Procurement Portfolio Manager (Electronics Contract Manufacturing) at Penumbra Inc

Alameda, California, United States

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Not SpecifiedCompensation

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

Full TimeJob Type

UnknownVisa

Medical Devices, Electronics ManufacturingIndustries

Requirements

Experience leading development and implementation of sourcing strategies for cost efficiencies, supply assurance, risk mitigation, and quality
Ability to integrate procurement strategies, processes, and executions with internal business plans and company objectives
Experience collaborating with stakeholders to identify and manage key supply base for current and future product needs
Ability to direct Portfolio Leads and other Procurement team members and develop their abilities
Experience identifying and evaluating suppliers, developing strategic supplier relationships, negotiating terms and conditions, and driving improved supplier service levels
Experience with managing Electronics Manufacturing Services / Electronics Contract Manufacturing suppliers (preferred)
Knowledge of Quality Management System (QMS), domestic and global quality system regulations, standards, and procedures
Understanding of relevant security, privacy, and compliance principles and adherence to applicable regulations, standards, and procedures
Ability to manage one or more Procurement employees, including selecting, managing, training, and developing staff

Responsibilities

Identify business needs of the product portfolio and develop business-level partnerships
Collaborate with Operations Product/Portfolio Leadership to ensure business needs are met
Develop supplier strategies in alignment with business partner priorities/requirements and business growth objectives
Manage strategic sourcing activities for a Penumbra product portfolio to ensure supply continuity and deliver efficiencies in spending
Build, optimize, and measure annual savings plan goals
Establish, analyze, and report business analytics, KPIs, and customer satisfaction criteria for procurement
Establish and maintain a supplier landscape, manage contracting processes for MSAs and Supply Agreements, and ensure adherence to processes
Manage supplier engagements to improve performance, optimize costs, and contract appropriately for supply continuity
Execute and maintain key sourcing relationships providing year-over-year benefits to quality, response time, technology, risk, and total cost
Lead regular business reviews with suppliers and Penumbra stakeholders
Proactively identify and mitigate supply risks within the supported portfolio
Develop strategic roadmaps for assigned portfolio ensuring suppliers meet current and future business requirements
Establish supplier selection criteria, evaluate alternative suppliers, and drive final supplier selection in partnership with R&D, Operational Procurement, Mfg. Engineering, Quality, and other cross-functional partners
Understand benefits and costs of supply chain options and leverage knowledge to drive strategic discussions and decisions
Leverage knowledge of suppliers, supply base, and market conditions to recommend favorable business actions
Serve as Supplier Relationship Manager for assigned suppliers requiring oversight and management
Clearly communicate status and performance to various levels within Penumbra
Establish objectives and assignments for staff, provide ongoing feedback through performance reviews and development plans
Adhere to the Company’s QMS and ensure department members follow QMS, regulations, standards, and procedures
Perform other work-related duties as assigned

Skills

Key technologies and capabilities for this role

Strategic SourcingSupplier ManagementContract NegotiationSupply Chain ManagementProcurement StrategyRisk MitigationBusiness AnalyticsKPIsMSA ManagementSupply AgreementsElectronics Contract ManufacturingElectronics Manufacturing Services

Questions & Answers

Common questions about this position

Is experience with Electronics Manufacturing Services required for this role?

Experience with managing Electronics Manufacturing Services / Electronics Contract Manufacturing suppliers is a plus, but not explicitly required.

What are the main responsibilities of the Procurement Portfolio Manager?

The role involves leading sourcing strategies for cost efficiencies, supply assurance, and risk mitigation, collaborating with stakeholders to manage the supply base, and developing supplier relationships while directing Portfolio Leads.

Does this role involve leadership or team management?

Yes, the role includes giving directions to Portfolio Leads and other Procurement team members and helping develop their abilities.

What collaboration is expected in this position?

The role requires active collaboration with stakeholders including Operations Product/Portfolio Leadership, R&D, Operational Procurement, Mfg. Engineering, Quality, and other cross-functional partners to meet business needs and manage suppliers.

What makes a strong candidate for this Procurement Portfolio Manager role?

Strong candidates will have experience in strategic sourcing, supplier management, risk mitigation, and cross-functional collaboration, with a plus for Electronics Contract Manufacturing expertise.

Penumbra Inc

Develops medical devices for vascular conditions

About Penumbra Inc

Penumbra Inc. specializes in creating medical devices aimed at treating neurovascular and peripheral vascular conditions. Their products, such as the Penumbra System and the Indigo System, are designed for use in hospitals and clinics, helping healthcare professionals address issues like stroke and other vascular diseases. These devices work by providing advanced tools for interventions in neurology and vascular surgery, allowing for effective treatment options. Unlike many competitors, Penumbra focuses specifically on these specialized areas, ensuring their products are tailored to the needs of medical professionals in these fields. The company's goal is to continuously improve and innovate their medical devices to enhance patient care and support healthcare providers in delivering effective treatments.

Alameda, CaliforniaHeadquarters

2004Year Founded

$116.7KTotal Funding

IPOCompany Stage

Biotechnology, HealthcareIndustries

1,001-5,000Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

401(k) Retirement Plan

401(k) Company Match

Paid Parental Leave

Paid Vacation

Paid Sick Leave

Paid Holidays

Risks

Recent layoffs in the Immersive Healthcare division may indicate financial strain.

The EMBOLIZE trial could divert resources from core product lines.

Regulatory challenges in Europe may impact sales of new products like BMX81 and BMX96.

Differentiation

Penumbra offers a comprehensive range of neuro and peripheral vascular devices.

The company focuses on innovative solutions for stroke and neurovascular disease treatment.

Penumbra's global presence spans North America, Europe, Asia, and Australia.

Upsides

Growing demand for minimally invasive procedures aligns with Penumbra's product offerings.

The global neurovascular devices market is projected to grow at 8.5% CAGR until 2030.

Penumbra's European launch of BMX81 and BMX96 expands its market presence.

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