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Commodity Specialist Job Description

This is an example of a Commodity Specialist job description for a reference when building your resume. Analyze the qualifications and requirements listed to get an understanding of what you need to include on your resume for what employers would look for in this field.

SUMMARY:

As a Commodity Specialist, your primary responsibility is to manage the procurement and supply chain activities for specific commodities or materials within an organization. You will analyze market trends, evaluate suppliers, negotiate contracts, and ensure the availability of high-quality commodities at competitive prices. Your role involves collaborating with cross-functional teams, managing supplier relationships, and optimizing commodity sourcing and inventory management.

Additional strategies for this can be found here.

FUNCTIONAL DUTIES:

  • Commodity Sourcing: Identify and evaluate potential suppliers for specific commodities or materials based on quality, cost, reliability, and sustainability criteria. Conduct market research and analysis to identify market trends, pricing dynamics, and supplier capabilities.
  • Supplier Evaluation and Management: Assess supplier capabilities, financial stability, production capacity, and ethical standards. Develop and maintain strong relationships with suppliers, collaborating to improve quality, delivery times, and cost efficiencies. Conduct supplier performance reviews and manage supplier contracts and agreements.
  • Negotiation and Contract Management: Negotiate pricing, terms, and conditions with suppliers to achieve the best possible value and mitigate risks. Develop and manage contracts and agreements with suppliers, ensuring compliance with procurement policies, legal requirements, and quality standards.
  • Market Analysis and Risk Management: Monitor market trends, commodity pricing, and supply chain risks that may impact commodity availability or pricing. Develop strategies to manage market volatility, including alternative sourcing options, hedging strategies, and supply chain diversification.
  • Inventory Management: Collaborate with inventory control teams to manage commodity inventory levels and ensure optimal stock availability. Analyze demand forecasts, lead times, and consumption patterns to determine optimal inventory levels and minimize stockouts or excess inventory.
  • Supplier Performance Monitoring: Monitor supplier performance metrics, including quality, delivery performance, and responsiveness. Conduct regular performance reviews, address issues, and implement corrective actions to ensure suppliers meet performance expectations.
  • Compliance and Ethical Standards: Ensure compliance with procurement policies, legal requirements, and ethical standards related to commodity sourcing. Monitor supplier compliance with social and environmental responsibility standards, such as fair trade, sustainability, and responsible sourcing practices.
  • Cost Analysis and Optimization: Analyze cost structures, market pricing, and supplier pricing proposals to identify cost-saving opportunities. Collaborate with suppliers and internal teams to optimize costs while maintaining quality standards. Conduct cost benchmarking and implement cost reduction initiatives.
  • Cross-Functional Collaboration: Collaborate with cross-functional teams, including production, quality assurance, finance, and logistics, to align commodity sourcing strategies with business objectives. Participate in cross-functional meetings, providing expertise on commodity-related matters.
  • Reporting and Analysis: Prepare reports and presentations to communicate commodity sourcing activities, supplier performance, cost savings, and supply chain metrics to management and stakeholders. Conduct data analysis to identify trends, risks, and opportunities for process improvement.

REQUIREMENTS:

  • Bachelor’s degree in supply chain management, business administration, or a related field. Relevant certifications (e.g., CPSM) are advantageous.
  • Proven experience as a Commodity Specialist or in a similar procurement role.
  • Strong knowledge of commodity markets, pricing trends, and supply chain dynamics.
  • Proficiency in supplier evaluation, negotiation, and contract management.
  • Analytical and problem-solving skills to assess market data, conduct cost analysis, and make data-driven decisions.
  • Excellent communication and interpersonal skills to collaborate with suppliers and internal stakeholders.
  • Ability to work collaboratively with cross-functional teams and senior management.
  • Strong negotiation and influencing skills.
  • Familiarity with inventory management principles and practices.
  • Knowledge of procurement policies, legal requirements, and ethical standards.
  • Strong computer skills, including proficiency in Microsoft Office and procurement software.

This job description provides a general overview of the responsibilities and qualifications typically associated with the role of a Commodity Specialist. Actual job descriptions may vary depending on the organization’s industry, size, and specific requirements.

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