Product Sourcing Engineer

At Philips, we are dedicated to improving people's lives through meaningful innovation. As a Product Sourcing Engineer, you will play a crucial role in our mission by identifying and sourcing the best products and components for our innovative solutions. We are looking for a highly motivated individual with a strong background in engineering, sourcing, and supply chain management to join our dynamic team. If you are passionate about driving quality and efficiency in product development, have a keen eye for detail, and thrive in a fast-paced environment, we want to hear from you. Join us and help us make a positive impact on the world.

1. Identify and evaluate potential suppliers and manufacturers for products and components used in Philips' innovative solutions.
2. Develop and maintain strong relationships with suppliers to ensure timely and cost-effective delivery of high-quality products.
3. Conduct thorough market research to stay informed of industry trends and advancements in product sourcing.
4. Collaborate with cross-functional teams, including engineering, product development, and supply chain, to ensure alignment on product specifications and sourcing strategies.
5. Negotiate pricing and contracts with suppliers to secure the best possible deals for Philips.
6. Continuously monitor and evaluate supplier performance to identify areas for improvement and implement corrective actions as needed.
7. Stay updated on relevant regulations and compliance requirements related to product sourcing.
8. Work closely with quality control teams to ensure all products meet Philips' high standards for safety and performance.
9. Develop and maintain a comprehensive database of suppliers and their capabilities to support efficient and effective sourcing decisions.
10. Participate in product development meetings to provide input on sourcing feasibility and cost implications.
11. Proactively identify potential risks and develop contingency plans to mitigate any potential disruptions in the supply chain.
12. Keep abreast of emerging technologies and trends in sourcing and supply chain management to continuously improve processes and strategies.
13. Support cost reduction initiatives by identifying alternative sourcing options and implementing cost-saving measures.
14. Communicate effectively with internal stakeholders, including management, to provide updates on sourcing activities and address any concerns or issues.
15. Comply with all company policies, procedures, and ethical standards while performing job duties.

According to JobzMall, the average salary range for a Product Sourcing Engineer in Cambridge, MA, USA is between $80,000 and $120,000 per year. This may vary depending on factors such as the size of the company, level of experience, and specific job responsibilities. Some companies may also offer additional benefits and bonuses.

Royal Philips is a health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. The company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care.