Vendor Selection and Evaluation
  • Collaborate with stakeholders to identify vendor requirements and selection criteria.
  • Research and evaluate potential vendors based on factors such as quality, reliability, pricing, and capabilities.
  • Conduct vendor assessments and due diligence to ensure compliance with regulatory requirements and industry standards.
Contract Negotiation and Management
  • Lead contract negotiation processes to secure favourable terms and conditions for goods and services.
  • Review and analyse vendor contracts to ensure alignment with organisational objectives and risk mitigation strategies.
  • Monitor contract performance and compliance to ensure adherence to terms, conditions, and service level agreements (SLAs).
Vendor Relationship Management
  • Serve as the primary point of contact for vendors, facilitating communication and collaboration between internal stakeholders and vendors.
  • Build and maintain strong relationships with key vendor contacts, fostering mutual trust and partnership.
  • Conduct regular vendor performance reviews and meetings to discuss performance metrics, issues, and opportunities for improvement.
Performance Monitoring and Optimisation
  • Establish key performance indicators (KPIs) and metrics to measure vendor performance and service quality.
  • Monitor vendor performance against established KPIs and SLAs, identifying areas for improvement and optimisation.
  • Implement strategies to address performance issues and drive continuous improvement in vendor performance.
Vendor Risk Management
  • Identify and assess potential risks associated with vendor relationships, including financial, operational, legal, and reputational risks.
  • Develop risk mitigation strategies and contingency plans to minimise the impact of vendor-related risks on organisational operations.
  • Monitor and evaluate vendor risk exposure, implementing controls and measures to mitigate identified risks.
Cost Management and Optimisation
  • Analyse vendor costs and pricing structures to identify opportunities for cost savings and optimisation.
  • Negotiate pricing adjustments and cost reduction initiatives with vendors to achieve cost-effective solutions.
  • Monitor and track vendor expenses and expenditures to ensure alignment with budgetary constraints and financial goals.
Compliance and Governance
  • Ensure vendor compliance with contractual agreements, regulatory requirements, and industry standards.
  • Develop and maintain vendor governance frameworks, policies, and procedures to ensure transparency, accountability, and compliance.
  • Conduct vendor audits and assessments to verify adherence to contractual obligations and regulatory requirements.
Dispute Resolution and Escalation
  • Facilitate resolution of disputes and conflicts with vendors, serving as a mediator to address issues and find mutually acceptable solutions.
  • Escalate significant issues or disputes to senior management or legal counsel as needed to protect organisational interests and mitigate risks.
  • Document and maintain records of dispute resolution processes and outcomes for future reference and analysis.
Vendor Performance Reporting and Communication
  • Prepare and distribute regular reports and updates on vendor performance to internal stakeholders and senior management.
  • Communicate key vendor-related information, trends, and issues to relevant stakeholders, facilitating informed decision-making and action.
  • Present recommendations for vendor management improvements and initiatives to optimise vendor relationships and performance.
Continuous Improvement and Innovation
  • Identify opportunities for process improvements and innovation in vendor management practices, tools, and technologies.
  • Lead initiatives to enhance vendor management capabilities and processes, driving efficiency, effectiveness, and value creation.
  • Stay informed about emerging trends and best practices in vendor management through ongoing research, networking, and professional development activities.