Intermediate Vendor Management Specialist

Role summary

Develops, monitors, and manages vendor relationships to ensure the organization obtains a better or the expected return for its investment in vendor contracts. Supports the Vendor Management function and implements strategic and operational goals by conducting evaluations of vendors, both before and after contract negotiations. May work on special projects and performs on-going studies. Researches and identifies vendors with capabilities/capacities for potential relationships and monitors existing relationships to ensure payments and terms are satisfied. Fosters current or new vendor relationships to enable the organization to contain costs and maximize value and profitability. Responsibilities include sourcing, vendor relationship management, negotiating favorable pricing, and reporting on vendor performance. May develop detailed RFPs for specific services or products and invite vendors to respond with proposals. Reviews proposals for compliance with the RFP requirements and requests supplemental information as required. Takes initiative to evaluate the financial, operational, and performance reputation of the vendor to ensure suitable organizational partnerships to avoid potential risks or liabilities. May monitor the post contract performance of the vendor relative to product or service delivery and performance and make change recommendations. May review vendor invoices relative to their compliance with agreed contract terms prior to their release for payment. Maintains active positive relationships with designated points of contact with key vendors at the appropriate levels to escalate, discuss and resolve issues relative to the supply of goods and services. Typically requires a related degree in such disciplines as Business, Accounting or Finance plus related procurement, vendor management, and vendor negotiation experience.

Job summary sourced from the Empsight benchmark job library.