Ted Smith

Background

About Ted Smith

Experienced procurement professional with a history of working in manufacturing and retail. Skilled in leading procurement transformation, strategic sourcing, change management, and spend optimization. With 15+ years of experience, I excel in driving cost optimization and process improvements across the procurement lifecycle. I lead strategic sourcing initiatives, negotiate high-impact supplier contracts, and consistently deliver savings. My expertise in managing sourcing functions ensures alignment with organizational goals, optimizing operational efficiency and generating significant financial impact. Specializing in indirect sourcing, I have transformed procurement infrastructures and led initiatives that have consistently achieved $10M+ annual savings. I excel in negotiating supplier contracts, improving cash flow through payment terms, and enhancing supplier diversity. My ability to leverage market insights and performance metrics ensures the effective sourcing of goods and services to support business operations. I am a dedicated enterprise leader with a proven ability to develop high-performing teams and drive organizational success. By fostering collaboration and continuous improvement, I guide teams through complex challenges, ensuring alignment with business objectives. My leadership focuses on mentorship, enabling teams to grow professionally while achieving sustainable results for the enterprise. Reengineered Sourcing Infrastructure: Modernized Giant Eagle’s procurement infrastructure for indirect goods, delivering $10M+ in annual P&L impact. Optimized Cash Flow: Introduced a discounting platform that generated $4M in cash discounts in the first year. Built Supplier Diversity Program: Established a supplier diversity program, increasing spend with diverse suppliers through strategic goal-setting. Streamlined Procurement Policies: Implemented procurement policies and a contract signing authority matrix governing $1B+ in annual spend. Improved Contract Management: Deployed a SharePoint-based contract management system for 1,700 contracts, improving compliance and efficiency. Led Utility Hedging Strategy: Managed $58M annual budget for natural gas and electricity sourcing, driving risk mitigation and cost control through strategic hedging.