In my previous role, I was tasked with identifying new suppliers for a critical component. I analyzed a dataset of over 500 potential suppliers, using Excel to filter and sort based on criteria such as cost, lead time, and quality ratings. By applying pivot tables and creating visual dashboards, I was able to pinpoint the top 10 suppliers that met our requirements, ultimately leading to a 15% reduction in procurement costs.

I regularly attend industry conferences, subscribe to trade publications, and participate in online forums to stay informed about market trends. Additionally, I conduct quarterly reviews of supplier performance metrics and engage in continuous communication with key suppliers to understand their capabilities and any potential changes in their operations.

In one instance, our primary supplier was facing production delays, which would impact our delivery schedule. I initiated a negotiation meeting, presenting data on our long-term partnership and the potential impact of delays on both sides. Through collaborative discussions, we agreed on a revised delivery timeline and secured a commitment for priority production, ensuring minimal disruption to our operations.

I prioritize sourcing projects based on their impact on the business, such as cost savings, risk mitigation, and strategic alignment with company goals. I use a scoring system to evaluate each project, considering factors like urgency, complexity, and potential ROI. This structured approach helps me allocate resources effectively and ensure that high-priority projects receive the necessary attention.

I evaluate supplier risk by conducting a comprehensive assessment that includes financial stability, operational efficiency, and compliance with industry standards. I use tools like SWOT analysis and risk matrices to identify potential vulnerabilities and develop mitigation strategies. Regular audits and continuous monitoring of supplier performance are also integral to this process, ensuring that any emerging risks are promptly addressed.