2024 Summer Intern - Procurement
As a privately-owned, biopharmaceutical company, Ferring pioneers and delivers life-changing therapies that help people build families and live better lives. Our independence helps us cultivate an entrepreneurial spirit and long-term perspective that enables us to achieve growth and scale, while remaining agile and true to our ‘people first’ philosophy. Built on a 70-year plus commitment to science and research, Ferring is relentless in its pursuit of science that drives powerful discoveries and therapies to help people build families, stay healthy, and stand up to the world’s oldest enemy: disease.
As the 2024 Summer Intern – Procurement you will gain exposure to and support involvement in “Indirect” Procurement categories such as: Marketing, Data/Analytics, HR Services, Engineering & Maintenance Services and R&D/Lab Services, while developing a strong professional skill set. The US Procurement Team provides a centralized structure and consistent approach to Ferring’s Sourcing and Purchasing process. The team’s focus is delivering a “Best-in-Class” procurement process and to assist the company with meeting its business and growth goals. The team works with business stakeholders and provides strategic value by assisting with financial planning and analysis, discussing key projects and forecasting business requirements for categories of spend in scope. Procurement works to establish preferred supplier lists (PSLs) to simplify the sourcing process for the stakeholders and collaborates with the stakeholders to define the criteria to be included in the scorecards for evaluating RFP responses and pitches. Procurement monitors the industry to gather intelligence, identify best-in-class suppliers and methods, and recommend service providers that specialize in specific sub-categories. Procurement also negotiates commercial and legal conditions for contracts and scopes of work.
With Ferring, you will be joining a recognized leader, identified as one of “The World’s Most Innovative Companies” by Fast Company, and honored by Fortune with inclusion on its “Change the World List,” for addressing society’s unmet needs. Ferring US is also Great Places to Work® Certified, distinguishing it as one of the best companies to work for in the country.
Research and deliver current trends in the market, cost modeling, benchmarking
Research and Identification of Specific US Procurement Categories
Complete Category and Supplier Assessments
Conduct analysis on categories identified in COUPA by Ferring entity
Perform Supplier evaluations
Review of payment terms, supplier activity, cost analysis, etc.
Assist with Supplier segmentation opportunities.
Support team Contract compliance by identifying contract gaps and/or renewals.
Support E-Sourcing/Request for Proposals (RFP)
Assist with identifying high risk suppliers and assist with the development of mitigation analysis and plan
(Preferably) Undergraduate Business Major with areas of focus in Procurement, Supply Chain, Marketing, Professional Service (HR, Legal), Finance or Manufacturing. Exposure to performing analysis and benchmarking. Interest in Negotiating, Risk Management and Supplier Relationship Management.
High-level of professionalism and enthusiasm
Strong Communication skills, both oral and written
Experience with MS Office, Word, Excel and PowerPoint
Quick Study on various systems
Keen attention to detail
Strong organization skills, with the ability to stay focused on assigned tasks
Willingness to learn and engage in a variety of support roles
This role is expected to work no less than three days at our site in Parsippany, New Jersey, on days in conjunction with your assigned team; you may be able to work two days per week remotely. This role may also be eligible for Ferring Summer Fridays, where meetings and most work commitments end by 1 PM each Friday.
Standard requirements for all intern positions:
- Ability to complete the entire 10-week program (from May 28, 2024 to August 2, 2024) and commit to 37.5 hours per week
- Cumulative 3.0 GPA or above; college transcript required
- Currently enrolled in an accredited college/university for undergraduate, graduate or PharmD program
- Must be legally authorized to work in the U.S. Ferring cannot sponsor work visas for summer interns
- At least 18 years of age prior to the scheduled start date
- Pass a drug screen and background check prior to start date
- Virtual interviews with HR and hiring manager
- Final presentation to manager & department team members at the end of the 10-week program (mandatory)
- Must apply to online job posting and provide resume & cover letter
- Application deadline is Thursday, February 29, 2024
Ferring + you
At Ferring, we offer competitive total compensation along with an exceptional range of flexible benefits, personal support and tailored learning and development opportunities all designed to help you realize your full potential both in life and at work. From working hours that respect your lifestyle, a culture that is welcoming and equitable, and the chance to work with the industry’s most impressive people, these are just some of the ways we live our "People First" philosophy.
Our Compensation and Benefits
At Ferring, base pay is one part of our competitive total compensation and benefits package. The hourly rate for undergraduate interns is $20 per hour and the hourly rate for graduate students is $25 per hour.
This internship role is for the specific date range of May 28, 2024 to August 2, 2024. You will be eligible for any company-paid holidays that occur during that range.
During the internship, you will accrue sick time. However, use of this accrued sick time must occur after you have worked for Ferring for 120 consecutive days in 2024.
As a summer intern, you are ineligible for other Ferring benefits, comprehensive healthcare (medical, dental, and vision); a 401k plan and company match; short and long-term disability coverage; basic life insurance; wellness benefits; reimbursement for certain tuition expenses; and paid vacation time. You are also ineligible for pay of Company holidays that occur before or after the internship, should your internship be extended to part-time status.
Ferring is an equal opportunity employer. All aspects of employment will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of gender, race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local laws.
Join our team and your voice will be heard, and your contributions will be valued. If you love to come up with new ways to make a positive difference and see them through, you will fit right in.
We are proud to be an Affirmative Action/Equal Opportunity Employer (including Disability/Protected Veterans). We maintain a drug-free workplace.