Job description

The Vendor Relationship Manager will support analyzing existing vendor contracts, performance, and costs, with a keen eye on optimizing and consolidating vendor relationships. This pivotal role demands robust analytical skills, proficiency in Excel modeling, outstanding abilities in term sheet creation, contract editing, negotiation, and persuasion, and deep contextual understanding of healthcare technology and systems. Reporting to the Head of Corporate Strategy , the Vendor Relationship Manager will collaborate extensively with Business Units, Centers of Excellence, and Legal departments. The Vendor Relationship Manager will identify and capitalize on opportunities for cost savings, streamline vendor operations, and forge new partnerships that bolster our corporate growth objectives.

Essential Functions: In addition to working as prescribed in our Performance Factors specific responsibilities of this role include:

Vendor Contract Analysis

Review and analyze current vendor contracts to identify terms, conditions, and cost structures.
Evaluate vendor performance against contractual obligations and key performance indicators (KPIs).

Financial Performance & Cost Analysis

Analyze financial performance data to assess the cost-effectiveness of current vendor relationships.
Identify opportunities for cost savings and efficiencies through vendor consolidation and optimization.

Vendor Optimization & Consolidation

Develop strategies to optimize the vendor base, reduce redundancy, and consolidate services where possible.
Implement vendor consolidation plans to achieve better pricing, improved service levels, and streamlined operations.

New Vendor Relationships & Partnerships

Identify and evaluate potential new vendors and partners to meet the company's needs, including facilitation of RFIs and RFPs.
Negotiate and draft new vendor contracts, ensuring favorable terms and conditions.

Contract Drafting, Editing & Negotiation

Draft term sheets and review, and edit vendor contracts, ensuring compliance with company policies and legal requirements.
Lead and/or support contract negotiations to achieve optimal terms and manage risks effectively.

Stakeholder Collaboration

Collaborate with internal stakeholders to understand business needs and align vendor strategies with organizational goals.
Maintain strong relationships with vendors and partners, ensuring open communication and effective issue resolution.

Reporting & Documentation

Prepare detailed reports and presentations on vendor performance, financial analysis, and optimization initiatives.
Maintain comprehensive records of vendor contracts, negotiations, and performance evaluations

Profit & Loss

Candidates should have a strong understanding of financial statements, including profit and loss reports.
This includes analyzing revenue, expenses, and profitability, identifying trends, and making data-driven decisions to optimize financial performance.
Responsibilities may include managing budgets, forecasting, cost control, and working closely with finance teams to ensure financial health and strategic planning.
Additionally candidate should have strong business case experience and be able to build a business case independently

Minimum Requirements:

Education/Experience/Certification Requirements

Bachelor’s degree in economics or finance, healthcare related field, English, or Journalism
5+ years in management consulting
4+ years in healthcare
MBA preferred
Excellent communication (written and oral) and interpersonal skills.
Strong organizational, multi-tasking, and time-management skills.