Title: Sr Procurement Specialist - Commodities Risk Management

               

Location: Kennewick, WA

               

About Lamb Weston

We love making fries almost as much as you like eating them! Since the 1950’s, Lamb Weston has inspired customers with food they love, trust, and share with families and friends. As a leading global manufacturer of quality frozen potato products with over 10,000+ team members around the world, it’s our business to see the possibilities in potatoes and people.

We are looking for team members with an appetite for a challenge! People who are hungry to join a winning team and help us make a difference in the world. When you join Lamb Weston, you join a community with a strong support network and training programs designed to nurture, inspire, and help you grow.

We are driven by a relentless pursuit of results and by people who think creatively and embrace our values of: Integrity, Teamwork, Inclusion, Drive for Results, and Empowerment. Exactly what you’d expect from the most inventive potato company in the world!

Join Lamb Weston! We bring the world together with our fries.

Job Description Summary

               

A successful candidate understands the STP process from the beginning to end as it pertains to direct material procurement and can actively demonstrate through an understanding of supply assurance and risk mitigation, category and sourcing strategy development, negotiation, contracting, supplier management, and analysis. The role will be responsible for strategy implementation, negotiation and contracting within assigned categories. The position is also responsible for assisting in the development and execution of strategic risk management programs in support of LW global business plans for the underlying commodities used in the procurement of ingredients. Capable in cross functional engagements with stakeholders and prioritizing activities to achieve procurement department objectives and financial results. Maintenance of relationships with internal and external stakeholders, market analysis, supply and financial exposures and risk, and execution of mitigation strategies will be critical. Must maintain the ability to communicate with internal and external stakeholders clearly and concisely with a strong understanding of global ingredient markets, STP fundamentals, factory environments, and risk mitigation strategies.

Job Description

• Category Management (40%):
  • Develop and execute strategies for global ingredient procurement.
  • Identify and implement cost and/or process improvement projects across the LW platform.  
  • Assist in the collection, reporting, and improvement of key metrics to reduce expenses without impacting productivity.
  • Develop benchmarking, performing cost analysis, and execution strategies as appropriate.
  • Work collaboratively with internal stakeholders to ensure proper alignment across the platform.
  • Collaborate with business stakeholders at all levels of the organization globally to achieve savings targets, improve supplier performance, minimize supply chain risk, and maximize supplier collaboration and innovation.
  • Identify key procurement and supply chain risks and opportunities and assist in developing mitigation strategies.
  • AOP planning and execution.
  • Other duties and responsibilities may be required and/or assigned as necessary.

• Risk Management (60%):
  • Collect, manage, and report external market intelligence. Provide insights and report on commodity performance, trends, and forecasts.
  • Monitor market dynamics and make coverage recommendations to optimize value in commodity markets. Analyze trends in commodity markets
  • Maintain physical and financial commodities positions in compliance with Commodity Risk Policy
  • Work collaboratively with management and finance teams (Finance, Accounting, Treasury) on the reporting of appropriate metrics.
  • Assist with the Global Commodity and Risk Management strategy development and execution.
  • Execute all derivative positions on vegetable oil, communicate with counterparties, analyze risks.
  • Calculate commodity exposure using cost models and stress tests for forecasted raw material purchases, oversee underlying risk exposure.
  • Assist with tasks at Manager's direction.

Basic & Preferred Qualifications

• 7+ years of experience in commodity management, procurement, or supply chain management.
• Strong understanding of commodity markets and agricultural raw materials exposure.
• Exceptional analytical and critical-thinking skills, with a demonstrated ability to make data-driven sourcing decisions.
• Ability to collaborate with cross-functional teams.
• Strong verbal and written communication skills, formal presentation skills
• Ability to collect data and understand Global Commodity and ingredient market intelligence.
• Translate market intelligence into actionable guidance.
• Understanding of financial risk management strategies and processes.
• Proficient in Microsoft Office Suite (Excel, OneNote), Commodity market software (Bloomberg/Eikon), SAP.
• Ability to interact with multiple levels of the organization, from factory to Leadership.

Travel might be required based on the applicant’s location.

Industry-Competitive Benefits

Coupled with our compensation and bonus incentive programs, our benefits deliver rewards that are market competitive.  Some of the most attractive elements of our benefit programs include:

• Health Insurance Benefits - Medical, Dental, Vision

• Flexible Spending Accounts for Health and Dependent Care, and Health Reimbursement Accounts

• Well-being programs including companywide events and a wellness incentive program

• Paid Time Off

• Financial Wellness – Industry leading 401(k) plan with generous company contributions, Financial Planning Services, Employee Stock purchase program, and Health Savings Accounts, Life and Accident insurance

• Family-Friendly Employee events

• Employee Assistance Program services – mental health and other concierge type services

Benefits may vary based on location, job role/level, job status, and/or the terms of any applicable collective bargaining agreements.

               

Job Requisition ID: Req-256426

               

Time Type: Full time

               

Anticipated Close Date: 02/10/2025

               

In compliance with applicable state and local laws, Lamb Weston has opted to include a reasonable estimate of the compensation for this role. This compensation is specific to this position and takes into account a number of variables. Actual compensation may be higher or lower in the range posted based on various factors, including, but not limited to, job duties, experience and expertise. A candidate’s work location could also impact the actual compensation being outside of the range to reflect local cost of labor. A reasonable annual estimate of the range for this role based on the variables previously mentioned is: $74,190.00 - $111,300.00

               

Lamb Weston is an Equal Opportunity Employer and considers qualified applicants for employment without regard to race, color, creed, religion, national origin, sex, sexual orientation, gender identity and expression, age, disability, veteran status or any other protected factor under federal, state or local law