Identify new vendors through market research, industry networks, trade fairs, and online platforms.
Analyze potential suppliers based on capability, capacity, cost, quality, and reliability.
Maintain a database of qualified and approved vendors.
Conduct supplier audits, capability assessments, and site visits.
Verify vendor credentials, certifications, compliance, and financial stability.
Initiate vendor registration processes and ensure proper documentation.
Negotiate pricing, credit terms, payment cycles, and supply agreements.
Continuously work with vendors to achieve cost reductions without compromising quality.
Conduct comparative analysis and benchmarking.
Coordinate with the quality team to set quality standards and specifications.
Monitor vendor performance using KPIs: on-time delivery, rejection rates, price competitiveness, responsiveness, etc.
Handle vendor-related quality issues and drive corrective action plans.
Ensure timely supply of materials/components as per production requirements.
Work with vendors to improve lead times and minimize supply risks.
Develop alternative sources to avoid dependency on single suppliers.
Draft and manage supply agreements, NDAs, and SLA documents.
Maintain healthy long-term relationships with key suppliers.
Facilitate periodic vendor review meetings.
Ensure vendors comply with company policies, statutory requirements, and industry standards.
Maintain accurate documentation—vendor files, agreements, performance reports.