Manager - Vendor Management & Vendor Empanelment

Job Summary:

The Vendor Management and Vendor Empanelment Specialist is responsible for overseeing the vendor lifecycle, from sourcing and evaluation to relationship management and performance monitoring. This role ensures that vendors meet organizational standards, fulfill contracts, and provide high-quality products or services at competitive prices. Additionally, the specialist will handle the empanelment process, onboarding new vendors, and maintaining a compliant, diverse, and reliable vendor pool.

Key Responsibilities:

Vendor Sourcing and Selection:

- Identify and evaluate potential vendors based on the organization's needs, market trends, and project requirements.

- Lead or support the RFP (Request for Proposal) process, negotiate contracts, and manage vendor selection criteria.

- Assess vendor capabilities, reputation, and financial stability to ensure reliable long-term partnerships.

Vendor Empanelment:

- Coordinate the vendor empanelment process, ensuring that vendors are registered, vetted, and added to the approved vendor list (AVL).

- Ensure all vendors meet legal, regulatory, and organizational compliance standards.

- Maintain and regularly update the vendor database for quick reference and easy access.

Contract Management:

- Negotiate terms and conditions of vendor agreements, ensuring that contracts are favorable to the organization while maintaining a healthy vendor relationship.

- Ensure the timely execution of contracts and adherence to agreed-upon deliverables.

- Monitor contract renewal dates and manage the re-negotiation process when needed.

Performance Monitoring and Vendor Relationship Management:

- Track and monitor vendor performance, including quality, delivery, service, and cost.

- Develop and maintain strong, collaborative relationships with key vendors to resolve issues, ensure smooth operations, and maximize value.

- Work closely with cross-functional teams to ensure vendor performance meets expectations.

Vendor Audits and Compliance:

- Conduct regular vendor audits to ensure compliance with contractual obligations, quality standards, and legal regulations.

- Identify potential risks associated with vendor relationships and develop mitigation strategies.

- Ensure adherence to ethical practices and corporate social responsibility (CSR) standards in vendor dealings.

Vendor Development and Improvement:

- Identify opportunities for vendor development and cost savings through process improvement or strategic collaborations.

- Provide guidance and support to vendors to enhance their performance and help them align with the company's goals.

- Collaborate with vendors on innovation, new product introductions, and market trends.

Documentation and Reporting:

- Maintain accurate records of vendor communications, agreements, and performance evaluations.

- Prepare regular reports for management on vendor performance, cost savings, and risk assessments.

- Provide insights on vendor performance trends, market conditions, and new vendor opportunities.

Collaboration and Communication:

- Coordinate with internal teams such as procurement, finance, operations, and legal to align vendor management efforts with organizational goals.

- Ensure that internal stakeholders are kept informed about vendor performance and any issues requiring attention.

- Lead meetings and discussions with vendors to resolve disputes, discuss performance, and negotiate future terms.