Senior Manager, Store Brand Product Sourcing

Senior Manager Of Store Brand Product Sourcing

We're building a world of health around every individual — shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do. Join us and be part of something bigger – helping to simplify health care one person, one family and one community at a time.

As a Senior Manager of Store Brand Product Sourcing, you will lead the end-to-end supplier selection and sourcing strategy for CVS Store Brand healthcare items. This role is responsible for developing a high-performing supplier base, driving strategic negotiations, and delivering incremental profit through optimized sourcing decisions. You will partner closely with internal and external stakeholders, including Category Management, Finance, Inventory, Legal, and manufacturing partners, to ensure reliable supply, competitive cost structures, and long-term value creation.

In this role, you will shape tailored sourcing strategies, assess market dynamics, cultivate strong supplier relationships, and guide executive decision-making through data-driven insights and presentations. As part of the IQ Purchasing team and reporting directly to the Director of IQ Purchasing, you will play a pivotal role in enhancing sourcing capabilities, strengthening supplier partnerships, and advancing the overall performance of the Store Brands healthcare portfolio.

Role Responsibilities:

Supplier Strategy & Negotiation

• Lead complex, high-value negotiations (including RFPs/RFQs) using advanced strategic thinking and proven negotiation expertise.
• Develop strong partnerships and optimize the supplier base by identifying new partners, executing consolidation strategies, and leveraging alternate source suppliers.

Strategic Sourcing & Category Leadership

• Develop and execute data-driven sourcing strategies in alignment with category objectives and enterprise goals.
• Evaluate market dynamics, commodity trends, and competitive landscapes to proactively adjust sourcing strategies.

Forecasting & Financial Analysis

• Lead forecasting processes with high accuracy, using advanced Excel modeling and analytical frameworks.
• Ensure realized savings align with budget, goals, and forecast assumptions by explaining variances, assessing risks, and identifying opportunities.

Process Optimization & Operational Excellence

• Drive continuous improvement initiatives that enhance sourcing efficiency, analytical rigor, and operational performance.
• Develop, refine, and manage complex analytical models to support decision-making across supplier selection, cost modeling, risk assessment, and forecasting.

Required Qualifications:

• 5+ years of relevant experience in Category Management or in an analytical, inventory, sourcing, merchandising, or buying position.
• Ability to partner cross-functionally with key stakeholders to drive alignment, resolve issues, and support business decisions.
• Strong ability to construct complex analytical models in Excel
• Skill in distilling complex ideas into simple frameworks and illustrations and translated into clear executive-ready narratives using PowerPoint
• Superior analytical, quantitative, and problem-solving skills, including competency with statistics.
• Understanding of upstream manufacturing and supply chain processes.
• Exceptional attention to detail with the ability to manage multiple projects and shifting priorities.
• Demonstrate a high level of initiative, ownership, and independent decision-making in guiding strategic sourcing outcomes.

Work Requirements

• Willingness to travel 10–15% of the time.
• Ability to follow a hybrid working model (3 days onsite, 2 remote) based in Woonsocket, RI.
• Reliable and consistent attendance during established working hours.

Preferred Qualifications:

• SAS, SQL, Access and Tableau knowledge
• Related product segment experience (Healthcare)
• Experience with MS Co-Pilot or similar AI platforms
• 1 Year or more of consulting or related analytical experience a plus

Education:

Bachelor's degree required, or equivalent work experience

Pay Range

The typical pay range for this role is:

$82,940.00 - $182,549.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company's equity award program.

Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.

Great benefits for great people

We take pride in our comprehensive and competitive mix of pay and benefits – investing in the physical, emotional and financial wellness of our colleagues and their families to help them be the healthiest they can be. In addition to our competitive wages, our great benefits include:

• Affordable medical plan options, a 401(k) plan (including matching company contributions), and an employee stock purchase plan.

• No-cost programs for all colleagues including wellness screenings, tobacco cessation and weight management programs, confidential counseling and financial coaching.

• Benefit solutions that address the different needs and preferences of our colleagues including paid time off, flexible work schedules, family leave, dependent care resources, colleague assistance programs, tuition assistance, retiree medical access and many other benefits depending on eligibility.