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The Vendor Manager will be responsible for overseeing all aspects of vendor relationships and ensure service excellence, including but not limited to optimize costs, reduces potential risks, and ensures high-quality service deliverability – all while managing relationships with dozens of vendors and suppliers. This individual will play a critical role in ensuring that our vendors meet our quality standards, deliver on time, and adhere to contractual obligations.
What’s the job?
- Contract Management: Managing the workflows for the entire contract lifecycle
- Creating and executing vendor contracts to maximize the operational and financial outcomes of the partnership, all while reducing financial risk.
- Performance Management: Monitoring and evaluating vendor performance. Set clear metrics & KPIs for service providers and clear standards for product suppliers.
- Relationship Management: Cultivate strong relationships with vendors through regular communication and collaboration. Serve as the primary point of contact for vendor inquiries and escalations.
- Risk Management: Identify and mitigate risks associated with vendor relationships or compliance concerns.
- Continuous Improvement: Proactively identify opportunities to optimize vendor relationships, streamline processes, and drive cost savings without compromising quality or service.
- Compliance: Ensure that vendors comply with all relevant regulations, industry standards, and company policies, such as data security, and ethical sourcing.
- Documentation: Maintain accurate records of vendor contracts, correspondence, and performance evaluations. Generate reports and analytics to track vendor performance and identify trends.
- Cross-functional Collaboration: Collaborate with internal stakeholders, including procurement, legal, finance, and operations teams, to support vendor-related initiatives and projects.
Have you done this kind of stuff?
- 3+ years of proven experience in vendor management, procurement or related roles
- Experience in negotiating contracts, managing vendor relationships, and evaluating supplier performance.
- Excellent communication and interpersonal skills to effectively interact with vendors, internal stakeholders, and colleagues.
- Analytical abilities to assess vendor performance, analyze contracts, and make data-driven decisions.
- Ability to oversee multiple processes effectively, in a fast-paced environment while meeting tight deadlines.
- Problem-solving skills to address issues that may arise with vendors.
- Knowledge of relevant regulations and compliance standards related to vendor management – An advantage.
- Familiarity and experience with vendor management systems – An advantage
- FinOps (Financial Operations) management skills and knowledge – An advantage.