Compensation Overview

The Procurement Portfolio Manager is responsible for leading the development and implementation of sourcing strategies that deliver cost efficiencies, supply assurance, risk mitigation, and quality in the procurement of materials and services for a given product portfolio. 

The Procurement Portfolio Manager will ensure procurement strategies, processes, and program executions are fully integrated to support internal business plans and company objectives. 

Actively collaborate with stakeholders to identify and manage a key supply base that supports both current and future product needs. 

This role will at times, give direction to Portfolio Leads and other Procurement team members and help develop their abilities in this space. 

This role is expected to help identify and evaluate suppliers, develop strategic supplier relationships, negotiate terms and conditions, and continuously drive improved supplier service levels.

• Identifies business needs of the product portfolio and develops business-level partnerships. 

• Collaborates with Operations Product/Portfolio Leadership to ensure business needs are met. 

• Develops supplier strategies in alignment with the business partner priorities/requirements and business growth objectives. 

• Manages the strategic sourcing activities for a Penumbra product portfolio to ensure supply continuity and deliver efficiencies in spend.

• Builds, optimizes, and measures annual savings plan goals. 

• Establishes, analyzes, and reports business analytics, KPIs, and customer satisfaction criteria for procurement.

• Establishes and maintains a supplier landscape, manages the contracting processes for MSAs, Supply Agreements, and maintains adherence to the processes.

• Manages supplier engagements to improve performance, optimize costs, and contract appropriately to ensure supply continuity.

• Execute and maintain key sourcing 

relationships that provide year-over-year benefits to quality, response time, technology, risk, and total cost. 

• Lead regular business reviews with suppliers and Penumbra stakeholders. 

• Takes a proactive position to identify and mitigate supply risks within the portfolio supported. 

• Develops strategic roadmaps for assigned portfolio ensuring suppliers are capable of meeting current and future business requirements. 

• Establish supplier selection criteria, evaluate alternative suppliers, and drive final supplier selection in partnership with R&D, Purchasing, Mfg. Engineering, Quality, and other cross-functional partners. 

• Responsible for understanding the benefits and costs of supply chain options and leveraging that knowledge to drive strategic discussions and decisions. 

• Leverages knowledge of suppliers, supply base, and market conditions to recommend actions favorable to the business. 

• Supplier Relationship Manager for assigned suppliers requiring careful oversight and management.

• Clearly communicates status and performance to various levels within Penumbra.

• May manage one or more Procurement employees.

• Selects, manages, trains, and develops staff as required. 

• Establishes objectives and assignments and provides ongoing feedback through performance reviews and development plans.

• Adhere to the Company’s Quality Management System (QMS) as well as domestic and global quality system regulations, standards, and procedures. 

• Understand relevant security, privacy and compliance principles and adhere to the regulations, standards, and procedures that are applicable to the Company. 

• Ensure other members of the department follow the QMS, regulations, standards, and procedures. 

• Perform other work-related duties as assigned.

• Bachelor’s degree or equivalent with 8+ years of sourcing or commodity management experience in the medical device, pharmaceutical, or biotechnology industry; or an equivalent combination of education and experience. 

• Excellent written and oral communication skills, excellent spreadsheet, presentation, and word processor skills. 

• Experience in managing strategic sourcing strategies, negotiating long-term agreements and contracts. 

• Team player with excellent influencing and collaboration skills. 

• Ability to communicate effectively with senior management, internally and externally. 

• Experience in direct materials sourcing desired.

• General office environment, shipping/receiving, laboratory, and cleanroom environments.

• Willingness and ability to work on site.

• May have business travel from 10% - 25%

• Potential exposure to blood-borne pathogens.

• Requires some lifting and moving of up to 25 pounds.

• Must be able to move between buildings and floors.

• Must be able to remain stationary and use a computer or other standard office equipment, such as a printer or copy machine, for an extensive period of time each day.

• Must be able to read, prepare emails, and produce documents and spreadsheets. 

• Must be able to move within the office and access file cabinets or supplies, as needed.

• Must be able to communicate and exchange accurate information with employees at all levels on a daily basis.

We offer a competitive compensation package plus a benefits and equity program, when applicable.

Individual total compensation will vary based on factors such as qualifications, skill level, competencies, and work location. 

•A collaborative teamwork environment where learning is constant, and performance is rewarded.

•The opportunity to be part of the team that is revolutionizing the treatment of some of the world’s most devastating diseases.

•A generous benefits package for eligible employees that includes medical, dental, vision, life, AD&D, short and long-term disability insurance, 401(k) with employer match, an employee stock purchase plan, paid parental leave, eleven paid company holidays per year, a minimum of fifteen days of accrued vacation per year, which increases with tenure, and paid sick time in compliance with applicable law(s).

Penumbra, Inc., headquartered in Alameda, California, is a global healthcare company focused on innovative therapies. Penumbra designs, develops, manufactures, and markets novel products and has a broad portfolio that addresses challenging medical conditions in markets with significant unmet need. Penumbra sells its products to hospitals and healthcare providers primarily through its direct sales organization in the United States, most of Europe, Canada, and Australia, and through distributors in select international markets. The Penumbra logo is a trademark of Penumbra, Inc.