Key Responsibilities and Required Skills for a Vendor Research Assistant

🎯 Role Definition

A Vendor Research Assistant is a foundational role within the procurement and supply chain ecosystem. At its core, this position is responsible for the critical task of identifying, gathering intelligence on, and evaluating potential and existing vendors to ensure the organization partners with the most reliable, cost-effective, and high-quality suppliers. This individual acts as an information hub, providing the data-driven insights that empower sourcing managers and procurement teams to make strategic decisions. The role combines meticulous research, data analysis, and administrative support to maintain a robust and competitive vendor landscape.

📈 Career Progression

Typical Career Path

This role is a fantastic launchpad for a career in the broader fields of supply chain management and strategic sourcing.

Entry Point From:

Administrative Assistant or Executive Assistant
Data Entry Clerk or Research Clerk
Junior Procurement Clerk
Recent Graduate (Business, Supply Chain, or related fields)

Advancement To:

Vendor Analyst or Sourcing Analyst
Procurement Specialist or Buyer
Supply Chain Coordinator
Contracts Administrator

Lateral Moves:

Market Research Analyst
Business Analyst
Compliance Assistant

Core Responsibilities

Primary Functions

Conduct comprehensive market research to identify, screen, and qualify potential new vendors, suppliers, and service providers based on predefined criteria such as cost, quality, reliability, and production capacity.
Maintain and continuously update a centralized vendor database or CRM system with accurate and detailed information, including contact details, product catalogs, pricing structures, and performance metrics.
Assist in the preparation and distribution of Request for Information (RFI), Request for Proposal (RFP), and Request for Quotation (RFQ) documents to prospective suppliers and track their responses.
Perform initial due diligence and background checks on potential vendors, including verifying business licenses, financial stability, certifications (e.g., ISO), and industry reputation.
Analyze and compare vendor proposals and quotations, creating detailed summary reports and comparison matrices to support the sourcing team's decision-making process.
Monitor industry trends, market dynamics, and commodity pricing to provide proactive insights and identify potential risks or opportunities in the supply chain.
Support the vendor onboarding process by collecting necessary documentation, such as W-9 forms, certificates of insurance, and signed supplier agreements.
Schedule and coordinate meetings, presentations, and site visits between internal stakeholders and potential or existing vendors.
Respond to inquiries from internal teams and external vendors regarding sourcing activities, vendor status, and procurement processes.
Track and report on key vendor performance indicators (KPIs), such as on-time delivery, quality compliance, and cost savings, to assist in supplier performance reviews.
Create and maintain detailed profiles for key suppliers, outlining their capabilities, historical performance, and relationship status with the organization.
Assist in resolving minor vendor-related issues, such as invoice discrepancies or delivery problems, by coordinating with accounts payable and logistics teams.
Generate regular and ad-hoc reports on sourcing activities, research findings, and vendor diversity statistics for management review.
Support the contract management process by tracking contract expiration dates, renewal terms, and compliance with contractual obligations.
Research and validate vendor credentials, including diversity classifications (e.g., minority-owned, women-owned businesses) to support corporate social responsibility goals.
Compile data and prepare presentation materials for supplier business reviews and sourcing strategy meetings.
Monitor news outlets and trade publications for information related to key suppliers or market shifts that could impact the supply chain.
Assist in evaluating supplier risk by gathering data on their geopolitical exposure, financial health, and operational stability.
Collaborate with the procurement team to ensure all research and vendor data is organized, accessible, and compliant with company policies.
Document and help refine internal research processes and best practices to improve team efficiency and the quality of vendor intelligence.

Secondary Functions

Support ad-hoc data requests and exploratory analysis related to vendor performance and market trends.
Contribute to the continuous improvement of the organization's vendor management and procurement strategies.
Collaborate with cross-functional teams, including procurement, legal, and finance, to gather requirements and ensure alignment on vendor selection.
Participate in team meetings and project planning sessions, providing updates on research progress and findings.

Required Skills & Competencies

Hard Skills (Technical)

Microsoft Office Suite: Advanced proficiency, particularly in Microsoft Excel for data manipulation, pivot tables, and creating comparison charts.
Online Research Skills: Expertise in using search engines, professional networks (like LinkedIn), and business directories to gather intelligence.
Data Analysis: Ability to collect, analyze, and synthesize data from various sources into clear, actionable reports.
Database Management: Experience with maintaining and updating databases or CRM systems with a high degree of accuracy.
Procurement Software: Familiarity with procurement or ERP systems (e.g., SAP Ariba, Coupa, Oracle) is a significant advantage.
Reporting & Visualization: Skill in creating clear, concise reports and presentations using tools like PowerPoint or basic BI software.
Procurement Process Knowledge: Basic understanding of sourcing concepts like RFI, RFP, and RFQ.
Typing and Data Entry: Fast and accurate keyboarding skills for efficient data input.
Financial Acumen: Basic ability to understand financial statements and assess a vendor's financial stability.
Communication Tools: Proficiency in using email, instant messaging, and video conferencing platforms for professional communication.

Soft Skills

Attention to Detail: Meticulous and thorough in all tasks, ensuring data accuracy and completeness.
Analytical Mindset: A natural curiosity and the ability to dissect information to find meaningful patterns and insights.
Organization & Time Management: Exceptional ability to prioritize multiple tasks, manage deadlines, and maintain order in a fast-paced environment.
Communication: Clear, professional, and concise written and verbal communication skills for interacting with internal teams and external partners.
Proactivity & Initiative: A self-starter who can work independently, anticipate needs, and take ownership of responsibilities.
Problem-Solving: The ability to identify issues, research solutions, and present recommendations effectively.
Collaboration & Teamwork: A cooperative spirit and the ability to work effectively with colleagues across different departments.
Adaptability: Flexibility to handle changing priorities and a willingness to learn new software and processes.

Education & Experience

Educational Background

Minimum Education:

High School Diploma or equivalent. An Associate's Degree in a relevant field is often preferred.

Preferred Education:

Bachelor’s Degree.

Relevant Fields of Study:

Business Administration
Supply Chain Management
Finance or Economics
Data Analytics or Research

Experience Requirements

Typical Experience Range:

1-3 years of experience in a role requiring research, data management, or administrative support.

Preferred:

Prior experience in a procurement, sourcing, or supply chain environment is highly advantageous. Internships or co-op experience in a relevant corporate function will also be strongly considered.