Vendor Manager I/II

Vendor Manager

The Vendor Manager (VM) is responsible for strategically managing vendor portfolios and vendor relationships which may vary in complexity, risk, size, and spend, etc. The incumbent acts as a strategic trusted advisor to the business unit and business partners and leads sourcing, selection, negotiations, contracting, and governance activities through proactive collaborative engagement with the business unit, cross functional stakeholders, and leaders.

The Vendor Manager focuses on delivering improved vendor performance, competitive costs, balanced risk, enhanced vendor alignment, on-time execution, and optimal business partner alignment and satisfaction.

Essential Accountabilities:

All Levels:

• Manages vendor portfolios and vendor relationships for small size business units / vendor portfolios with low complexity and risk. Owns all aspects of the vendor relationship for designated business area to ensure vendor performance meets contractual obligations and business partner expectations.
• Performs monthly reviews with business unit regarding vendor current activity and future plans and requirements for new vendor activity; share industry vendor insight on cost drivers, negotiation levers, competitors, and industry trends. Provides required vendor management support for business unit ongoing operational activities and projects.
• Annually updates and formally reviews a business unit's vendor portfolio summary report covering overall portfolio vendor activity volumes, financials, dates, plans, issues, risks, opportunities, trending and industry insight. Facilitates upfront early engagement and initial planning with business units for ongoing renewals and new agreements.
• Directs activities for business unit vendor portfolio agreements, including renewals, amendments, and new contracts to drive quality, on-time delivery, competitive costs, contract execution; identifies key issues and required corrective actions while facilitating and escalating as needed.
• Leads, structures, and guides business units on major vendor sourcing, selection, negotiations, and contracting plan in partnership with internal stakeholders (Business Units, Legal, Finance, Security, EPMO, Sourcing, and Purchasing); facilitates management review and approval of plan scope, timing, costs, and sourcing approach; oversees overall plan execution per schedule.
• Leads sourcing and selection activities as planned through RFx competition and/or direct negotiations with industry advisement, as necessary.
• Leads commercial negotiations focused on vendor product and service obligations and competitive pricing by leveraging industry/benchmark pricing and advisement; formally tracks and reports negotiation results.
• Facilitates Legal, Finance, Executive Management, and Purchasing timely review and approvals; identifies key on-time execution issues and required corrective actions while facilitating and escalating as needed.
• Supports supplier diversity efforts with direct engagement of Minority and Woman owned businesses (MWBE) or through the development and capturing of second tier MWBE reporting.
• Supports formal governance framework to drive improvement for quality, delivery and support, flexibility and ease, cost and financials, risks and compliances, strategic partnership alignment and innovation for select vendors.
• Leads vendor escalations and contractual dispute resolutions by understanding the vendor's contractual obligations and communicating appropriately with its stakeholders.
• Provides required vendor management support for Corporate Enterprise projects.
• Supports optimization of Vendor Management framework, process, data, system, reporting, and analytics.
• Complies and understands corporate privacy policies and procedures that impacts member demographic information and internal stakeholders.
• Consistently demonstrates high standards of integrity by supporting the Lifetime Healthcare Companies' mission and values, adhering to the Corporate Code of Conduct, and leading to the Lifetime Way values and beliefs.
• Maintains high regard for member privacy in accordance with the corporate privacy policies and procedures.
• Maintains knowledge of all relevant legislative and regulatory mandates and ensures that all activities are in compliance with these requirements.
• Regular and reliable attendance is expected and required.
• Performs other functions as assigned by management.

Level II (in addition to Level I):

• Manages vendor portfolios and vendor relationships for medium sized units / vendor portfolios with moderate complexity and risk.
• Directs formal governance framework to drive improvement for quality, delivery and support, flexibility and ease, cost and financials, risks and compliances, strategic partnership alignment and innovation for select vendors.
• Supports management and team in review of current processes and implementation of improved processes, procedures, techniques and standards.
• Serves as a consultant on matters pertaining to budget development, procurement and vendor management.
• Manages multiple ongoing vendor related projects as assigned to meet business-driven deadlines and commitments while maintaining a high level of quality.
• Drives continuous improvement, cross-functional customer relations and team building.
• Assists in coaching and mentoring Level I Vendor Managers and Vendor Analysts.

Level III (in addition to Level II):

• Manages complex vendor portfolios and vendor relationships for large size business units / vendor portfolios with high risk.
• In partnership with business unit executives, leads the development and execution of cost model optimization strategies including alternative sourcing and vendor rationalization.
• Leads vendor management optimization activities and initiatives.
• Provides vendor management leadership for Corporate Enterprise priority projects.
• Leads team in review of current processes and implementation of improved processes, procedures, techniques and standards.
• May direct some of the activities of Level I and II Vendor Managers and Vendor Analysts including coaching & mentoring.

Level IV (in addition to Level III):

• Manages highly complex vendor portfolios and vendor relationships for large size business units / vendor portfolios with very high risk.
• Accountable for recommendations, development, and implementation of new processes, procedures, techniques, and standards.
• Champions Supplier Diversity initiatives internally and externally and influences others to drive greater supplier diversity spend.
• Directs some of the activities of Level I-III Vendor Managers and Vendor Analysts including coaching & mentoring.
• Proactively seeks out and drives continuous improvement in vendor management practices, processes, and policies, as well as departmental initiatives.

Minimum Qualifications:

NOTE:

We include multiple levels of classification differentiated by demonstrated knowledge, skills, and the ability to manage increasingly independent and/or complex assignments, broader responsibility, additional decision making, and in some cases, becoming a resource to others. In addition to using this differentiated approach to place new hires, it also provides guideposts for employee development and promotional opportunities.

All Levels:

• Two (2) or more years of experience with vendors in the areas of sourcing, negotiating, contracting, and vendor governance.
• Bachelor's degree in Supply Chain Management, Business, Finance, IT, or related field preferred.
• Working knowledge of procurement modules of an Enterprise Resource Planning (ERP) tool.
• Previous experience driving and leading negotiations for low to medium complexity agreements.
• Experience executing competitive bids and negotiations with a track record of delivering cost efficiencies and value.
• Persuasive effective communication with a demonstrated ability to build, influence, and execute in all facets of relationship building, sourcing, negotiations, contracting, and governing vendors.
• Full cycle project management support experience. Ability to manage multiple projects simultaneously.
• Proven ability to secure alignment and commitment with partners and/or stakeholders, ensuring deadlines are met, while communicating risks and necessary adjustments in a timely manner.
• Demonstrated ability to think strategically and create, develop, and drive robust operational action plans.
• Ability to perform work with minimal oversight and as part of a team.
• Ability to support or lead cross-functional teams.
• Basic skills in Microsoft Office programs.

Level II (in addition to Level I):

• Five (5) or more years of experience with vendors in the areas of sourcing, negotiating, contracting, and vendor governance.
• Proficiency with procurement modules of an Enterprise Resource Planning (ERP) tool.
• Experience driving and leading negotiations for moderate to complex agreements.
• Experience executing strategic competitive bids and negotiations with a track record of delivering cost efficiencies and value across a diverse portfolio of enterprise sourcing activities.
• Strong data analysis and strategic thinking skills.
• Project leadership experience that involves management of projects from inception to completion.
• Ability to work independently, including exercising considerable decision-making skills in determining objectives and approaches.
• Ability to lead cross-functional teams, possibly directing the work of others.
• Strong skills in Microsoft Office programs.

Level III (in addition to Level II):

• Seven (7) or more years of experience with top tier enterprise vendors in the areas of sourcing, negotiating, contracting, and vendor governance.
• Advanced proficiency