What is a Vendor Relationship Manager job?
A Vendor Relationship Manager job is a role that involves managing relationships with vendors, suppliers, and third-party companies on behalf of an organization. The primary function of this job is to ensure that the organization's vendors are meeting the agreed-upon terms and delivering high-quality products or services. This role is critical to the success of any organization that relies on external vendors to provide goods or services that are essential to their operations.
What do individuals in this position usually do?
Individuals in Vendor Relationship Manager jobs typically manage vendor contracts and service level agreements, monitor vendor performance, and negotiate new contracts with vendors. They may also be responsible for identifying new vendors, conducting vendor assessments, and developing strategies to optimize vendor performance. In addition, they may work closely with other departments within the organization, such as procurement, finance, and legal, to ensure that vendor relationships are aligned with the organization's overall goals and objectives.
Top 5 skills for this position:
- Strong Communication and Interpersonal Skills
- Negotiation Skills
- Vendor Management and Contract Management Skills
- Analytical and Problem-Solving Skills
- Project Management Skills
How to become a Vendor Relationship Manager specialist?
To become a Vendor Relationship Manager specialist, you typically need a bachelor's degree in business, management, or a related field. Additionally, many employers prefer candidates with several years of experience in vendor management, contract negotiation, or procurement. It is also essential to have excellent communication and interpersonal skills, as well as strong analytical and problem-solving abilities. Professional certifications, such as the Certified Professional in Supplier Diversity (CPSD) or the Certified Professional in Supply Management (CPSM), can also be beneficial in this field.
Average Salary:
According to Glassdoor, the average base salary for a Vendor Relationship Manager in the United States is around $87,000 per year. However, this can vary widely depending on factors such as location, level of experience, and the specific industry in which the individual is working.
Roles and Types:
Vendor Relationship Manager jobs can be found in a wide range of industries, including manufacturing, healthcare, finance, and technology. Within these industries, there are different types of Vendor Relationship Manager roles, such as Strategic Vendor Relationship Manager, Tactical Vendor Relationship Manager, and Vendor Risk Manager. Each of these roles may have different responsibilities and require different skills and experience levels.
Locations with the most popular Vendor Relationship Manager jobs in the USA:
According to data from Indeed, some of the top locations for Vendor Relationship Manager jobs in the United States include New York, NY, Chicago, IL, San Francisco, CA, Houston, TX, and Atlanta, GA. However, there are opportunities for Vendor Relationship Managers in many other cities and regions throughout the country.
What are the typical tools for a Vendor Relationship Manager?
Vendor Relationship Managers typically use a variety of tools to manage vendor relationships, including contract management software, project management software, and vendor assessment tools. They may also use communication tools such as email, video conferencing, and collaboration platforms to communicate with vendors and other stakeholders.
In conclusion:
Vendor Relationship Manager jobs are an essential part of any organization that relies on external vendors or suppliers to provide goods or services. Individuals in this role need to have strong communication and interpersonal skills, negotiation skills, and vendor management and contract management skills. With the right education, experience, and certifications, individuals can build successful careers in this field, with opportunities available in many different industries and locations throughout the United States.