Vendor Manager role is evolving based on maturity of organization, complexity of thier IT service and solutions requirements and number of vendors servicing their needs. Some of key roles and responsibilities for Vendor Manager are:
- Managing vendor relationships
- Perform vendor stratification - classification and consolidation
- Renegotiating existing contracts
- Fine tune pricing models
- Perform cost and performance benchmarking
- Execute vendor selection process - hiring of new vendors
- Establish new service delivery approaches
- Formalizing and documenting the process (VMO Setup and Sustain)
- SLA and Metrics
- Strengthen governance and engagement management processes