Executive Vendor Development | Varuna

As an Executive in Vendor Development, you will play a crucial role in establishing and maintaining strong relationships with suppliers and vendors. This position involves strategic vendor selection, negotiation, and collaboration to ensure the procurement of quality goods or services that meet the company's requirements. The Executive in Vendor Development contributes to the overall efficiency and success of the supply chain.Responsibilities : Vendor Identification and Evaluation : Identify potential vendors through market research and networking.Evaluate and assess potential vendors based on criteria such as quality, cost, and reliability.Negotiation and Contracting : Negotiate terms and conditions with vendors to secure advantageous agreements.Draft and review contracts, ensuring compliance with legal and company requirements.Cost Analysis : Conduct cost analysis and price negotiations to achieve cost savings.Collaborate with vendors to optimize pricing structures and ensure competitive rates.Quality Assurance : Collaborate with quality assurance teams to establish and maintain quality standards.Monitor and assess vendor performance in terms of product/service quality.Relationship Management : Build and maintain strong relationships with key vendors and suppliers.Address and resolve any issues or conflicts that may arise during the vendor relationship.Vendor Performance Metrics : Establish and monitor key performance indicators (KPIs) for vendor performance.Implement metrics to measure factors such as on-time delivery and product/service quality.Market Trends and Analysis : Stay informed about market trends, industry developments, and emerging technologies.Use market intelligence to make informed decisions in vendor selection and development.Collaboration with Internal Teams : Collaborate with internal teams, including procurement, logistics, and quality assurance.Communicate effectively to ensure alignment with company goals and standards.Continuous Improvement : Identify opportunities for process improvement in vendor management.Implement best practices to enhance the efficiency of the vendor development process.Documentation : Maintain accurate and up-to-date records of vendor contracts, agreements, and communications.Ensure compliance with documentation standards and record-keeping requirements.