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Key Responsibilities and Required Skills for Vendor Officer

💰 $65,000 - $95,000

ProcurementSupply ChainOperationsVendor Management

🎯 Role Definition

As a Vendor Officer, you are the cornerstone of our supply chain and procurement ecosystem. You will be responsible for the entire vendor lifecycle, from strategic sourcing and rigorous evaluation to contract negotiation and performance management. Your mission is to build and maintain a network of reliable, high-performing partners that deliver exceptional value and align with our company's strategic goals. This position requires a unique blend of analytical rigor, negotiation prowess, and interpersonal finesse to mitigate risks, control costs, and foster collaborative relationships that drive mutual success. You will serve as the central point of contact, ensuring seamless communication and alignment between our internal teams and external suppliers.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Procurement Coordinator or Assistant
  • Junior Buyer
  • Supply Chain Analyst
  • Contracts Administrator

Advancement To:

  • Senior Vendor Manager
  • Procurement Manager
  • Category Manager
  • Supply Chain Manager

Lateral Moves:

  • Contracts Manager
  • Sourcing Specialist
  • Operations Analyst

Core Responsibilities

Primary Functions

  • Develop and execute comprehensive sourcing strategies to identify, evaluate, and select new vendors based on rigorous criteria including cost, quality, reliability, and service.
  • Lead the end-to-end vendor onboarding process, including conducting thorough due diligence, risk assessments, and background checks to ensure compliance with company policies and regulatory requirements.
  • Negotiate favorable terms, pricing, and Service Level Agreements (SLAs) with new and existing vendors to achieve significant cost savings and maximize value for the organization.
  • Act as the primary point of contact for all vendor-related communications, fostering strong, collaborative relationships to drive performance and innovation.
  • Manage the entire vendor lifecycle, from initial contract to renewal or termination, ensuring seamless transitions and minimal disruption to business operations.
  • Develop, implement, and maintain a robust vendor performance management framework, utilizing scorecards, key performance indicators (KPIs), and facilitating regular business reviews (QBRs).
  • Proactively monitor, track, and analyze vendor performance against contractual obligations and SLAs, identifying and addressing any deviations or issues in a timely manner.
  • Conduct in-depth market research and analysis to stay abreast of industry trends, emerging suppliers, and pricing benchmarks to inform sourcing and negotiation strategies.
  • Collaborate closely with internal stakeholders across various departments (e.g., Legal, Finance, IT, Operations) to understand their requirements and ensure vendor solutions align with business objectives.
  • Manage and resolve all vendor-related escalations, disputes, and conflicts, acting as a mediator to find mutually acceptable solutions.
  • Maintain a centralized and accurate repository of all vendor contracts, documentation, and performance data within the vendor management system.
  • Identify, assess, and mitigate potential risks within the supply chain, developing contingency plans to ensure business continuity.
  • Drive continuous improvement initiatives within the procurement and vendor management process to enhance efficiency, reduce costs, and improve service quality.
  • Prepare and present detailed reports and dashboards on vendor performance, spend analysis, and risk exposure to senior management.
  • Ensure all vendor activities and contracts are in strict compliance with company policies, ethical standards, and legal/regulatory frameworks.
  • Lead and manage the Request for Proposal (RFP), Request for Quotation (RFQ), and Request for Information (RFI) processes from creation to final vendor selection.
  • Oversee the vendor payment and invoicing process in collaboration with the Finance department to ensure accuracy and timeliness.
  • Facilitate regular vendor audits to verify compliance with contractual terms, security protocols, and quality standards.
  • Champion supplier diversity initiatives by actively identifying and engaging with diverse and small business suppliers.
  • Serve as a subject matter expert on vendor management best practices, providing guidance and training to other team members and business units.
  • Analyze spend data to identify opportunities for vendor consolidation, cost reduction, and strategic sourcing.
  • Coordinate the offboarding process for terminated vendor relationships, ensuring all data is retrieved, access is revoked, and final payments are settled correctly.

Secondary Functions

  • Support ad-hoc reporting and analysis on vendor spend, performance, and market trends.
  • Contribute to the organization's broader procurement and vendor management strategy.
  • Collaborate with internal departments (e.g., Finance, Legal, IT) to translate business needs into clear vendor requirements.
  • Participate in cross-functional project teams to provide procurement and vendor expertise.

Required Skills & Competencies

Hard Skills (Technical)

  • Vendor Management Systems (VMS): Proficiency in e-procurement platforms like SAP Ariba, Coupa, or Oracle.
  • Contract Management: Deep understanding of contract law, terms, and lifecycle management.
  • Strategic Sourcing: Expertise in procurement methodologies, including RFx processes and category management.
  • Financial Acumen: Strong ability to perform cost-benefit analysis, analyze pricing models, and manage budgets.
  • Data Analysis & Reporting: Advanced skills in Excel and experience with BI tools (Tableau, Power BI) for creating insightful reports.
  • Risk Assessment: Competency in identifying, evaluating, and mitigating supply chain and third-party risks.

Soft Skills

  • Negotiation & Persuasion: Proven ability to negotiate effectively and influence outcomes with both internal and external stakeholders.
  • Relationship Management: Exceptional interpersonal skills to build and maintain strong, productive partnerships.
  • Communication: Excellent written and verbal communication skills, with the ability to present complex information clearly to diverse audiences.
  • Analytical & Strategic Thinking: Ability to see the bigger picture, analyze data to uncover insights, and formulate long-term strategies.
  • Attention to Detail: Meticulous and highly organized, capable of managing complex documentation and multiple priorities simultaneously.
  • Problem-Solving: Proactive and resourceful in identifying issues and developing effective solutions.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree

Preferred Education:

  • Master’s Degree (MBA) or a professional certification such as Certified Professional in Supply Management (CPSM) or Certified Third-Party Risk Professional (CTPRP).

Relevant Fields of Study:

  • Business Administration
  • Supply Chain Management
  • Finance or Economics
  • Law

Experience Requirements

Typical Experience Range: 3-5 years of relevant experience in procurement, vendor management, or supply chain.

Preferred: Direct experience in a dedicated vendor management role with a proven track record of managing strategic supplier relationships, negotiating complex contracts, and achieving cost savings.

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