BioSpace
Director, Procurement – BioSpace
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About Formation Bio Formation Bio is a tech‑and‑AI driven pharma company differentiated by radically more efficient drug development. Founded in 2016 as TrialSpark Inc., the company has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials, helping to bring new medicines to patients faster.
About The Role The Director, Procurement will establish and manage a strategic procurement function, ensuring cost‑effective and value‑driven vendor partnerships. The role requires leading vendor negotiations, implementing best procurement practices, and collaborating with cross‑functional teams to enhance financial efficiency and mitigate risks.
Responsibilities
Develop and implement a company‑wide procurement strategy to optimize vendor spend, enhance operational efficiency, and mitigate risks.
Lead high‑value negotiations with vendors across multiple categories, including software, contract research organizations (CROs), contract manufacturing organizations (CMOs), and other drug development service providers.
Establish procurement policies, procedures, and governance frameworks to ensure consistency, compliance, and cost discipline.
Collaborate with finance, legal, R&D, and operational teams to align procurement strategies with business objectives.
Drive competitive bidding processes (RFIs, RFPs, RFQs) and vendor selection methodologies to ensure the best value for the company.
Monitor vendor performance and enforce contractual obligations to maximize service quality and efficiency.
Partner with Legal, Quality Assurance and Data Governance teams to monitor vendor compliance with company policies, industry regulations (e.g., FDA, EMA, GxP), and data security requirements.
Identify opportunities for cost savings, contract optimizations, and risk mitigation.
Implement procurement analytics and reporting tools to provide visibility into vendor spend and procurement trends.
Stay informed of industry trends, supplier market dynamics, and regulatory changes impacting procurement.
About You
Bachelor’s degree in business, finance, supply chain management, or a related field (MBA preferred).
8+ years of procurement, strategic sourcing, or vendor management experience, preferably in the biotech, pharmaceutical, or life sciences sector.
Strong negotiation skills with a proven track record of securing favorable terms with vendors.
Experience managing procurement processes for high‑value contracts, including CROs, CMOs, software vendors, and other biotech service providers.
Knowledge of contract law, risk management, and compliance in vendor agreements.
Ability to work cross‑functionally and influence senior stakeholders.
Excellent analytical, financial, and strategic thinking skills.
Proficiency in procurement and contract management software is a plus.
Location Formation Bio is prioritizing hiring in key hubs, primarily the New York City and Boston metro areas, with additional growth in the Research Triangle (NC) and San Francisco Bay Area. Please apply only if you reside in these locations or are willing to relocate.
Compensation The target salary range for this role is: $182,000 – $230,000. Salary ranges are informed by a number of factors including geographic location. The range provided includes base salary only. In addition to base salary, we offer equity, comprehensive benefits, generous perks, hybrid flexibility, and more.
You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
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About Formation Bio Formation Bio is a tech‑and‑AI driven pharma company differentiated by radically more efficient drug development. Founded in 2016 as TrialSpark Inc., the company has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials, helping to bring new medicines to patients faster.
About The Role The Director, Procurement will establish and manage a strategic procurement function, ensuring cost‑effective and value‑driven vendor partnerships. The role requires leading vendor negotiations, implementing best procurement practices, and collaborating with cross‑functional teams to enhance financial efficiency and mitigate risks.
Responsibilities
Develop and implement a company‑wide procurement strategy to optimize vendor spend, enhance operational efficiency, and mitigate risks.
Lead high‑value negotiations with vendors across multiple categories, including software, contract research organizations (CROs), contract manufacturing organizations (CMOs), and other drug development service providers.
Establish procurement policies, procedures, and governance frameworks to ensure consistency, compliance, and cost discipline.
Collaborate with finance, legal, R&D, and operational teams to align procurement strategies with business objectives.
Drive competitive bidding processes (RFIs, RFPs, RFQs) and vendor selection methodologies to ensure the best value for the company.
Monitor vendor performance and enforce contractual obligations to maximize service quality and efficiency.
Partner with Legal, Quality Assurance and Data Governance teams to monitor vendor compliance with company policies, industry regulations (e.g., FDA, EMA, GxP), and data security requirements.
Identify opportunities for cost savings, contract optimizations, and risk mitigation.
Implement procurement analytics and reporting tools to provide visibility into vendor spend and procurement trends.
Stay informed of industry trends, supplier market dynamics, and regulatory changes impacting procurement.
About You
Bachelor’s degree in business, finance, supply chain management, or a related field (MBA preferred).
8+ years of procurement, strategic sourcing, or vendor management experience, preferably in the biotech, pharmaceutical, or life sciences sector.
Strong negotiation skills with a proven track record of securing favorable terms with vendors.
Experience managing procurement processes for high‑value contracts, including CROs, CMOs, software vendors, and other biotech service providers.
Knowledge of contract law, risk management, and compliance in vendor agreements.
Ability to work cross‑functionally and influence senior stakeholders.
Excellent analytical, financial, and strategic thinking skills.
Proficiency in procurement and contract management software is a plus.
Location Formation Bio is prioritizing hiring in key hubs, primarily the New York City and Boston metro areas, with additional growth in the Research Triangle (NC) and San Francisco Bay Area. Please apply only if you reside in these locations or are willing to relocate.
Compensation The target salary range for this role is: $182,000 – $230,000. Salary ranges are informed by a number of factors including geographic location. The range provided includes base salary only. In addition to base salary, we offer equity, comprehensive benefits, generous perks, hybrid flexibility, and more.
You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
#J-18808-Ljbffr