Main Responsibilities and Required Skills for Vendor Manager
A Vendor Manager is a professional responsible for managing relationships with a company's suppliers or vendors. They oversee the procurement of goods and services from external suppliers, negotiate contracts, monitor supplier performance, and ensure that the organization receives high-quality products and services at a fair price. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Vendor Managers.
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Main Responsibilities of Vendor Manager
The following list describes the typical responsibilities of a Vendor Manager:
Achieve
Achieve the best outcomes on Customer Experience.
Address
Address vendor issues to ensure the highest level of service delivery.
Adjust
Adjust positively to quickly-changing priorities and shifting goals.
Advise
Advise on interpretation of policy, procedure and legislation.
Advocate
Advocate and evangelize the Customer Success Support organization.
Analyze
Analyze key trends in global supply and industry analysis.
Answer
Answer phones & direct calls to appropriate person.
Articulate
Articulate understanding of contracts.
Assist
Assist design partners with technical guidance on design practices and standards.
Assist with transition in and out with new Vendors.
Audit
Audit contractual compliance, solicits feedback from users, and communicates scorecards to vendors.
Build
Build and develop close working relationships with our partners.
Build and maintain features in our core platform for managing tenancy life cycles.
Build and maintain strong client and suppliers relationships.
Build strong relationships across the Digital groups to understand their needs.
Collaborate with
Collaborate with internal stakeholders such as BD, Legal, Finance.
Collaborate with internal stakeholders such as IT, Legal, Finance.
Collaborate with Legal for review / approval of new agreement execution.
Communicate with
Communicate and collaborate with both technical and non-technical professionals.
Communicate with senior management team regarding vendor performance and relationships.
Conduct
Conduct market analysis and identifies trends in the technology industry.
Conduct market intelligence to identify opportunities and channel innovation.
Conduct monthly service-related meetings with all parties.
Conduct SLO field enablement / training for partners, suppliers, and customers.
Consult
Consult peers as appropriate.
Coordinate
Coordinate and provides support to the Enterprise Vendor Manager as required.
Coordinate effort to deliver and implement end-to-end solutions with various stakeholders.
Coordinate financial forecast processes with Finance.
Coordinate with ITS team to optimize VMC spend.
Create
Create and maintain new vendor accounts within our systems.
Create new vendor accounts within our systems.
Create purchase requisitions for internal customers across many different spend categories.
Create, review with leadership, and maintain quarterly strategy reporting.
Define
Define and maintain metrics to measure vendor performance.
Deliver
Deliver an exceptional customer experience through exceeding KPIs effectively.
Develop
Develop analysis providing spend insight trends and opportunities.
Develop and lead monthly and annual business reviews.
Develop and lead ongoing continuous improvement initiatives to improve quality and cost.
Develop and maintain performance scorecards.
Develop and maintain supplier relationships.
Develop best procurement practices to lead and manage procurement teams.
Develop, formalize and direct relationships with Technology vendors.
Develop framework for interactions between the vendor and the business.
Develop high impact presentations and Excel analysis consistent with company branding requirements.
Develop, implement and maintain a continuous Service Improvement Plan for key IT vendors.
Develop knowledge of supply / demand trends and success drivers of your category.
Develop relationships with client business units to become a trusted business partner.
Develop routine quality performance monitoring of resources and provide feedback where required.
Devise
Devise an end-to-end solution to meeting industry standards and business needs.
Drive
Drive and sustain market intelligence on vendors, capabilities and offerings.
Drive increase in payment terms among suppliers.
Drive monthly governance with head of Finance and executive.
Drive overall improvements to the Outdoor Apparel customer experience.
Drive productivity improvement across the organization.
Drive vendor selection process partnering with the business in-line with policies and procedures.
Enhance
Enhance and extend a growing ecosystem of vendors, large and small.
Ensure
Ensure a constant state of "inspection readiness” for sourced activities and vendor responsibilities.
Ensure records retention & documentation.
Ensure supporting documentation is "audit ready” to meet client's quarterly audit cycle deliverables.
Ensure the development and maintenance of proper record keeping and documentation.
Ensure the portfolio's budget targets are met and actively seek ways to reduce property costs.
Establish
Establish and manage a controlled environment that ensures effective and efficient processes.
Establish and put in place SLA (Service Level Agreement) with customers and suppliers.
Establish long term Category strategy.
Establish relationships and negotiate agreements / deals with leading manufacturers and brands.
Execute
Execute and lead projects to more efficiently source stock, manage prices, execute promotions.
Execute on strategic vision for the Vendors and their performance.
Forecast
Forecast and track key metrics to support.
Formulate
Formulate and implements category strategies.
Greet
Greet clients in reception area and perform registration.
Guide
Guide and coach employees on best-practices.
Guide the purchasing of products or services for the department.
Help
Help facilitate third party vendor decisions and solicit regular feedback from end-use.
Help negotiate complex usage based contracts.
Hold
Hold vendors accountable for reaching and maintaining required headcount to meet SLAs.
Identify
Identify and conduct cross-functional cost reduction initiatives on sourced products and services.
Identify 3rd Party Vendors that can solve Roger's challenges.
Identify and conducts cross-functional cost reduction initiatives on sourced products and services.
Identify and deliver benefits and opportunities.
Identify any reasons for failure of an SLA and implement solutions.
Identify, forecast, track and deliver on Vendor needs within the organisation.
Identify resource gaps and proactively recruit specialists to expand our talent pool.
Identify vendor options & work to implement / discuss / negotiate agreement terms.
Implement
Implement programs to improve service speed, accuracy, quality, and client satisfaction.
Implement remediation actions with our Partners when needed.
Innovate
Innovate to improve efficiency and overall business impact.
