What is a Vendor Manager Job?
A vendor manager is a professional responsible for managing vendor relationships and ensuring that products and services are delivered on time and within budget. This role is critical to the success of a business, as vendors play a crucial role in the supply chain. Vendor managers work with a wide range of suppliers, from small businesses to large corporations.
What Do Vendor Managers Usually Do in This Position?
Vendor managers are responsible for a variety of tasks, including identifying potential vendors, negotiating contracts, managing vendor performance, and resolving any issues that arise with vendors. They also work closely with other departments within the company, such as purchasing and finance, to ensure that vendors are meeting the company's needs and goals.
Top 5 Skills for This Position
1. Communication: Vendor managers must be able to communicate effectively with vendors, as well as with other departments within the company.
2. Negotiation: Negotiating contracts and pricing with vendors is a key responsibility of a vendor manager.
3. Relationship Building: Building and maintaining strong relationships with vendors is critical to the success of this role.
4. Time Management: Vendor managers must be skilled at managing their time effectively, as they are often responsible for managing multiple vendors simultaneously.
5. Analytical Thinking: Analyzing vendor performance and identifying areas for improvement is an essential part of this role.
How to Become a Vendor Manager
To become a vendor manager, you typically need a bachelor's degree in business administration, supply chain management, or a related field. Most employers also prefer candidates with several years of experience in procurement or vendor management. Strong communication and negotiation skills are also important for this role.
Average Salary
According to Glassdoor, the average salary for a vendor manager in the United States is $85,000 per year. However, this can vary depending on factors such as experience, location, and industry.
Roles and Types
There are many different roles and types of vendor managers, depending on the industry and company size. Some examples include:
1. IT Vendor Manager: Manages relationships with technology vendors and ensures that software and hardware are delivered on time and within budget.
2. Procurement Manager: Oversees the purchasing process and manages relationships with vendors across all departments within a company.
3. Retail Vendor Manager: Works with suppliers to ensure that products are delivered on time and meet the company's quality standards.
4. Strategic Sourcing Manager: Develops and implements strategies for sourcing goods and services from vendors.
Locations with the Most Popular Jobs in the USA
According to Indeed, some of the top cities for vendor manager jobs in the United States include:
1. New York, NY
2. San Francisco, CA
3. Chicago, IL
4. Los Angeles, CA
5. Atlanta, GA
What are the Typical Tools?
Vendor managers typically use a variety of tools to manage vendor relationships, including:
1. Vendor Management Software: These tools help vendor managers keep track of vendor contracts, performance, and communications.
2. Customer Relationship Management (CRM) Software: Some vendor managers use CRM software to manage vendor relationships and interactions.
3. Excel Spreadsheets: Excel spreadsheets can be used to track vendor performance and manage budgets.
In Conclusion
Vendor manager jobs are critical to the success of a business, as they ensure that products and services are delivered on time and within budget. To be successful in this role, you need strong communication and negotiation skills, as well as the ability to build and maintain strong relationships with vendors. A degree in business administration or supply chain management can be helpful, as well as several years of experience in procurement or vendor management. With the right skills and experience, a career as a vendor manager can be both rewarding and lucrative.