strategic sourcing initiatives or projects, including RFX's, to ensure benefit realization and drive value through supplier relationship management within the assigned categories.
  Conduct regular contract review meetings with suppliers and key stake holders to ensure supplier performance is meeting expectations, contractual commitments, and service levels and that any concerns are communicated in a timely manner ensuring the avoidance of service disruption and stakeholder dissatisfaction.
• Provide advice on all procurement related issues and discuss detailed contractual issues on a wide and varied portfolio with stakeholders to ensure that (i) contractual terms and obligations are fully understood, (ii) both financial, operational, and supply risks are minimized, and (iii) stakeholders fully understand and remain in compliance with finance, legal and procurement procedures.
• Cultivate a strong team environment and a strong service culture that ensures delivery of timely and quality services to all customers and meets service level agreements.
• Own and manage the end-to-end process for the Source to Contract process, including compliance and regulatory reporting.
• Develop, monitor, and analyze key procurement metrics and spend analytics.
• Conduct market research and analysis to identify potential suppliers and negotiate favorable terms and pricing.
• Ensure compliance with company policies, industry regulations, and ethical procurement practices.
• Establish a robust supplier evaluation framework to assess the performance and capabilities of existing suppliers regularly.
• Identify opportunities for supplier development and work closely with suppliers to improve their offerings and service levels.
• Deliver on savings and value targets across multiple dimensions including material deflation, P&L, Budget Optimization, Cost Avoidance and Working Capital as well as supplier development and performance, including quality and lead time reliability.
• Integrate a global perspective into all sourcing activities to maximize leverage and overall effectiveness of supply.
  Qualifications:
  
  The ideal candidate will have an energetic and engaging personality with executive presence (gravitas). She/he must be self-motivated and solutions oriented, possessing "high EQ" as well as strong intellect - a quick thinker and fast learner. Without question, the successful candidate must possess the highest level of integrity, loyalty to the team and trustworthiness.
  
  Minimum Required:
  
  • Bachelor's degree in Business Administration, Supply Chain Management
  • 13+ years of experience in a strategic sourcing role or related position within the Pharma Services industry
  • 10+ years of experience directly managing others
  • Experience working in a matrixed business environment, leading multiple commitments and collaborators while prioritizing conflicting demands, maintaining focus on the objective, and providing high quality service to both internal and external partners
  • Specific experience in leading large, complex sourcing projects and supporting Senior Leadership on development of the sourcing strategy, management of risks and issues and the execution of the project to deliver the greatest value for money for the organization
  • Developing and executing clear category management, strategic sourcing, procurement, and cost reduction strategies
  • A deep knowledge of sourcing processes, market trends, benchmarks, and best practices across categories under management
  • In-depth knowledge of category strategy, management and sourcing, methodologies, and best practices
  • Proven analytical skills, and demonstrated ability to solve complex problems to drive value
  • Microsoft Office365 (Word, Excel, PowerPoint, Outlook, Teams, SharePoint)
    Other Preferred:
    
    • Deep business and financial acumen and strong strategic and conceptual skills
    • Demonstrated ability to lead and inspire effective teamwork globally while motivating staff in a matrix organization
    • Demonstrated excellent written and verbal communication skills
    • Demonstrated organizational, time management, and multi-tasking skills
    • Working knowledge of data analysis and forecasting tools and ability to develop actionable insights from data
    • Interpersonal skills and ability to build, develop and maintain trusted relationships both internally and externally
    • Attention to detail and analysis accuracy
    • Ability to make decisions and commit to completion dates
    • Ability to troubleshoot issues of high complexity
      
      Precision is required by law in some states or cities to include a reasonable estimate of the compensation range for this role. This compensation range takes into account the wide range of factors that are considered in making compensation decisions including but not limited to: skill sets, experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. At Precision, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. This role is also eligible for a discretionary annual bonus, health insurance, retirement savings benefits, life insurance and disability benefits, parental leave, and paid time off for sick leave and vacation, among other benefits.
      
      Reasonable estimate of the current range
      
      $220,000 - $250,000 USD
      
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      Precision Medicine Group is an Equal Opportunity Employer. Employment decisions are made without regard to race, color, age, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other characteristics protected by law.
      
      If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process or are limited in the ability or unable to access or use this online application process and need an alternative method for applying, you may contact Precision Medicine Group at QuestionForHR@precisionmedicinegrp.com .
      
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Keywords: Precision Medicine Group, Sterling , VP, Procurement, Executive , Bethesda, Virginia