Vendor Development Executive

Role Overview:
The Vendor Development Executive will be responsible for identifying, evaluating, and developing suppliers to ensure timely procurement of quality materials and services at competitive prices. The role involves building strong vendor relationships, negotiating contracts, and supporting continuous improvement in the supply chain.Key Responsibilities:Identify, evaluate, and onboard new vendors/suppliers based on business requirements.Maintain and strengthen relationships with existing vendors to ensure consistent supply and service levels.Negotiate prices, terms, and contracts to achieve cost savings and favorable conditions.Conduct vendor audits and assessments for quality, reliability, and compliance.Collaborate with production, quality, and finance teams to align procurement with business needs.Monitor vendor performance (delivery timelines, quality standards, and service levels) and implement corrective actions when required.Maintain vendor database, contracts, and performance records.Support cost reduction, localization, and vendor development initiatives.Stay updated with market trends, alternative sourcing options, and new supplier opportunities.Ensure adherence to company procurement policies, quality standards, and regulatory compliance.