Principal Strategic Sourcing Specialist at Medtronic

Hyderabad, Telangana, India

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Healthcare, Medical DevicesIndustries

Requirements

Mastery of a specialty area and full knowledge of industry practices, typically obtained through advanced education combined with experience
Broad knowledge of project management
Baccalaureate degree (or equivalent for degrees earned outside the United States per 8 C.F.R. § 214.2(h)(4)(iii)(A)) and minimum 7 years of relevant experience, or advanced degree with a minimum of 5 years of relevant experience

Responsibilities

Provides project management and sourcing expertise to cross-functional, cross-divisional commodity teams
Facilitates teams in the development and execution of long-term strategies optimizing quality, cycle/response time, technology, risk, and total cost
Mitigates risk, leverages technology and purchase power, improves processes and systems, and reduces overall cost of ownership and acquisition
Negotiates, establishes, and monitors supplier agreements
Manages the full procurement lifecycle for specified contingent labor categories
Acts as the primary point of contact for staffing suppliers, ensuring adherence to SLAs, market rates, onboarding timelines, and compliance requirements
Provides consultancy to Medtronic managers on staffing strategy, day-to-day supplier management, and issue resolution
Reviews and qualifies new requisitions prior to release/posting to staffing suppliers
Provides support and training to Hiring Managers through the entire Procure to Pay process related to Contingent Workers
Facilitates assignment changes (including extensions, transfers, backfills, etc.)
Liaises between managers and suppliers for coaching, ER issues, performance issues, furloughs
Manages On/Off Boarding process (terminations)
Resolves operational issues related to worker engagement, timesheets, invoicing, and offboarding
Leads Q&A sessions between suppliers and Hiring Managers on requisitions
Manages tenure exception/negotiation process and advises on conversion strategy
Supports audits, reporting, and data analysis related to contingent labor utilization, spend, and supplier diversity
Negotiates rates with Suppliers to obtain fair market price for each position via a competitively bid program model
Develops proactive Supplier and Stakeholder relationships
Delivers comprehensive reporting (Standard & Ad-Hoc) to customers as requested or works with Program Reporting Analyst to submit requests and establish prioritization
Conducts ongoing user training for Medtronic users and suppliers
Manages Pre ID Management
Manages rate negotiations against internal job leveling guides and rates
Ensures compliance to 60-day break policy for prior workers or returning employees
Manages Independent Contractor processes, including initial vetting, consulting for requests, SOW configuration, updates, and billing approvals
Presents, aligns, and implements business strategy changes, benchmarking with other companies where possible
Monitors Supplier performance using scorecards and conducts regular business reviews to drive continuous improvement
Partners with TA on conversion terms and timelines

Skills

Key technologies and capabilities for this role

Strategic SourcingProject ManagementSupplier ManagementProcurement LifecycleContract NegotiationSLA ManagementProcure to PayContingent Labor ManagementData AnalysisRisk MitigationOnboardingOffboardingStakeholder LiaisonAudit SupportReporting

Questions & Answers

Common questions about this position

Is this a full-time position?

Yes, this is a full-time employment opportunity at Medtronic.

What is the work arrangement or location policy for this role?

This information is not specified in the job description.

What key skills are required for the Principal Strategic Sourcing Specialist role?

Key skills include project management, sourcing expertise, supplier negotiation, procurement lifecycle management, and data analysis for contingent labor.

What is the company culture like at Medtronic?

Medtronic emphasizes a culture of exploration, innovation, leading with purpose, and championing healthcare access and equity in a connected, compassionate world.

What makes a strong candidate for this position?

Strong candidates will have experience in strategic sourcing, supplier management, procurement processes, risk mitigation, and cross-functional team facilitation, particularly in contingent labor and negotiations.

Medtronic

Develops and manufactures medical devices and therapies

About Medtronic

Medtronic provides medical technology, services, and solutions to improve patient care. The company develops a variety of medical devices, including pacemakers, insulin pumps, surgical tools, and neurostimulation devices, which help diagnose, prevent, and treat chronic diseases. These products are used by hospitals, clinics, and healthcare professionals around the world. Medtronic stands out from competitors by investing significantly in research and development to create new products and offering additional services like training and patient management programs. The goal of Medtronic is to enhance patient outcomes and lower healthcare costs through its comprehensive range of medical solutions.

Fridley, MinnesotaHeadquarters

1949Year Founded

$3.2MTotal Funding

IPOCompany Stage

Biotechnology, HealthcareIndustries

10,001+Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Health Savings Account/Flexible Spending Account

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Paid Holidays

401(k) Retirement Plan

401(k) Company Match

Employee Stock Purchase Plan

Employee Assistance Program

Wellness Program

Risks

Emerging competitors like Fire1 threaten Medtronic's heart failure management market share.

Spine biologics market growth may attract new entrants, increasing competition for Medtronic.

Recent IPOs in medtech indicate rising competition, challenging Medtronic's market position.

Differentiation

Medtronic's diverse product range spans cardiovascular, diabetes, neurological, and surgical technologies.

The company invests heavily in R&D to drive innovation in medical devices.

Medtronic offers comprehensive services, including training and technical support, enhancing product value.

Upsides

Exclusive deal with Kuros enhances Medtronic's orthopedic portfolio and market share.

Growing spine biologics market offers expansion opportunities in spinal fusion and regenerative medicine.

Balloon catheters market growth aligns with Medtronic's recent product launches, boosting cardiovascular presence.

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