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Key Responsibilities and Required Skills for a Vendor Research Technician

💰 $45,000 - $65,000

ProcurementSupply ChainData AnalysisResearch

🎯 Role Definition

The Vendor Research Technician is a pivotal support role within the procurement and supply chain ecosystem. This individual acts as an information specialist, systematically gathering, verifying, and maintaining critical data on potential and existing vendors. Their work directly enables the organization to make informed, strategic, and cost-effective sourcing decisions, mitigate supply chain risks, and build strong supplier relationships. Success in this role requires a unique blend of analytical rigor, meticulous research skills, and effective communication to bridge the gap between business needs and market opportunities.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Research Assistant
  • Data Entry Clerk
  • Administrative or Procurement Assistant

Advancement To:

  • Procurement Specialist or Sourcing Analyst
  • Vendor Manager
  • Supply Chain Analyst

Lateral Moves:

  • Data Analyst
  • Contracts Administrator

Core Responsibilities

Primary Functions

  • Conduct comprehensive market research to identify, evaluate, and qualify potential new vendors, suppliers, and service providers based on predefined criteria such as cost, quality, reliability, and strategic fit.
  • Maintain and continuously update the master vendor database with accurate and detailed information, including contact details, product catalogs, pricing structures, and performance metrics.
  • Perform in-depth due diligence on prospective vendors, including financial stability checks, background screenings, and verification of certifications and compliance standards (e.g., ISO, SOC 2).
  • Analyze and compare vendor proposals, quotes, and service level agreements (SLAs) to provide clear, data-driven recommendations to procurement and sourcing managers.
  • Develop and manage a central repository of vendor documentation, including contracts, NDAs, insurance certificates, and compliance forms, ensuring all records are current and accessible.
  • Monitor existing vendor performance against contractual obligations and key performance indicators (KPIs), flagging any deviations, non-compliance, or risks for management review.
  • Generate and present regular reports on vendor landscapes, market trends, pricing benchmarks, and supplier risk assessments to inform strategic sourcing decisions.
  • Collaborate with cross-functional teams, including procurement, legal, IT, and finance, to ensure vendor selection and data management align with departmental and organizational objectives.
  • Assist in the Request for Proposal (RFP), Request for Quotation (RFQ), and Request for Information (RFI) processes by gathering business requirements and compiling necessary background documentation.
  • Respond to internal stakeholder inquiries regarding vendor capabilities, status, and contact information, acting as a central point of contact for all vendor-related data.
  • Utilize various research tools, online databases (e.g., Dun & Bradstreet, Thomasnet), and industry publications to gather competitive intelligence and stay abreast of emerging technologies and suppliers.
  • Track and document all key vendor communications, negotiation outcomes, and onboarding activities within the company's Vendor Management System (VMS) or CRM.
  • Support the complete vendor onboarding lifecycle by collecting required paperwork, setting up new vendors in financial systems, and communicating initial requirements and company policies.
  • Conduct periodic audits of the entire vendor portfolio to identify opportunities for supplier consolidation, cost savings, and process improvement.
  • Prepare detailed profiles and summary reports on shortlisted vendors, often including a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) for executive review.
  • Investigate and resolve data discrepancies within vendor records, working with internal teams and external suppliers to ensure absolute data integrity.
  • Monitor industry news, press releases, and financial alerts for events that could impact key suppliers, such as mergers, acquisitions, or financial distress, and report findings proactively.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis to answer specific business questions related to the supply chain and vendor performance.
  • Contribute to the continuous improvement of vendor research methodologies, data collection processes, and reporting templates.
  • Collaborate with business units to translate their specific vendor and material needs into tangible research and sourcing requirements.
  • Participate in sprint planning and agile ceremonies within the data and procurement teams to ensure alignment with broader organizational goals.
  • Assist in training internal stakeholders on how to effectively use the vendor management system and access relevant supplier information.
  • Provide administrative support to the sourcing and procurement team as needed, including scheduling meetings and preparing presentation materials.

Required Skills & Competencies

Hard Skills (Technical)

  • Advanced MS Excel Proficiency: Demonstrable skill in using functions like VLOOKUP, HLOOKUP, pivot tables, and data sorting/filtering for analysis and reporting.
  • Database Management: Experience with data entry and maintenance in CRM, ERP, or dedicated Vendor Management Systems (VMS) with a high degree of accuracy.
  • Online Research Expertise: Mastery of advanced search engine techniques and familiarity with professional networks (LinkedIn) and business intelligence databases.
  • Procurement Software Familiarity: Experience with or ability to quickly learn procurement platforms such as Coupa, SAP Ariba, Jaggaer, or Oracle Procurement Cloud.
  • Data Analysis & Reporting: Ability to synthesize large datasets into clear, concise reports and summaries for business stakeholders.
  • Understanding of Procurement Principles: Foundational knowledge of the procurement lifecycle, including RFIs, RFQs, RFPs, and purchase orders.

Soft Skills

  • Exceptional Attention to Detail: A meticulous and precise approach to data collection, entry, and verification is non-negotiable.
  • Analytical & Critical Thinking: The ability to not just gather data, but to analyze it, identify patterns, and draw logical conclusions to support decision-making.
  • Superior Organizational Skills: Proven ability to manage multiple research projects simultaneously, prioritize tasks effectively, and meet tight deadlines.
  • Strong Written Communication: Skill in composing clear, professional emails and creating well-structured reports and vendor summaries.
  • Problem-Solving & Persistence: An inquisitive nature and the tenacity to track down hard-to-find information and resolve data discrepancies.
  • Interpersonal & Collaborative Skills: A team player mindset with the ability to work effectively with colleagues across different departments.

Education & Experience

Educational Background

Minimum Education:

  • Associate's Degree or equivalent professional experience in a relevant field.

Preferred Education:

  • Bachelor's Degree.

Relevant Fields of Study:

  • Business Administration
  • Supply Chain Management
  • Finance
  • Data Analytics
  • Library and Information Science

Experience Requirements

Typical Experience Range:

  • 1-3 years of experience in a research, data analysis, procurement support, or detail-oriented administrative role.

Preferred:

  • Direct experience within a corporate procurement, sourcing, or supply chain department is highly desirable.
  • Prior experience working directly with vendor data and vendor management systems is a significant plus.
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