Director with over 20 years in procurement, sourcing, and materials management within the healthcare and pharmaceutical sectors. Proven track record of reducing costs by implementing strategic sourcing strategies and optimizing inventory management, achieving a 12%, $2.5M reduction in generic drug spend annually, and enhancing inventory accuracy. Skilled in contract negotiation and fostering strong trade relationships, consistently improving operational efficiencies.Procurement Director | Sr Managerdaniel.welch@comcast.netCORE COMPETENCIES• Trade Relations• Product Sourcing• Contract Negotiations• Process Improvements• Cost Reduction Initiatives• Trend Anticipation and ForecastACCOMPLISHMENTSSpearheaded the creation of a new mail-order pharmacy startup supporting 2,000 prescriptions daily, developing the purchasing, and inventory management processes. Sourced and managed 20 direct and indirect vendor relations.Implemented vendor sourcing strategy aligned with the company’s goals and initiatives leading to stronger trade partner relations and a 12%, $240K drug cost reduction.Contracted OTC manufacturer to produce a line of private-labeled offerings, reducing the targeted product costs by 20%.Managed the RFP process, disseminated primary, secondary, and tertiary source awards, reduced the direct spend by an average of $2.5M annually, and indirect spend by 15%, $150K.Monitored market conditions for hedge buying opportunities, increasing the profit margin by an average of 5-7% annually.Designed a new 32,000 sq ft warehouse expansion layout, enhancing space utilization and workflow efficiency. The project was completed within the projected 6-month timeframe and under the $100K budget forecast.Partnered with generic drug manufacturers with new product launches, securing favorable pricing, leading to an average 10% discount and extended payment terms.Performed annual physical inventories consistently resulting in a less than 2% variance (CII-V, Rx, OTC).Redesigned the batching process workflow, saving $35K annually in labor costs.Contact me @ daniel.welch@comcast.net or 847.909.4306 for any procurement management opportunities.