VP, Purchasing

Vice President Of Purchasing

The Vice President of Purchasing is a senior leadership role responsible for the strategic direction and oversight of all pharmaceutical procurement activities within the organization. This includes developing and implementing purchasing strategies for both brand and generic pharmaceuticals, medical supplies, equipment, managing vendor relationships, negotiating contracts, and ensuring an efficient and cost-effective supply chain. The VP of Purchasing will play a critical role in optimizing overall spend, ensuring product availability, and contributing to the overall financial health and operational excellence of the organization.

Responsibilities

• Develops and executes comprehensive purchasing strategies for brand and generic pharmaceuticals, aligning with organizational goals and market dynamics
• Leads the identification, evaluation, and selection of pharmaceutical suppliers and wholesalers
• Negotiates favorable terms, pricing, and contracts with manufacturers, wholesalers, and group purchasing organizations (GPOs)
• Monitors market trends, drug pipeline developments, and regulatory changes to proactively adjust purchasing strategies
• Oversees inventory management strategies to optimize stock levels, minimize waste, and ensure product availability across all pharmacy locations / operations
• Develops and manages the pharmaceutical purchasing budget, ensuring adherence to financial targets
• Identifies and implements cost-saving initiatives without compromising quality or patient care
• Analyzes purchasing data to identify trends, opportunities, and areas for improvement
• Manages drug formulary compliance and work with clinical teams to promote cost-effective therapeutic interchanges where appropriate
• Cultivates and maintains strong, collaborative relationships with key pharmaceutical manufacturers, wholesalers, and GPOs
• Serves as the primary point of contact for high-level vendor negotiations and issue resolution
• Collaborates effectively with internal stakeholders, including pharmacy operations, clinical leadership, finance, and legal departments
• Leads, mentors, and develops the purchasing team, fostering a culture of high performance, collaboration, and continuous improvement
• Establishes clear goals, performance metrics, and development plans for purchasing staff
• Ensures the purchasing team stays current with industry best practices, new product information, and regulatory requirements
• Ensures all purchasing activities comply with applicable federal and state laws, regulations, and industry standards (e.g., DSCSA)
• Develops and implement policies and procedures to mitigate risks associated with pharmaceutical procurement, including product shortages, recalls, and counterfeit drugs
• Maintains meticulous records of purchasing activities and contracts
• Supervisory Responsibility : Yes

Qualifications