Supply Chain Sourcing Analyst

Career Area: Business Management and Operations

Occupation Group: Logistics and Supply Chain Analysts/Specialists

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Supply Chain Sourcing Analyst earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $64,470

National

The average salary in the United States for those pursuing this career is $72,013

What Does a Professional in this Career Do?

Provides analytical support to procurement by analyzing material, labor costs, and rates applied in a company's supply chain. Uses statistical models to predict procurement needs and identify areas for improvement.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Supply Chain Sourcing Analyst is expected to have in order to experience success in this field:

• Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
• Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
• Communication Skills: The ability to convey information to another effectively and efficiently.
• Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.
• Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.

Specialized Skills

These skills are specific to working in this career:

• Supply Chain Knowledge: A supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier to customer.
• Procurement: Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process.
• Purchasing: Purchasing refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise.
• Supply Chain Management: In commerce, supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.
• Logistics: Logistics is generally the detailed organization and implementation of a complex operation.

Distinguishing Skills

Any Supply Chain Sourcing Analyst that possesses the following skills will stand out against the competition:

• Purchase-to-Pay: Purchase-to-pay, often abbreviated to P2P and also called req to cheque, refers to the business processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services.
• Procure-To-Pay: Procure-to-pay is a term used in the software industry to designate a specific subdivision of the procurement process.
• Supplier Management: The termsupply managementdescribes the methods and processes of modern corporate or institutionalbuying. This may be for the purchasing of supplies for internal use referred to as indirect goods and services, purchasing raw materials for the consumption during themanufacturingprocess, or for the purchasing of goods forinventoryto be resold asproductsin thedistributionandretailprocess.
• Logistics Strategies: Logistics strategy is the set of guiding principles, driving forces and ingrained attitudes that help to coordinate goals, plans and policies between partners across a given supply chain.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

• Procurement Strategies: Working experience developing strategies for the process of finding, acquiring, buying goods, services or works from external sources.
• Procurement Planning: Procurement planning is the process of deciding what to buy, when and from what source.
• Global Sourcing Management: Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries.
• SAP Ariba: Working experience of SAP Ariba, which is an online solution catered to delivering a cloud-based procurement platform for the needs of both buyers and suppliers.
• Procure-To-Pay: Procure-to-pay is a term used in the software industry to designate a specific subdivision of the procurement process.

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

• Supply Chain Sourcing Analyst
• Logistics Sourcing Analyst
• Sourcing Supply Chain Analyst
• Supply Chain/Sourcing Analyst
• Senior Sourcing Manger

Similar Occupations

If you are interested in exploring similar occupations, you may want to research the following job titles:

• Supply Chain Analyst
• Supply Chain Planning Analyst
• Logistics Management Specialist
• Logistics Analyst
• Procurement / Sourcing Manager