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.