Vendor Manager

Role & responsibilities

Job Summary

The Vendor Manager is responsible for developing, managing, and optimizing relationships with third-party suppliers/vendors. They ensure vendors deliver products/services on time, within budget, and at agreed-upon quality standards. This role involves negotiation, performance evaluation, compliance monitoring, and strategic planning.

Key Responsibilities

1. Vendor Selection & Onboarding

   
   
• Identify, evaluate, and select potential vendors based on business needs.
  
• Conduct due diligence, including legal, financial, and performance checks.
  
• Facilitate vendor registration and onboarding processes.
  

2. Contract Management

   
   
• Negotiate terms, pricing, and service level agreements (SLAs).
  
• Draft, review, and manage vendor contracts and agreements.
  
• Ensure compliance with organizational procurement and legal policies.
  

3. Relationship Management

   
   
• Serve as the main point of contact between company and vendors.
  
• Foster long-term partnerships through clear communication and mutual goals.
  
• Resolve disputes or escalations in a timely and professional manner.
  

4. Performance Monitoring

   
   
• Monitor vendor performance using KPIs (e.g., delivery timelines, quality, cost-effectiveness).
  
• Conduct regular performance reviews and audits.
  
• Suggest corrective actions for underperforming vendors.
  

5. Risk & Compliance

   
   
• Ensure vendors adhere to legal and regulatory requirements.
  
• Conduct regular compliance audits.
  
• Manage risks related to supply chain interruptions or vendor insolvency.
  

6. Cost Control & Optimization

   
   
• Identify cost-saving opportunities without compromising on quality.
  
• Track vendor-related expenses and ensure budget compliance.
  

Key Skills and Competencies

• Strong negotiation and communication skills
  
• Analytical thinking and problem-solving
  
• Contract and legal understanding
  
• Vendor relationship and conflict management
  
• Strategic sourcing knowledge
  
• Financial acumen and cost analysis
  
• Proficiency in procurement software or ERP (e.g., SAP, Oracle)
  

Qualifications

• Bachelors degree in Business Administration, Supply Chain, Commerce, or related field
  
• MBA or certifications like CSCP, CPSM (preferred)
  
• 3–8 years of experience in vendor or procurement management (depending on seniority)