Director of Commodity Risk and Analytics
This position is responsible for developing, communicating, gaining approval and executing commodity risk management and forecasting strategies for a variety of commodity traded items including dairy, flour, oil and sugar for the United States, Mexico and Canada.
This position is directly responsible to (1) develop and execute actionable hedging strategies (2) establish and build strategic relationships with suppliers, (3) reach targeted quality, cost-savings and profitability goals. (4) Direct and oversees all aspects of the Replenishment department including but not limited to: establishing and controlling inventory levels as required by sales demand. Developing and implementing systems and procedures to accomplish these tasks. (5) Provide supply chain analytics as requested to meet specific needs by the broader procurement team and routine to ensure all metrics are measured and addressed to prevent overages or outages of inventory.
Take a broad leadership role by providing fresh perspectives, innovative ideas, and practical solutions to risk mitigation. Work successfully with other functions to establish and manage priorities and positively influence all levels within and outside the organization to promote effective working relationships in support of objectives.
Setting goals for the workgroup, developing organizational capability and modeling how the organization works together.
Identify and communicate key responsibilities and practices to ensure the organization promotes a healthy attitude, confidence in leadership and teamwork to achieve business results. Successfully handles colleague coaching, development and performance management.
Supports the implementation of company programs to ensure the success of the Company.
Leverage technology and process to improve group operations and value technology for the business.
Responsible for departmental staffing. Continuously evaluating the workloads of each member of the department, to ensure optimal efficiency, and achieving 99% customer fill rates.
Planning & Execution:
Developing strategic and operational plans for the work group, managing execution and measuring results using futures, options and various other over the counter hedging tools in a manner that most efficiently creates insurance-like coverage and provides margin protection.
Digest market information and make recommendations in the face of uncertainty.
Prepare, communicate and educate LCE procurement leaders as well as other Ilitch companies (Blue Line, Pizza Kit, Champion Foods, etc.) in assessment and development of commodity risk strategies.
Contact with customers and suppliers.
Innovate around hedging strategies to provide sustained competitive advantage and ensure ongoing evaluation of additional hedging opportunities.
Provide input into the annual operating plan and the five-year strategic plan on enterprise risk management issues, interest and currency rate forecasts and other capital market activities.
Track and analyze current and historical buying performance to published ingredient markets.
Develop and implement a model for food cost forecasting in international markets including limited time offers.
Interact with Little Caesars International purchasing to identify global sourcing and cost savings opportunities.
Assist in the development of targeted commodity food cost, including setting of yearly standards, monthly forecast updates and identifying potential risk factors.
Conduct supplier and commodity risk assessments, monitoring specific commodity market trends, developing technologies and supply/demand challenges.
Generate detailed contract balance report.
Work with the customer service team to achieve the highest customer satisfaction possible, including fill rates.
Responsible for departmental budgets and goals: coordinates with finance annual replenishment budget by line item including all capital expenditures.
Work with Blue Line distribution centers to improve and maintain high inventory turns improving operating efficiencies and lowering inventory carrying costs.
Ensure colleagues and business units adhere to legal and operational compliance requirements.
Implement departmental policies and procedures including but not limited to, settling safety stock (inventory level), procedure to procure inventory, method by which product is ordered.
Coordinates with other departments, such as, purchasing and logistics to analyze best procurement procedures, in order to achieve most efficient pricing and arranging of product deliveries.
Supplemental Job Functions
1.Participate in budgeting process for purchasing and supply chain management.
Minimum Knowledge, Skills and Abilities:
Bachelor's Degree in Supply Chain, Procurement or related discipline.
Minimum of seven (7) years of commodity purchasing experience, including but not limited to:
In depth understanding of raw material commodity markets;
Evidence of the ability to track and analyze current and historical buying performance to published ingredient markets;
Demonstrated experience in developing targeted commodity food cost, including setting of yearly standards, monthly forecast updates and identifying potential risk factors.
Demonstrated experience working with external financial and commodity counterparties.
Evidence of interpersonal skills and influencing abilities to positively affect results of cross-functional and internal teams.
Highly effective communication skills (verbal, written & presentation) with the ability to communicate technical data to a wide variety of audiences.
Evidence of highly developed analytical and problem-solving skills.
Highly motivated and efficient with demonstrated ability to drive measurable results.
Ability to apply sound business principles and practices to project management and change management processes.
Strong project management and organizational skills with evidence of ability to handle multiple, complex situations at once.
Preferred Knowledge, Skills and Abilities:
Masters of Business Administration or other relevant advanced degree.
Exposure or work experience with the quick service industry.
This position requires travel to supplier locations, trade shows and industry events, while adhering to the LCE travel policies.
Continuous contact with customers and suppliers
Continuous contact with multiple organizational levels and Ilitch companies