I went through all of this a few years back. Unfortunately the only way to really jump up in pay is to change companies. Staying to long at one place as I did for over twenty years really stifled my compensation. Jumping ship bumped me up over 20% in one step and my pay increased at a much faster pace over the next several years.
I used to be in strategic sourcing as well. I decided to jump to sales and discovered sales is a much less miserable job and much more lucrative. In sourcing I discovered if you do well with savings and cost avoidance one year, they would change definitions each subsequent so as to make it impossible to reach bonus targets. For some reason management hates paying purchasing for a job well done, but they are so afraid of losing salespeople, that take care of us much better