Vendor Management Specialist

What is a Vendor Management Specialist?

A Vendor Management Specialist is responsible for managing vendor relationships and ensuring high-quality service delivery for real estate operations. They oversee the vendor lifecycle, including identification, selection, performance evaluation, and relationship management, to support the seamless operation and maintenance of properties.

This role involves contract negotiation, performance monitoring, and developing vendor scorecards to optimize partnerships and ensure compliance with agreements while aligning with the company's goals.

Job Duties

• Vendor Identification and Selection: Identify and evaluate potential vendors, such as contractors and property management companies, ensuring alignment with service level agreements, cost efficiency, and quality standards.
• Contract Negotiation: Develop and negotiate favorable contract terms, including pricing structures, performance metrics, and service deliverables.
• Vendor Performance Management: Regularly assess vendor performance through audits and feedback, addressing issues promptly and ensuring adherence to agreements.
• Vendor Relationship Management: Build and sustain strong relationships with vendors, fostering collaboration and ensuring consistent, high-quality service delivery.
• Vendor Performance Reporting: Create and manage vendor scorecards and performance reports, tracking metrics and identifying opportunities for improvement.
• Process Optimization: Identify areas to streamline procurement and vendor management processes, enhancing efficiency and reducing costs.