Vendor Management Executive

Vendor Management:

A Vendor Manager, or Procurement Manager, represents your organization to vendors. The person in this position finds qualified distributors to meet your companys needs and negotiates contracts for services and/or supplies. They are also responsible for quality control and timely delivery of resources.

Vendor Manager duties and responsibilities

A Vendor Manager, or Purchasing Manager, is the link between your company and suppliers. Their duties include choosing vendors, signing for products or services and cultivating a positive working relationship with each off-site vendor. Additional responsibilities include:

• Negotiating contracts with suppliers
• Assessing the performance of vendors
• Maintaining sufficient inventory
• Routing supplies to appropriate departments
• Ensuring vendor compliance with company standards
• Managing vendor billing and disbursements
• Evaluating quality, price, reliability, technical support and availability of goods and services

Skills

Communication: Their ability to communicate effectively by acting as the bridge between the company and suppliers is paramount.

Analytical Prowess: A vendor manager analyses market trends, contract terms and vendor performances to derive actionable insights.

Problem-solving: Challenges are inevitable. A vendor manager’s aptitude for swift, effective problem resolution is a testament to their competence.

Technical Knowledge: A strong grasp of procurement processes, supply chain intricacies, and even digital tools employed in vendor management is crucial.

Relationship Management: Fostering and nurturing relationships is an art vendor managers master beyond mere communication.