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    Vendor & Contract Manager - Reading, United Kingdom - BMI Group

    BMI Group
    BMI Group Reading, United Kingdom

    3 weeks ago

    Default job background
    Full time
    Description

    Empower, Connect, Evolve, and Inspire - these are the values that drive us and make BMI a company where you can thrive and grow.

    Reporting Relationship & Location

    This position reports to the Chief Information Officer and will be based in Reading, UK. The role will also have a strong matrix reporting to the Chief Financial Officer (CFO) of BMI Group.

    This role will also have key stakeholders in the Procurement team as well as the Legal team at BMI.

    Responsibilities

    As a Vendor Manager, you will play a pivotal role in establishing and maintaining relationships with external vendors to ensure the seamless supply of goods or services essential for the organisation's operations. This role involves overseeing the entire vendor lifecycle, from selection and onboarding to performance evaluation and termination including managing vendor performance, negotiating contracts, and resolving any disputes that may arise.

    Your focus will be on optimising vendor relationships to achieve cost savings, quality improvements, and operational efficiencies while working closely with different teams within BMI to ensure that vendors meet the company's standards and contribute to its overall success. This role will be aligned largely to vendors who provide services aligned to the the IT and Finance function within BMI.

    Key business responsibilities include:

  • Vendor Selection: Identify potential vendors through market research, referrals, and networking. Evaluate vendors based on criteria such as quality, price, reliability, and capability to meet organisational needs.
  • Contract Negotiation: Negotiate favourable terms and conditions with vendors to secure the best value for the organisation. Draft and review contracts, including pricing, delivery schedules, service level agreements (SLAs), and terms of payment. Coordinate contract execution process, obtaining necessary approvals and signatures.
  • Vendor Relationship Management: Develop and maintain strong relationships with key vendors. Serve as the primary point of contact for vendor communications and issue resolution. Conduct regular performance reviews and address any concerns or discrepancies.
  • Vendor Performance Monitoring: Monitor vendor performance against established metrics and KPIs. Track delivery timelines, product quality, and compliance with contractual obligations. Identify areas for improvement and implement corrective actions as necessary.
  • Cost Management: Analyse vendor pricing and negotiate competitive rates to optimise procurement costs. Implement cost-saving initiatives without compromising quality or service levels.
  • Risk Management: Assess potential risks associated with vendor relationships, such as supply chain disruptions, quality issues, or contractual breaches. Develop contingency plans to mitigate risks and ensure business continuity.
  • Compliance: Ensure vendor compliance with legal and regulatory requirements, as well as internal policies and procedures. Conduct audits and inspections to verify adherence to contractual terms and industry standards.
  • Contract Administration: Maintain a centralised repository of contracts and related documents. Track key contract milestones, such as renewal dates and termination clauses.
  • Collaboration: Collaborate with cross-functional teams, including procurement, finance, operations, and legal, to align vendor management activities with organisational objectives. Communicate effectively with internal stakeholders to coordinate vendor-related activities and address emerging needs.
  • Continuous Improvement: Stay abreast of industry trends, best practices, and emerging technologies in vendor management. Identify opportunities for process optimization and automation to enhance efficiency and effectiveness.
  • Reporting and Documentation: Generate reports on contract status, performance, and key metrics for senior management and stakeholders. Ensure accurate and comprehensive documentation of contract-related activities and decisions.
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