The Vendor Relationship Manager is responsible for appraising and improving our sourcing activities by analyzing the company’s spending, supplier partnerships, and new possibilities. This role requires a deep understanding of procurement, supplier management, logistics, and global sourcing to ensure efficient and cost-effective delivery of distribution items and engineered solutions. The Vendor Relationship Manager will identify and strengthen our supplier partnerships by collaborating closely with cross-functional teams, including sales, engineering, and operations teams, to optimize material availability, minimize risks, and drive operational excellence with our supplier partners.Key Responsibilities: Manage supplier relationships, including ongoing performance evaluation, issue resolution, and fostering long-term partnerships. Develop risk management procedures to mitigate losses in the event of product shortages Identify, evaluate, and select suppliers based on quality, reliability, cost-effectiveness, and adherence to ethical and sustainability standards. Develop and implement procurement strategies to optimize cost savings and operational efficiency. Negotiate contracts and terms with suppliers to ensure favorable pricing, payment terms and mutually beneficial agreements. Collaborate with internal stakeholders and external customers to understand their requirements and align procurement activities with organizational goals. Conduct market research and analysis to stay updated on industry trends, economic factors, supplier capabilities and pricing fluctuations. Manage the company’s supply portfolio ensuring transparency of spending Generate and implement efficient sourcing and category management strategies Analyze and calculate costs of procurement and suggest methods to decrease expenditure Invent negotiation strategies and secure profitable deals Optimize sourcing procedures to attain maximum efficiency Cooperate with stakeholders to guarantee agreement on terms and processes Research and anticipate shifts in the negotiating power of suppliers Perform cost and scenario analysis, and benchmarking Estimate risks and apply risk-minimizing techniques Discover and partner with trustworthy vendors and suppliers