Integrate
Integrate strong and clear analysis and business rationale into sound decision making.
Lead
Lead data-driven root cause analysis for variances in operational performance.
Lead formal Governance reviews with the key partners in your region on a regular basis.
Lead governance meetings and drives adherence to charters and standing agendas.
Lead projects involving cross-functional teams and our partners.
Lead strategic negotiation.
Liaise with
Liaise with other procurement teams as required.
Maintain
Maintain and updates purchasing orders, systems, and documentation.
Maintain positive morale and demonstrate team spirit.
Maintain relationships with vendors and LOB or ECF as required.
Maintain the Vendor database and ensure it is kept up to date.
Manage
Manage all vendor escalations to drive the resolution of the problem.
Manage audits with our premier credit card partner.
Manage contract execution (claims / warranties / payment terms).
Manage escalation and arbitration of relationship and operational issues if other avenues fail.
Manage internal and supplier escalation process.
Manage multi-million dollar budget by optimizing CAPEX and OPEX expenses.
Manage performance, and mitigates risk for assigned vendors that may vary in risk and complexity.
Manage procurement processes, including RFP, RFQ and RFI execution.
Manage relationships with key stakeholders.
Manage small project teams and contractors as needed to delivery desired solutions.
Manage special projects as requested.
Manage strategic relationship (s) with key TD business management and executive teams.
Manage the addition and removal of vendors under the terms of our agreements.
Manage third party TAM and AM resources and act as single point of contact for Rogers.
Meet
Meet assigned financial & operational targets.
Meet or exceed KPI's for conversion, opportunities, pipeline, revenue and service level agreements.
Monitor
Monitor and report on performance and quality metrics for agents and vendors.
Monitor and validated usage based invoices and continually update usage forecasts.
Monitor and validate invoices and continually keep track of usage forecasts.
Monitor discount level based on actual spend tracking.
Monitor the cost, schedule and performance metrics of contracts and subcontracts.
Monitor transaction metrics that drive variable costs.
Negotiate
Negotiate and manage the contract commitments made with our suppliers.
Negotiate rates with suitable vendors and maintain database and ensure it is always up to date.
Onboard
Onboard new dealers to distribute products.
Operationalize
Operationalize vendor / contracts into business processes.
Oversee
Oversee the management of IT contracts to ensure cost, service and quality requirements are met.
Oversee the implementation of a large project and new initiatives.
Own
Own daily and weekly vendor performance and KPI management.
Participate
Participate actively in weekly Projects Review Meeting.
Participate and support the negotiation and contracting process in collaboration with SSG.
Participate in the coordination of new vendor onboarding, as well as vendor off-boarding.
Perform
Perform all duties related with state of the art Supplier Relationship Management.
Perform analysis of supplier spend data and process metrics to proactively recommend improvements.
Perform invoice analysis to ensure we are charged according to agreements and vendors are paid.
Provide
Provide expert recommendations to internal stakeholders.
Provide feedback to stakeholders and management regarding status of projects and initiatives.
Provide leadership in developing key, long-term supply contracts to achieve continuous improvement.
Provide management with economic impact and compliance issues surrounding key business decisions.
Provide regular oversight / performance management of Specialty control accounts and MGA partners.
Provide relevant feedback and information about the relationship.
Provide sourcing, costs, resources and other related KPIs to PV Leadership team and key stakeholders.
Provide support and guidance to the business on third-party engagements.
Provide valuable input into a long-term resource plan for customer service delivery.
Provide vendor reporting and assist in the delivery of services to the workplace management team.
Recommend
Recommend performance improvement opportunities with to partners and internal Service Owners.
Recommend modifications to accommodate regulatory, legislative or industry changes.
Redline
Redline and negotiate contracts to mitigate risks.
Resolve
Resolve any escalated issues, and coordinate with other departments as needed.
Review
Review achievement of performance goals and objectives against partner contracts.
Review contracts and possess knowledge of purchasing contracts and contract terminology.
Review purchase requests for completeness and compliance with company requirements.
Review Service Level compliance.
Set
Set goals, lead, and direct to accomplish goals and objectives established by management.
Stay abreast of
Stay abreast of contract and purchasing compliance and routinely informs Technology's customers.
Strive
Strive to exceed targets and empower our customers and partners.
Support
Support daily work shifts during business days.
Support Planning and monitoring processes.
Support the cost savings strategies and initiatives to achieve financial and productivity objectives.
Support the cost-saving strategies and initiatives to achieve financial and productivity objectives.
Support the delivery of financial benefits through coordinated vendor.
Support the generation of value for money for both the organisation and the supplier.
Support vendor escalations, and lead corrective action plans.
Track
Track and manage project deliverables.
Track average buy rates & gross profit margins.
Track, communicate, and aid in resolution of problem parts due to vendors.
Track orders from initial request to delivery and confirmation.
Track parts orders and delivery to the store.
Track Success rates and report updates as required.
Verify
Verify accuracy of orders and contracts.
Work with
Work closely with Localisation line manager to support exceptional recruitment needs.
Work closely with the manufacturing team to assess internal needs and vendor performance.
Work collaboratively with our partners to ensure contractual SLA's are met.
Work with finance and the client to develop budgets, forecasting and financial reporting.
Work with stakeholders to design and agree service protection strategies.
Most In-demand Hard Skills
The following list describes the most required technical skills of a Vendor Manager:
Vendor Management
Business
Customer Care
Most In-demand Soft Skills
The following list describes the most required soft skills of a Vendor Manager:
Written and oral communication skills
Analytical ability
Problem-solving attitude
Interpersonal skills
Organizational capacity
Negotiation
Time-management
Attention to detail
Presentation
Multi-task
Planning
Self-starter
Leadership
Organized
Detail-oriented
