1. Job Summary
The Vendor Management Manager is responsible for developing and managing strategic vendor relationships, ensuring supplier performance, optimizing procurement costs, mitigating vendor-related risks, and maintaining compliance with organizational policies. The role involves vendor selection, contract negotiation, performance monitoring, cost optimization, and continuous improvement of vendor management processes to ensure quality, timely delivery, and business continuity.
2. Key Responsibilities
A. Vendor Identification and Management
- Identify, evaluate, and onboard vendors based on business requirements, quality standards, cost, and service capabilities.
- Develop and maintain a qualified vendor database and preferred supplier network.
- Establish and maintain strong relationships with key vendors and strategic partners.
- Conduct vendor due diligence, background checks, and risk assessments.
- Periodically review vendor performance and recommend corrective actions.
B. Procurement and Cost Optimization
- Lead vendor negotiations to achieve competitive pricing, favorable payment terms, and improved service levels.
- Identify cost-saving opportunities through vendor consolidation, competitive bidding, and strategic sourcing.
- Monitor procurement expenditure against approved budgets.
C. Contract and SLA Management
- Manage vendor contracts, commercial terms, renewals, and amendments.
- Define and monitor Service Level Agreements (SLAs),
- Ensure compliance with contractual obligations and internal procurement policies.
- Coordinate with legal and finance teams on invoicing, payment terms, and dispute resolution.
- Maintain accurate records of contracts, pricing agreements, and vendor documentation.
D. Vendor Performance and Governance
- Track key performance indicators such as quality, delivery timelines, cost, responsiveness, and service compliance.
- Conduct periodic business reviews and vendor performance assessments.
- Address escalations, service failures, quality issues, and delivery delays.
- Implement corrective and preventive action plans to improve vendor performance.
E. Risk Management and Compliance
- Identify and mitigate vendor-related operational, financial, compliance, and reputational risks.
- Ensure adherence to company policies, applicable regulations, and audit requirements.
- Monitor vendor compliance with confidentiality, data protection, information security, and other relevant standards.
- Develop contingency plans and alternative sourcing strategies for critical vendors.
- Support internal and external audits related to procurement and vendor governance.
F. Stakeholder Management
- Collaborate with Finance, Legal, Operations, IT, HR, Facilities, and other business teams to understand vendor requirements.
- Coordinate with internal stakeholders to resolve procurement and supplier-related issues.
- Provide regular reports on vendor performance, expenditure, risks, and cost-saving initiatives.
- Support cross-functional projects involving vendor transitions, onboarding, and process improvements.
G. Team Leadership and Process Improvement
- Lead, mentor, and develop the vendor management team.
- Establish standardized vendor management policies, procedures, and workflows.
- Drive automation and process improvements across vendor onboarding, contract management, and performance tracking.
- Ensure timely completion of vendor reviews, renewals, and compliance activities.
3. Required Qualifications
- Bachelor's degree in Business Administration, Supply Chain Management, Finance, Operations, or a related field.
- MBA or postgraduate qualification in Supply Chain Management, Procurement, or Business Administration is preferred.
- 7–12 years of relevant experience in vendor management, procurement, sourcing, or supplier relationship management.
- Prior experience managing strategic vendors, commercial negotiations, contracts, and vendor performance.
- Experience leading teams and managing cross-functional stakeholders is preferred.
4. Required Skills
- Strategic sourcing and supplier relationship management
- Contract negotiation and commercial management
- Vendor risk assessment and compliance
- Cost optimization and budget management
- SLA, KPI, and vendor scorecard management
- Stakeholder and conflict management
- Analytical thinking and problem-solving
- Team leadership and decision-making
- Strong communication and negotiation skills
- Advanced Excel and reporting skills; experience with ERP, procurement, or vendor management systems.
5. Key Performance Indicators (KPIs)
- Vendor cost savings and cost avoidance
- Vendor SLA compliance and service quality
- On-time delivery and fulfillment rates
- Vendor onboarding turnaround time
- Contract renewal and compliance rates
- Vendor risk assessment and audit closure
- Invoice and payment dispute resolution time
- Vendor performance improvement
- Stakeholder satisfaction
- Procurement process efficiency
6. Expected Outcomes
- Build a reliable and cost-effective vendor ecosystem.
- Improve vendor service quality and operational efficiency.
- Strengthen contract governance and compliance.
- Reduce procurement costs and vendor-related risks.
- Establish measurable vendor performance standards.
- Improve stakeholder satisfaction and business continuity.
Pay: ₹35,000.00 - ₹70,000.00 per month
Benefits:
- Flexible schedule
- Paid sick time
- Paid time off
Work Location: In person
