Fairstead is seeking a Director of Procurement to lead procurement efforts for the organization. You will be responsible for overseeing and managing all procurement activities. Your main objective will be to ensure the procurement process is efficient, cost-effective, and aligns with the company’s strategic goals. You will collaborate with other departments to source, negotiate, and procure goods and services required for Fairstead’s operations. The successful candidate will have strong leadership skills, a deep understanding of procurement best practices, and the ability to drive continuous improvement.
As the Director of Procurement, you will be at the forefront of our strategic sourcing and procurement efforts, overseeing the entire procurement lifecycle, from identifying potential suppliers to contract negotiation and performance evaluation. Your keen eye for cost-saving opportunities and innovative procurement strategies will contribute directly to our bottom line, helping us maintain a competitive edge in the market.
- Develop and execute a comprehensive procurement strategy aligned with the company’s objectives, financial goals, and industry best practices. Identify policies and procedures to optimize the sourcing process, enhance supplier relationships and drive cost savings while maintaining company standards.
- Establish and nurture strong relationships with key suppliers to ensure a reliable and high-quality supply chain.
- Identify, evaluate, and engage with vendors and suppliers based on their reliability, quality, cost-effectiveness, and ability to meet the company’s targets and requirements.
- Implement best practices in supplier management, negotiating favorable terms and pricing on behalf of the company.
- Develop cost-saving initiatives and negotiate contracts to optimize procurement spend. Monitor market trends and pricing to mitigate cost fluctuations.
- Identify bulk purchasing opportunities and ensure all bulk purchasing programs are known and fully leveraged across applicable departments.
- Oversee the drafting, review, and management of procurement contracts to ensure compliance and risk mitigation.
- Identify potential risk in the supply chain, and implement risk management strategies to minimize disruptions, creating contingency plans for critical goods and services.
- Partner with Finance and other departments to establish and manage budgets, track expenses, and implement cost savings initiatives.
- Oversee the purchase order system including reviewing and approving all purchase orders and making sure purchase orders are closed out.
- Define and track key performance indicators and reporting to measure efficiency and effectiveness of the procurement functions.
- Bachelor’s degree in business, Supply Chain Management, or a related field.
- 10-15 years of progressive experience in procurement, with at least 5 years in a leadership role.
- Strong leadership, strategic thinking, and decision-making abilities, with a proven track record of driving successful procurement initiatives.
- Comprehensive knowledge of procurement best practices, sourcing strategies and supplier management.
- Excellent negotiation, contract management, and financial analysis skills.
- Ability to build and maintain strong relationships with suppliers, stakeholders, and internal teams.
- Data-driven and analytical mindset.
- Familiarity with procurement software and technologies for process optimization.
- Exceptional communication and presentation skills, with the ability to influence and engage at the executive level.
COMPENSATION AND BENEFITS
Compensation: $160,000- $175,000 + bonus eligible
Health Benefits: employer paid medical, dental and vision
DTO/Sick/Personal: Discretionary paid time off and sick time off
Generous holiday schedule, paid maternity leave
- Flexible Work Arrangements
- 401K Plan
- Flex Spending Accounts
- Life Insurance
- Commuter Benefits
- Long Term Disability
- Nationwide Pet Insurance
Fairstead is a purpose-driven real estate firm dedicated to building sustainable communities across the country. Headquartered in New York, with offices in Colorado, Florida, Maryland, and South Carolina, Fairstead oversees a $7.8 billion portfolio in assets and identified pipeline and owns and manages more than 24,000 apartments in 170 communities across 28 states. Fairstead’s commitment to communities is realized through a comprehensive platform that leverages in-house expertise in acquisitions, development, design and construction, marketing, and property management. Fairstead also implements some of the industry’s most proactive sustainability, resiliency, and community impact programs to foster positive social, economic, and environmental change. In 2022, the company launched Fairstead Ventures, a proptech investment initiative dedicated to fundamentally changing the standards in the housing industry with a focus on energy and decarbonization.
Fairstead’s primary mission is to provide high quality housing to all regardless of income, and to make our stakeholders feel “Right at Home.” We accomplish this through an empathetic and innovative approach, and by utilizing our interdisciplinary platform as an investor, developer, owner, and operator. Fairstead provides hands-on expertise across all multifamily disciplines, including acquisitions, development, design, construction, energy, sustainability, property management and social services. With a long-term commitment to its residents, communities, and partners, the Fairstead team stands out by:
- Listening to and understanding the needs of its residents, communities, partners, and stakeholders alike
- Developing and preserving high quality affordable housing in an innovative and sustainable fashion
- Creating a positive social and environmental impact within the properties and communities it serves
Fairstead’s Core Values