Vendor Management Director Salary in Lakeville, Minnesota

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Average Salary for Vendor Management Director in Lakeville, Minnesota

The average salary of a(n) Vendor Management Director in Lakeville, Minnesota is $116,220.

The average hourly rate of a(n) Vendor Management Director in Lakeville, Minnesota is $55.88.

The average bonus of a(n) Vendor Management Director in Lakeville, Minnesota is $9,832.00.

Job Description:

Directs the design and implementation of vendor management strategies. Leads initiatives to improve processes and productivity in vendor relationships and to optimize product and/or service agreements. Supports the negotiation of contractual agreements between the organization and its suppliers, ensuring that short- and long-term service and cost objectives are met. Develops, implements, and maintains policies that relate to vendor management. Recommends sourcing goals and strategies to meet objectives. Manages relationships and monitors performance of vendors. Utilizes vendor and relationship management best practices, such as preferred suppliers, service level agreements, and long-term pricing strategies to achieve a balance of cost effectiveness while providing an incentive for suppliers to compete for the best talent. Designs and maintains the vendor governance structure, including regular meetings with vendor representatives to assess and improve the quality of services and the relationship. Advises on negotiation strategies and contract structuring, including participating in deal teams, where appropriate. Participates in the budget process. Performs cost and spend analysis to identify cost effective solutions for existing and future contracts. Tracks achieved savings and communicates overall vendor management trends and results. Stays current on trends and developments within vendor management. Less

Directs the design and implementation of vendor management strategies. Leads initiatives to improve processes and productivity in vendor relationships and to optimize product and/or service agreements. Supports the negotiation of contractual agreements between the organization and its suppliers, ensuring that... More

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