Principal Category Manager

Xcel Energy (NASDAQ: XEL) is a leading energy provider and Fortune 500 company, dedicated to serving millions of electricity and natural gas customers across eight states: Minnesota, Colorado, Wisconsin, Michigan, North Dakota, South Dakota, New Mexico and Texas. We make energy work better for our customers, helping them thrive every day. That means always raising the bar - delivering better service and providing more reliable, resilient, and sustainable energy. Xcel Energy is a place where you’ll have opportunities to grow, expand your skills, and help lead the clean energy transition. We offer meaningful rewards, recognition, and support to help you build your career and make an impact - both on the job and beyond. Most importantly, it means you’ll be joining a company that knows employees are the driving force behind its success and is committed to helping you be your best. Xcel Energy supports a hybrid work model to enable collaboration and flexibility. Many roles are expected to work onsite three days per week (Tuesday–Thursday); however, work location expectations vary based on role, team, and business needs. Principal Category Manager Position Summary Provide sourcing leadership and direction for complex, critical sourcing categories with the greatest impact. Lead cross functional teams to drive successful project and category outcomes/results. Develop and effectively execute sourcing strategy. Collaborate with the business to plan and implement complex competitive sourcing events and other activities to advance category strategies. Develop effective negotiation strategies and negotiate commercial terms with critical suppliers to achieve objectives. Manage risk mitigation efforts and oversee on-going supplier performance. Ensure compliance with supplier safety, risk assessments, and other supplier programs. Serve as a technical expert for the Category Management organization. Essential Responsibilities Lead the development and implementation of critical enterprise-wide category strategies. Perform spend and cost analysis (e.g. total cost of ownership and should cost models) and develop category strategies to achieve maximum value capture. Complete supplier research and risk profiles. Monitor industry information, external factors, and trends to ensure category strategy is leading current best practices. Develop and execute complex sourcing event strategies and guide others on the team. In conjunction with logistics personnel implement optimal inventory strategies. Lead tier I supplier relationship management efforts for multiple and the most critical suppliers focusing on improving total cost of ownership quality delivery and continuous improvement. Maintain awareness of supplier innovations and incorporate them into sourcing strategy. Establish KPIs and metrics. Monitor document and evaluate supplier performance. Lead the resolution of disputes with critical suppliers. Develop strategy and lead negotiations to establish contracts that support category strategies while meeting business requirements. Review analyze verify and negotiate contract changes or additional work orders. Monitor compliance across buying channel supplier and contract purchasing execution. Manage contractor claims to resolution. Ensure suppliers comply with contract terms and meet all commitments. Develop and communicate contract summary and implementation plans. Develop risk management strategies in conjunction with Legal and Security apply understanding of underlying principles of contract law. In collaboration with business area management manage and define the risk elements of the contract. Limit Xcel Energy risk by ensuring all required documents and notices have been obtained and are satisfactory. Create and manage project plans to implement category strategies. Manage supply chain business and supplier continuous improvement efforts. Provide expert guidance oversight and collaboration with the supply chain team to build cat…

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