What are the responsibilities and job description for the Strategic Sourcing & Vendor Manager position at KONNECTED LLC?
Job Description
Job Description
Description :
The Strategic Sourcing and Vendor Manager plays a pivotal role in driving the expansion of our company’s product selection, profitability and growth. This position is responsible for onboarding and developing new vendor and supplier relationships within the premium-quality tools, hardware and industrial supplies space. Key responsibilities include strategic sourcing, contract negotiations, and fostering collaborative partnerships that align with the company’s operational objectives and enhance growth and profitability long term.
Essential Responsibilities
- Develop and nurture relationships with new and existing suppliers to expand product selection within high-quality tools, hardware, and industrial supplies categories.
- Onboard new suppliers that meet company standards for quality, reliability, and cost-effectiveness.
- Regularly evaluate supplier performance and address issues related to product quality, delivery, reliability, and compliance.
- Create and execute sourcing strategies to procure high-quality tools and industrial supplies that align with the company’s market positioning.
- Lead negotiations with suppliers to secure favorable terms, pricing, and agreements that align with the company’s high-quality standards.
- Leverage relationships to stay abreast of market trends, new product opportunities, and competitive pricing.
- Collaborate with internal stakeholders to ensure that sourcing aligns with operational goals and customer demands.
- Review and manage contracts to ensure compliance with company policies and legal requirements.
- Monitor contract adherence and recommend adjustments to optimize supplier relationships.
- Collaborate with the procurement & logistics team to ensure efficient sourcing, inventory management, and on-time delivery of products.
- Develop strategies to minimize supply chain disruptions and improve operational efficiency.
- Analyze supplier data to identify cost-saving opportunities without compromising quality.
- Track and report on supplier performance metrics, ensuring alignment with company goals.
- Support financial forecasting and budget planning for procurement activities.
- Represent the company at trade shows to identify new potential suppliers, explore innovative product offerings, and gain market insights.
- Actively network with industry professionals during trade shows and attend after-hour events to foster supplier relationships and establish the company’s presence as a leader in the industry.
- Prepare post-event reports summarizing supplier opportunities, market trends, and actionable recommendations.
- Perform other duties as required by management.
Requirements :
Skills and Competencies
