Most commonly reported Work Activities

• Resolving Conflicts and Negotiating with Others Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
• Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
• Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
• Communicating with Persons Outside Organisation Communicating with people outside the organisation, representing the organisation to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
• Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
• Making Decisions and Solving Problems Analysing information and evaluating results to choose the best solution and solve problems.
• Analysing Data or Information Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
• Developing and Building Teams Encouraging and building mutual trust, respect, and cooperation among team members.
• Organising, Planning, and Prioritising Work Developing specific goals and plans to prioritise, organise, and accomplish your work.
• Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

The Work

A vendor management role heavily involves working closely with vendors to make purchasing decisions and maintaining relationships with vendors for as long as the company uses them. Specific vendor management roles and responsibilities include visiting vendors to inspect products, communicating with vendors to ask any product or price questions, negotiating contracts to get the desired pricing, analysing multiple vendors to decide which to use for a particular product and providing leadership over purchasing agents and buyers.

This role requires you to be a good communicator and negotiator and have interpersonal skills to effectively maintain vendor relationships. Math and decision-making skills are important for selecting vendors that best fit the company's needs.

• Overall responsibility & accountability for assigned Vendors
• Day to day oversight of assigned Vendors delivering services to customers
• Monitoring agreed Vendor's service level agreements & key performance indicators, oversight of Vendor performance & managing any customer escalations to resolution
• Conduct monthly vendor service reviews, track operational performance & agree actions plans
• Management of assigned Vendor contracts, ensuring all Business, Compliance or/and commercial requirements are appropriately documented, and are in compliance with applicable law, rules and regulations
• Planning and managing process changes between all stakeholders (internal & external vendors) as well as ensure vendor Service Requirement Document is updated
• Negotiating and delivering enhanced process and service to our customers
• Working with Inventory & Finance team to keep vendors within forecasted costs and providing recommendations for cost reduction
• Participation in projects; involvement in setting requirements for a variety of products and services relating to vendor services
• Alignment with all relevant teams; working closely with Business devlopment teams to understand sales plans and requirements and to be able to provide forecasts to vendors
• Work very closely with different business lines, mainly Business development team, Operations & Product, understand team concerns and address them
• Regularly & Continuously Analyse vendor performance, understand trends, identify gaps and propose solutions
• Proactively looking for opportunity internally and with assigned vendor to improve process, reduce cost and/or increase revenue

Most commonly reported Work Tasks

• Represent companies in negotiating contracts and formulating policies with suppliers.
• Develop cost reduction strategies and savings plans.
• Develop and implement purchasing and contract management instructions, policies, and procedures.
• Prepare bid awards requiring board approval.
• Direct and coordinate activities of personnel engaged in buying, selling, and distributing materials, equipment, machinery, and supplies.
• Locate vendors of materials, equipment or supplies, and interview them to determine product availability and terms of sales.
• Interview and hire staff, and oversee staff training.
• Prepare and process requisitions and purchase orders for supplies and equipment.
• Review, evaluate, and approve specifications for issuing and awarding bids.
• Control purchasing department budgets.

This occupation is typically suited for people with the following Career Interests:

Enterprising

Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.

Social

The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.

Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.

Administrative

Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.

They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.

The Vendor relationship role requires significant knowledge and experience. Many associates start their careers in sales or customer service and then progress. 

The most relevant degree subjects include business, management and marketing. Likewise also an engineering mindset. Although a degree may sometimes be required, experience and track record are often as important to an employer.

Training & Development Pathways

Training can also help you progress and there are both undergraduate and postgraduate courses in business and management which can support you in your career.

FET Centre Traineeship: Business Admin, Customer service, Management available around Ireland at NFQ Levels 5-6 Search FET Courses

FET PLC Courses: Business Management, Sales, Marketing, Commerce, and Accounting available around Ireland at NFQ Levels 5-6 Search FET PLC Courses

Apprenticeship: Accounting, Finance, Sales Apprenticeships NFQ levels 6-8 Search Apprenticeships

Higher Education CAO Entry: Business, Commerce, Economics, Maths & Statistics, Accounts & Finance available around Ireland at NFQ Levels 6-8 Search CAO courses

Postgraduate Study Options Sales, Business, Accounts, Management, Financial advice NFQ level 9

Professional Organisations Training or networking events:

International Financial Services Skillnet Network 

Irish Banking & Payments federation 

Financial Services Union

The 30% club: Growth Through Diversity 

Qualified financial Advisers 

On-the-job training continuous professional development is complemented by study for the Chartered Financial Analyst (CFA) qualification. Three levels of examination measure a candidate's ability to apply the fundamental knowledge of investment principles at a professional level.

Last Updated: April, 2023

Salary Range (thousands per year)* €35k - €80k

Salaries vary by employer, location, duties, role, and experience.

Data Source(s):
CPL/ Sigmar/ Morgan McKinley/ Lincoln/ Brightwater

Last Updated: August, 2024

* The lower figures typically reflect starting salaries. Higher salaries are awarded to those with greater experience and responsibility. Positions in Dublin sometimes command higher salaries.

View Salary information from Indeed.ie
Note: data not aways available

This occupation has been identified as a Job in Demand by the most recent National Skills Bulletin.

This information has been derived from the Solas National Skills Bulletin (2023).

Emloyment growth over the five-year period was negative for this occupation, with employment declining marginally between 2021 and 2022. Employment permits issued in 2022 related to fund and account managers. The data provides no evidence of issues in relation to this occupation.

• FSU Financial Services Union (former IBOA)

  • Stephen Street Upper, Dublin 8, D08 DR9P
  • (0)1 4755908
  • [email protected]
  • Click Here

• Fidelity Intl Transactional Services Limited

  • George's Quay House, 43 Townsend St, Dublin 2, D02 VK65
  • 01 223 1200
  • Click Here

• Banking and Payments Federation Ireland

  • Nassau House, Nassau St. Dublin 2
  • (01) 671 5311
  • [email protected]
  • Click Here