Sr. Manager, Procurement & Vendor Management

THE ROLE: 
The Senior Manager of Sourcing, Procurement, and Vendor Data Management is a high-impact role which involves overseeing vendor relationships, ensuring compliance with procurement policies, negotiated contracts, and driving analytics into managing vendors. The ideal candidate will have a strong background in vendor management, procurement strategy, and data analytic in a high-growth environment.

Key responsibilities include creating insightful interactive dashboards, and overseeing vendor performance related to contract service level agreements (SLAs), performance guarantees, and reporting timelines. The role requires establishing clear Key Performance Indicators (KPIs) for vendor performance and data management, regularly reviewing vendor performance against SLAs, and utilizing technology to centralize vendor information and automate data capture. The candidate will provide insights into complex vendor problems and track resolutions, exercising considerable latitude and expertise in determining objectives and approaches to assignments.

 

Additional responsibilities include accountability for vendor data and processes, conducting market scans for innovative vendor solutions, and setting up procedures and benchmarks to track data quality. The candidate will build and maintain positive relationships with vendors, develop vendor scorecards focusing on financial, customer satisfaction, and growth perspectives, and monitor open commitments, following up with vendors for audits, reporting, invoicing, and reconciliation. This role offers the opportunity to own projects and workstreams while collaborating with a broad range of stakeholders throughout the organization, significantly influencing and enhancing business operations.

 

HOW YOU WOULD CONTRIBUTE:

•    Lead and develop the Vendor and Data Management team which includes team members of various experience levels.
•    Develop and implement vendor management strategies to ensure alignment with business objectives.
•    Maintain strong relationships with key vendors, ensuring compliance with contractual obligations and regulatory requirements.
•    Assess vendor risks, including financial stability, and compliance.
•    Drive initiatives to enhance transparency, efficiency, cost-effectiveness, and continuous process improvement.
•    Work closely with internal stakeholders, including Finance, Operations, Sourcing, and Legal, to align vendor management with business needs.
•    Lead advanced analytics tools/reports, create insightful interactive dashboards, and oversee vendor data management related to contract service level agreements, performance guarantees, and reporting timelines.
•    Provide insight into complex vendor problems and track to resolution.
•    Conduct market scans for vendor solutions for new and innovative benefits.
•    Oversee performance evaluation of vendors through  vendor scorecards and monitoring performance focusing on financial, customer satisfaction, and learning & growth perspectives, using KPIs to track progress and identify areas for improvement in real time.
•    Monitor open commitments and follow up with vendors for audits, reporting, invoicing, and reconciliation.
•    Additional duties as assigned

SKILLS AND BACKGROUND REQUIRED TO BE SUCCESSFUL: 
•    Bachelor’s degree in business, finance, or other related field with 8+ years of professional work experience, including a minimum of 6-8+ years of direct vendor management experience.
•    Some previous management experience
•    Strong negotiation, contract management, and compliance expertise.
•    Excellent leadership, team development, people management, and influencing skills.
•    Strong analytical, problem-solving, and leadership skills.
•    Ability to manage multiple vendor relationships and projects in a fast-paced environment.
•    Excellent communication and stakeholder management skills.
•    Ability to synthesize financial data from trend, seasonality, and unique outliers perspective while presenting reasoning behind the emerging experience.
•    5+ years’ experience using data visualization tools such as Tableau or Power BI.
•    Experience in data management, product management, or vendor management.
•    Strong technical, verbal, and written communication skills.
•    Highly motivated self-starter and problem-solving passion that requires minimal guidance

 

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Herbalife offers a variety of benefits to eligible employees in the U.S. (limited to the 50 States and the District of Columbia), which includes Group Health Programs, other Voluntary Benefit Programs, and Paid Time Off. Group Health Programs include Medical, Dental, Vision, Health Savings Account (HSA), Flexible Spending Accounts (FSA), Basic Life/AD&D; Short-Term and Long-Term Disability, and an Employee Assistance Program (EAP). Other Voluntary Benefit Programs include a 401(k) plan, Wellness Incentive Program, Employee Stock Purchase Plan (ESPP), Supplemental Life/Critical Illness/Hospitalization/Accident Insurance, and Pet Insurance. Paid time off includes Company-observed U.S. Holidays, Floating Holidays, Vacation, Sick Time, a Volunteer Program, Paid Maternity and Paternity Leave, Bereavement Leave, Personal Leave and time off for voting.