LSEG Senior Buyer (Networks & Datacenters) in London, United Kingdom
LSEG recently acquired Refinitiv. An integration program is currently underway to execute the combination of the two companies and deliver organizational and procurement synergies. LSEG is taking this opportunity to combine and transform both procurement functions into a single, world class Group Procurement function.Group Procurement is responsible for managing third-party supplier engagements, partnering with the business to drive high performance and sustainable value from our supplier relationships. We aim to make LSEG easier and more attractive to do business with and we consider our suppliers as a source of competitive advantage and not just about cost.We operate a business partnering and supplier relationship management (SRM) model, aligned to stakeholder groups and spend categories, ensuring value through early and strategic engagement and insightful vendor spend analytics.Some key characteristics of the new Group Procurement organization:
Supplier spend c £2BN and c. 5,000 suppliers
Team structured around:
Three towers aligned to the master categories of spend (Technology, Services and Corporate), focused on category management, sourcing, supplier relationship management and business partnering
A Strategy & Performance center, enabling function to drive and implement the strategy of the Group Procurement function, best in class procurement policy and processes
Key hubs for the category teams in London, Bangalore and New York with a small amount of decentralized activity to support local markets which are in various global locations including Europe and AsiaThe purpose of the role is to support the Category Lead and Category Managers with the delivery of the category strategy and deployment of the supplier relationship management program, ensure quality issues are resolved with the supply base and monitor the PR/PO pipeline.This role sits in the Technology tower, reporting to the Category Lead for Networks & Datacenters, who is responsible for the global procurement activities including engagement and ongoing management of third-party suppliers, the sourcing and vendor strategy and roadmap for the CategoryThe Networks & Datacenters Category represents a spend of c.£200 m, with key spend areas including Datacenters and associated Services (including Co-location sites), Telco and Networks (Circuits), Networks Hardware and Support ServicesThe role will perform a combination of sourcing, supplier management and business partnering activities, with an emphasis on sourcing.Although primary aligned to the above category, this role may be required to support other sub-teams with Group Procurement.Key interfaces:
With line management (Category Lead for Networks & Datacenters)
Category Managers and other buyers
Group Procurement Centre of Excellence and Shared Services teams
Business: supplier business owners and budget holders
Key partnering functions: Head of Foundation Services and their functionKey responsibilities of the role:
Support the delivery of the category strategy and deployment of the supplier relationship management program
Contribute to the development of basic sourcing strategies, including identifying risks, key outputs and deliverables.
Lead sourcing and negotiation for low to medium spend new agreements or renewals within own scope and escalating those that are not, analyzing financial and commercial structure, engaging Legal as required and ensuring correct terms and conditions are applied
Engage stakeholders to ensure renewal is required and scale is accurate Engage the appropriate business stakeholder or vendor manager to get PO raised
Support Category Leads or Category Managers with SRM activities, manage allocated supplier relationships Support sourcing activities across the wider team (Category Leads or Category Managers in other categories), as required depending on workload
Manage the PR/PO pipeline for the assigned Category of spend
Review pipeline and Purchase Requisition queue and liaise with the Category Lead and relevant Category Managers
Ensure purchase requests meet required standards - i.e. approval process has been followed, a fully signed LSEG standard contract and statement of work (if applicable) is in place, due diligence has been completed appropriately on new suppliers
Ensure Category managers are kept informed
Keep abreast of market and industry developments. Able to make recommendations on alternate sources of supply to inform specifications Stakeholder engagement
Engage with key stakeholders across the business and key functions such as Legal, Finance and HR to progress queries and act as a point of procurement contact, with support from the Category Lead and other Category Managers
Engage with budget-owners to obtain key information and explain procurement processes in line with agreed process and procedures.
Deal with stakeholder queries escalating as appropriate
Engage with key functions to obtain information and complete necessary actions such as supplier segmentation form Managing BAU Information technology
Maintain Procurement systems and tools (e.g. pipeline management tool, savings tracker, supplier and contract databases, Category spend metrics)
Ensure that purchasing, pricing and supplier master data is kept up to date on the relevant IT systems so as to maintain procurement and planning efficiencies
Assess the value added by IT systems to resources employed (e.g. assess benefits of new sourcing solutions), support the design, implementation and management of procurement systems
Ensure that relevant contracts are in place for key suppliers as assigned and supported by the Category Lead..
Monitor contract performance and able to identify when corrective action needed
Identify where it is necessary to vary a contract to deliver continuous improvement, draft robust variations and ensure proper approvals are sought
Provide assistance to the business and suppliers across the end to end sourcing process, i.e. reviewing purchase orders, facilitating exceptions such as payment difficulties and ensuring timely delivery of goods and services, ensuring an excellent service is provided from within Group Procurement and other key stakeholders. Escalate when appropriate Actively promote continuous improvement by challenging process and procedure to identify and implement valid improvementsEnter the essential experience and skills required:
3-year experience in buying / procurement
Commercially minded and proficient negotiator
Ability to liaise with and manage suppliers
Experience in market and category analysis
Ability to assess, prioritize workload and meet deadlines
Strong IT skills (Office programs especially, Procurement systems desirable), ability to provide management information to assist sourcing and contract management process
Ability to build relationships, influence and act as an expert across the organization up to senior management level
General analytical, problem solving, and decision-making skills
Pro-active behavior that demonstrates initiative and positive work ethic to ensure activities are delivered to the required time, budget and quality
Maximize opportunities, i.e. challenges ways of working, adopts Group practices, seeks and provides information and clarification
Teamwork - ability to work with other category teams, both a local and an off-shore to deliver services to stakeholders
Strong communication skills (written and verbal)
Educated to degree level
Experience working in Technology Procurement
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