Vendor specialists are responsible for ensuring timely, reliable, and accurate inventory reconciliation between a company and its vendors, foreign or local. Vendor specialists must coordinate the payments made to vendors while also taking into account the feedback and inventory levels of other departments, and they must be able to manage the company's cash flow and maintain effective communication with vendors at all times.
Vendor specialists are often responsible for updating pertinent statements in order to reflect the vendor operations that have taken place in a given time-period. Problem-solving skills are important in this position, and they should also have strong communication skills to serve as a valuable point of contact between an organization and its vendors. Strong analytical and organizational skills are also beneficial for interpreting and elaborating on reports.
Vendor specialists must be good negotiators to arrange beneficial terms with vendors, and they typically work indoors in an office to analyze reports and handle vendors' paperwork. They interact with vendors mostly via e-mail and phone, and occasional meetings with vendors' representatives may also be necessary.
Vendor Specialist Tasks
Act as a contact point for vendors, answer questions, and resolve problems.
Handle the processing of information for new vendors and integrate them into vendor system.
Identify possible areas of vendor risk and work to minimize that risk.
Manage company relations with vendors and ensure vendors meet contract requirements.