Mount Sinai Careers
IT Finance - Supply Chain
***THIS IS FOR FUTURE OPPORTUNITIES ***
Responsible for Strategic Sourcing which is the practice of supplier selection based on the intersection of cost, quality and outcomes (CQO). CQO extends from conception of need through to disposition and emphasizes on selection not on a first-cost basis, but on costs of the whole experience of the product/service and the impact to departments and patients within the organization.
It calls for establishment of close client relationships to ensure needs, test policies driving demand, and establish open specifications and the understanding of the intersection of cost, quality and outcomes and the importance of such in the operational framework of healthcare. This is done through a Value analysis process. The sourcing leader will prepare all analysis and pertinent information for the Chair of the respective Value Analysis Team and will assist the chair in facilitating the meetings. While savings are the most commonly understood measure of its work, Strategic Sourcing adds significant value to clarity of specifications of need, integrity of the supplier selection process, open evaluations of purchasing alternatives viewed through the CQO evaluation methodology, contract documentation, ease of supplier implementations, supplier performance measurement and reporting, and confidence the organization benefits from decisions made on a CQO basis.
Roles & Responsibilities:
- Demonstrates knowledge of the organization’s Service and Financial Standards and incorporates them into the performance of duties.
- Relationship Management – Effectively communicate with all stakeholders; Building relationships with clinical and nonclinical customers throughout the hospital management structure in order to ensure Sourcing involvement in appropriate aspects of needs throughout hospital operations.
- Assess Needs and Initiate Sourcing Projects - Initiates new projects based on high spend profile, potential for savings, upcoming contract expirations, supplier impacts and capital projects. Assist internal clients to specify needs and define supplier performance expectations. Analyze and validate policies and practices driving demand.
- Defines sourcing strategies that optimize value in light of client needs, market conditions, and healthcare industry statistics.
- Assess most beneficial means to access markets and drive the supplier behavior accordingly.
- Market Evaluations - Gathers and interprets market and competitive intelligence through formal and informal processes. Advocates competitive decision-making in the most efficient, least resource-intense process. Evaluates supplier capabilities to meet our needs through fair and thorough techniques. Looks forward to products within the FDA premarket approval processes to understand and prepare for emerging technology.
- Supplier Selection- Establishes business cases supporting sourcing recommendations based on input from various sources.
- Project Management - Possesses the ability to lead projects using the full complement of resources available within the hospital.
- Must be able to interact with all areas of the project team and direct them to project completion. Applies project management skills that achieve project timing, and service and savings objectives.
- Analytical Skills - Must possess the skills to interpret and analyze data both financially and clinically in order to present and interpret outcomes. Must be able to explain and convey data to all end users.
- Implementation and Supplier Relationship Management - Partners with internal clients to implement efficient ordering routines that include appropriate controls within healthcare operations. Assists departments to implement sourcing changes, especially if moving to a new supplier and for more significant spends and services.
- Authors policies that drive demand and introduce and enforce appropriate behaviors in relation to suppliers.
- Contract Background - Must be able to negotiate contracts, terms and conditions, and ramifications of contractual verbiage as it relates to the product, service, supplier in question and those ramifications within the hospital. Develop contracts supporting our business requirements, including clearly defined service expectations/goods specifications, performance measurement practices and shortfall remedies.
- Works with Implementations Manager, Finance and departments to quantify the budget impacts of implementing new contracts (i.e., savings). With IT, establish automated processes to enable efficient supplier interfaces in a controlled, integrated and cost-effective manner. With internal clients, periodically review supplier effectiveness; remain abreast of evolving internal client needs and keep clients aware of evolving market capabilities.
- Becoming a Business Advisor - Creating valued business partnerships with internal customers; proactively identifying cost savings opportunities for the customer; conveying a firm understanding of the customer’s business and political drivers.
- Master’s Business Administration or Master’s in Science or Healthcare related field or Other Advanced Degree such as JD, RN, NP
- Certified Materials Resource Professional (CMRP) or other recognized certification. Equivalents accepted upon review
- MS Office Suite (Advanced)
- Must demonstrate leadership of sourcing initiatives of a highly complex nature to accomplish implementations on both a departmental and cross-enterprise basis.
- Must be able to understand the following: healthcare operations, FDA premarket approval and 510K clearance process, healthcare statistics, population health, the intersection of cost, quality and outcomes and the importance of such in the operational framework of healthcare.
- Previous experience interacting with stakeholders in assigned category (e.g., for clinical areas, previous experience interacting with physicians)
- Previous experience with products relevant to assigned category
- Previous experience interacting with Sr. Leadership
- Previous experience negotiating with vendors
- Previous experience managing large processes/projects
- Previous experience leading a cross-functional project team or a project that involves stakeholders from multiple areas
- Previous experience planning for and facilitating team/committee meetings
- Previous experience working independently and as part of a team
- Previous experience working with tight deadlines
- Knowledge of subject area/category
- Knowledge of the healthcare industry
- Detailed knowledge of contracting terms/conditions and the contracting process