A vendor manager oversees the relationship between their business and its vendors (or suppliers). They manage these relationships from the start of the contract through the sales process and after, when a financial analysis may be of strategic assistance. These professionals must provide analyses to their organization on vendors, oversee costs, and ensure the terms of contracts are followed by all parties. They should also be able to identify trends related to product needs for their employer. Vendor managers must be able to build positive relations with new vendors and maintain good relationships with existing ones as well.
Vendor Manager Tasks
Identify potential vendors and conduct research to determine who offers the best products, prices, and services.
Coordinate vendors to develop efficient supply chain strategies.
Manage company relationships with vendors, making sure contract terms are fulfilled and mitigating vendor risk.
Create sales partnerships with vendors which benefit both parties.