An experienced and strategic Global Vendor Management Lead to join our centralized procurement department. This role is crucial in managing and optimizing vendor relationships and processes across all global locations. The ideal candidate will ensure that vendor management practices are aligned with organizational objectives, compliant with regulatory requirements, and adhere to CIPS standards.
Vendor Management:
Strategy Development:
- Develop and implement a global vendor management strategy in line with CIPS standards.
- KPI: Strategy implementation within 3 months of joining.
- KPI: Annual review and update of the vendor management strategy.
- Establish clear vendor management objectives and goals aligned with organizational strategy.
- KPI: Achievement of 95% of vendor management objectives annually.
- Analyse current vendor performance:
- KPI: Assess strengths, weaknesses, and areas for improvement with existing vendors to reach an initial vendor rating UAE level in 6 months and group level in 1 year to reach 100% of vendors rated in year 1.
Vendor Relationship Management:
- Maintain and improve relationships with key vendors to ensure long-term partnerships.
- KPI: Vendor satisfaction rating of 90% or higher in annual surveys.
- KPI: Retention rate of top-performing vendors at 95% or higher annually.
- Organize regular meetings and communication channels with vendors to foster collaboration.
- KPI: Bi-monthly meetings with top vendors and quarterly reviews.
- Develop joint improvement plans with key vendors to enhance performance and innovation.
- KPI: Implementation of joint improvement plans with 80% of key vendors annually.
- Measures how quickly vendors respond to your questions or concerns.
- KPI: Response time to before and after bid/sale inquiries should not exceed 2 days.
Performance Assessment:
- Conduct regular performance reviews and assessments of vendors based on established criteria.
- KPI: Quarterly vendor performance review completion rate of 100%.
- KPI: Improvement in vendor performance metrics (quality, delivery, cost) by 10% annually.
- Develop vendor scorecards to track performance metrics such as quality, delivery, and cost.
- KPI: Vendor scorecard accuracy and update rate of 100% on a quarterly basis.
- Implement a vendor feedback system to collect and act on vendor performance insights.
- KPI: Vendor feedback system implementation within 6 months and annual improvement actions based on feedback.
Risk Management:
- Identify and mitigate risks associated with vendor relationships.
- KPI: Number of identified vendor risks mitigated within specified timeframes.
- KPI: Zero major disruptions from vendor-related risks annually.
- Develop and implement risk management plans for critical vendors.
- KPI: Risk management plan implementation rate of 100% for high-risk vendors.
- Conduct regular risk assessments and update risk profiles for all key vendors.
- KPI: Semi-annual risk assessment completion rate of 100%.
Performance Metrics and Reporting:
- Develop and monitor key performance indicators (KPIs) for vendor management.
- KPI: Regular reporting on KPIs with an accuracy rate of 100%.
- KPI: Monthly and quarterly performance report submission adherence to 100%.
- Prepare and present comprehensive reports on vendor performance and compliance to senior management.
- KPI: Quarterly presentation to senior management with 100% adherence to reporting schedule.
Vendor On boarding and reporting:
- Efficiency of the vendor on boarding process:
- KPI: Measure the existing average service level to on board a vendor during the first month.
- KPI: The cost per vendor on boarding should be ready during the first 3 months.
- KPI: reduce the service level to on board new vendors by 10% during first 3 months.
- Effectiveness of Vendor on boarding process:
- KPI: Vendor satisfaction with on boarding process to be determined in 3 months and to be increased by 20% in the first year.
- KPI: First-time quality of vendor data rate to increase by 20% in 3 months.
Process Improvement:
- Identify opportunities for process improvement in vendor management.
- KPI: Implementation of at least three significant process improvements annually.
- KPI: Reduction in process cycle times by 15% within the first year.
- Lead initiatives to streamline and optimize vendor management processes.
- KPI: Increase in process efficiency metrics by 10% annually.
Stakeholder Engagement:
- Collaborate with internal stakeholders, including procurement, legal, finance, and regional teams, to ensure cohesive vendor management practices.
- KPI: Stakeholder engagement satisfaction rating of 90% or higher in annual surveys.
- KPI: Timely resolution of 95% of stakeholder concerns within agreed timelines.
- Act as the primary point of contact for vendor-related inquiries and issues.
- KPI: Response and resolution time for inquiries and issues within 48 hours.
- Facilitate cross-functional workshops to address vendor management issues and develop solutions.
- KPI: Quarterly workshops with cross-functional participation and documented outcomes.
Training and Development:
- Develop training materials and conduct training sessions for procurement staff on vendor management best practices.
- KPI: 100% of procurement staff trained on vendor management annually.
- KPI: Improvement in staff performance metrics related to vendor management by 15% annually.
- Support the professional development of vendor management team members.
- KPI: Professional development plans in place for 100% of team members.
- Mentor and coach team members to build their capabilities in vendor management.
- KPI: Employee engagement and satisfaction scores of 90% or higher annually.
Education:
- Bachelor’s degree in business administration, Supply Chain Management, or a related field.
- Relevant certifications such as Certified Professional in Supply Management (CPSM) or Certified Purchasing Manager (CPM) are preferred.
Experience:
- Minimum of 7-10 years of experience in vendor management or a related field.
- Proven track record in managing global vendor relationships.
Skills:
- Strong understanding of global procurement processes and vendor management.
- Excellent negotiation and relationship management skills.
- Strong analytical and problem-solving abilities.
- Excellent communication and interpersonal skills.
- Ability to work effectively in a fast-paced, dynamic environment and manage multiple priorities.
Additional Information:
- This role may require occasional international travel to support global vendor management activities.
- Candidates must be able to work collaboratively with cross-functional teams and manage stakeholders across different regions
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