Matthew Rice
About Matthew Rice
Matthew Rice serves as the Sr. Director of Purchasing & Supply Chain at Karma Automotive, where he has worked since 2022. He has extensive experience in supply chain management across various industries, including automotive, and has held senior roles at several companies.
Work at Karma Automotive
Matthew Rice has been serving as the Senior Director of Purchasing & Supply Chain at Karma Automotive since 2022. He is based in Irvine, California, and has held this position for two years. In this role, he oversees the purchasing and supply chain operations, focusing on enhancing efficiency and cost-effectiveness within the organization.
Previous Experience in Supply Chain Management
Prior to his current role, Matthew Rice worked at several notable companies in the supply chain and purchasing sectors. He was the Senior Purchasing Manager at Faraday Future for nine months in 2021. He also held the position of Senior Director of Purchasing, Direct Materials at Federal-Mogul Powertrain from 2011 to 2015. Additionally, he served as the Senior Buyer at Jay Packaging Corp and as the Senior Purchasing Manager at SSAB.
Education and Expertise
Matthew Rice studied Business Administration at Campbell University, where he earned both an Associate of Arts and a Bachelor of Business Administration. He also completed an Executive Certificate in Management and Leadership from the MIT Sloan School of Management. His educational background complements his expertise in supply chain, purchasing, sourcing, and logistics across various industries.
Achievements in Strategic Sourcing
Matthew Rice has implemented a 7 Step Strategic Sourcing and Procurement process aimed at improving communication among Executive Leadership, Engineering, and Finance teams. He utilizes Should Cost modeling to negotiate supplier contracts, which enhances supplier performance and cost efficiency. His leadership has led to significant savings through various cost reduction programs.
Track Record of Success
Matthew Rice has a proven track record of exceeding goals in productivity, inventory reduction, lead time reduction, and price reductions. He has successfully led cross-functional teams to achieve multi-million dollar savings, demonstrating his effectiveness in driving cost efficiency and operational improvements.