Fashion

Lifestyle

Outdoor

Snow

Senior Global Sourcing Manager - Negotiations

Strategic and creative Retail Manager with 17 years of experience and a proven record of planning and coordinating purchasing strategies resulting in exceeding budgeted sales, profitability, quality standards; extensive experience utilizing robust market research, trend analysis, and selling history to create trend driven assortments that maximize full price selling and engage and inspire the consumer.  Skilled in conducting strategic, win-win, and value creating vendor negotiations; practiced in developing strategic long range vendor matrix and country of production plans while managing vendor relationships and performance.  Passionate leader adept at identifying and coaching abilities while fostering dynamic learning environment aligning individuals with opportunities and roles best suited to their skills and interests.

Netted $20M in annual savings (a 15% average cost reduction) through intensive negotiation event leveraging extensive data and cross functional resources optimizing category costing and long term vendor relationships. 
Performed extensive market research and established fair market cost parameters and anchor goal cost by program by amalgamating expert interviews (manufacturing, production, equipment, fabric, design) and market/product research (production pattern data, product cost engineers, technical team, historical cost data, commodity indices, institutional reports).
Innovated negotiation approach leveraging block spec analysis to create costing library for core teams to leverage to sustain negotiated savings and drive further savings beyond the negotiation event.
Effectively developed and managed project timelines, calendars, and workflow calendar engaging with Cross Functional partners to ensure negotiation deliverables met division product development and commitment timing

• Cultivate and develop vendor partner portfolio delivering optimal costing, capabilities, and flexibility to $450M Kids Sleep/Basics/Hosiery/Accessories business.
• Create 5-year plan lessening penetration in unstable (wage, compliance) countries while expanding footprint in solid margin-healthy marketplaces leveraging vertical production.
• Eliminate excess product cost through expert negotiations, partnering with vendors to implement lean manufacturing techniques and utilize all available system resources.
• Enhance vendor competition to drive down costs while utilizing vendor market knowledge ensuring Target delivers best trend-right product for guest.
• Drive more profitable merchandising assortment decisions through surgically expanding vendor matrix to include design resources, quarterly competitive and benchmark sales analysis and routine design trend updates.
• Lead and develop dynamic team through constructive feedback and directional opportunities tailoring projects to stretch learning and growth while aligning with team member interests and developmental priorities.
• Coach and guide direct reports through promotion process, aligning them with appropriate resources while providing constructive feedback and positive reinforcement throughout.
• Partner with Senior cross functional leaders to align on strategic priorities and drive productivity through our respective teams.
• Engineer streamlined team structure to create direct strategic link between cross-functional sourcing/buying/design teams.
• Mend frayed cross functional analyst relationships through development and hosting of half-day experience which stripped away differences and realigned all around common goals.
• Farm and distill considerable cost-versus-lead-time data into company-wide roadmap optimizing complex program placement decisions.

Lead Senior Global Sourcing Manager - BBBG Basics/Accessories/Sleep/Hosiery

As Senior Global Sourcing manager I cultivated and developed the complex vendor partner portfolio delivering optimal costing, capabilities, and flexibility to $650M Men's Sportswear business, creating a 5-year sourcing strategy lessening penetration in unstable (wage, compliance) countries while expanding footprint in solid margin-healthy marketplaces leveraging vertical production.
• I eliminated excess product cost through expert negotiations, enhancing vendor competition to establish leverage, partnering with vendors to implement lean manufacturing techniques, and expanding vendor matrix to include vertical and vendor design resources.
• I partnered with Senior cross functional leaders to align on strategic priorities and drive productivity through our respective teams
• I lead and develop dynamic teams through coaching and directional opportunities tailoring projects to stretch learning and growth while aligning with team member interests and developmental priorities

Lead Senior Global Sourcing Manager - Men's Sportswear

Find out detailed information about Michael Stern, Senior Global Sourcing Manager - Negotiations in Minneapolis, MN

Michael Stern: Senior Global Sourcing Manager - Negotiations in Minneapolis, MN

Michael Stern

Target

Target

Target

Dartmouth College