Vendor Management Analyst - Princeton, United States - Sierra Solutions

Sierra Solutions Princeton, United States

1 week ago

Pharmaceutical / Bio-tech

Description

Job Summary

We are looking for a Vendor Management Analyst for our Pharmaceutical client. This role will oversee and optimize vendor relationships, ensure the delivery of high-quality services and products, and drive cost efficiency. The ideal candidate will have a strong background in vendor management, negotiation, and contract administration and be able to collaborate effectively with internal stakeholders and external vendors.

Primary Responsibilities

Evaluation: Conduct thorough evaluations, and make recommendations based on performance, capabilities, and cost-effectiveness.
Negotiation: Negotiate favorable terms and conditions with vendors to maximize value while minimizing risk. Ensure contracts align with business objectives and compliance standards.
Relationship Management: Cultivate and maintain strong relationships with vendors to facilitate open communication, resolve issues promptly, and drive continuous improvement in service delivery.
Monitoring: Establish key performance indicators (KPIs) and service level agreements (SLAs) with vendors. Monitor performance regularly and take proactive measures to address any deviations from agreed-upon standards.
Management: Identify and mitigate potential risks associated with vendor relationships, including cybersecurity, data privacy, and regulatory compliance risks.
Collaboration: Collaborate closely with internal stakeholders, including procurement, legal, finance, and business units, to align vendor management activities with overall business objectives and priorities.
Performance Reviews: Conduct regular performance reviews and vendor evaluations to assess adherence to contractual obligations, identify areas for improvement, and recognize top-performing vendors.

Education and Experience

Bachelor's degree in Business Administration, Supply Chain Management, Finance, or related field. Master's degree preferred.
5+ years in vendor management, procurement, or strategic sourcing roles, with demonstrated success in negotiating contracts and managing vendor relationships.
Strong analytical and financial acumen, with the ability to analyze vendor costs, evaluate pricing models, and identify cost-saving opportunities.
Excellent communication and interpersonal skills, with the ability to effectively collaborate with internal stakeholders and external vendors at all levels of the organization.
Solid understanding of contract law, procurement best practices, and regulatory compliance requirements.
Certification in procurement or vendor management (e.g., CSCP, CPIM, CPM) is a plus.
Proficiency in Ariba a plus.

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