Vice President of Procurement

Formulated Solutions is seeking an accomplished Vice President of Procurement to provide enterprise-wide leadership for strategic sourcing and procurement across our multi-site Contract Development and Manufacturing Organization (CDMO). Reporting to the Chief Supply Chain Officer and serving as a member of the Executive Leadership Team, this position will develop and execute procurement strategies that ensure reliable supply, improve cost competitiveness, optimize working capital, and support profitable business growth. The Vice President will oversee direct materials, packaging components, indirect goods and services, and capital expenditures while balancing cost, quality, service, regulatory compliance, customer commitments, cash requirements, and continuity of supply. This hands-on executive will lead Category Managers and site procurement teams while establishing consistent procurement practices across the organization. MAJOR DUTIES AND RESPONSIBILITIES PROCUREMENT STRATEGY AND LEADERSHIP Develop and execute an enterprise-wide procurement strategy aligned with business objectives, customer commitments, operating plans, and financial requirements. Lead strategic sourcing and category management for direct materials, packaging components, indirect goods and services, and capital expenditures across the company’s multi-site network. Establish procurement priorities, policies, processes, governance, controls, and performance standards across all locations. Build, develop, and lead a high-performing procurement organization while remaining actively involved in critical sourcing, negotiation, supplier, and operational matters. Develop category strategies using spend analytics, market intelligence, demand forecasts, supplier capabilities, cost drivers, and industry trends. CASH, WORKING CAPITAL, AND VALUE CREATION Partner with the Chief Supply Chain Officer and Finance to develop procurement strategies that support cash-flow and working-capital objectives. Optimize supplier payment terms, lead times, order quantities, safety-stock levels, consignment arrangements, vendor-managed inventory, and inventory-ownership models. Balance liquidity requirements with supplier sustainability, contractual obligations, customer commitments, continuity of supply, and long-term commercial relationships. Negotiate extended payment terms and other working-capital improvements without creating unacceptable supply, quality, legal, regulatory, or reputational risk. Partner with Supply Chain, Operations, Commercial, Quality, and Finance to reduce excess, obsolete, slow-moving, and at-risk inventory. Lead competitive sourcing, supplier selection, negotiations, contracting, and commercial management for direct, indirect, and capital purchases. Identify and deliver measurable cost savings, cost avoidance, productivity improvements, and working-capital benefits. Partner with Finance to ensure procurement savings are forecasted, validated, tracked, and reflected in the P&L and cash flow. Develop strategies to manage inflation, tariffs, duties, freight costs, commodity volatility, foreign-exchange exposure, and other market risks. Lead negotiations for high-value, high-risk, and business-critical supplier agreements. SUPPLIER MANAGEMENT AND SUPPLY ASSURANCE Establish a supplier relationship and performance-management program covering quality, cost, delivery, service, innovation, compliance, financial health, and responsiveness. Identify critical suppliers and materials and implement appropriate risk-mitigation, contingency, dual-sourcing, safety-stock, and business-continuity strategies. Monitor supplier capacity, financial stability, geopolitical exposure, regulatory status, and operational performance. Partner with Quality to ensure suppliers meet specifications, quality agreements, change-control requirements, audit expectations, and regulatory standards. Lead the commercial resolution of supplier quality, delivery, capacity, pricing, and contractual iss…

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