Vendor Management Skills: Example Usage on Resumes, Skill Set & Top Keywords in 2024

Did you know that many companies struggle with managing their third-party service (or product) providers?

At times, this task may seem like you have to jump through so many hoops: choosing your suppliers from the infinite businesses out there; sustaining an effective vendor relationship.

Here's where the role of the helpful, vendor manager comes in.

Vendor management skills show you're able to coordinate and cooperate with third-party (product or service) providers.

Your work would involve building mutually beneficial relationships with suppliers to turn a regular business transaction into a long-standing partnership.

And it all starts with a meticulous analysis of the vendor offer (with a focus on features and pricing), risk and security, compliance, etc.

Vendor management is one of those skills that employees really appreciate in various roles.

Make sure you include it on your resume with concrete examples.

In the next section of our guide, find out:

Why is vendor management wanted by recruiters on your resume?

Vendor relationships affect the whole business, and that's why recruiters are always on the lookout for experienced professionals.

When third-party service providers are managed effectively, the organization not only benefits financially.

Effective vendor relationships help businesses safeguard one of their most important resources: time.

Vendor managers deal with contract negotiations and evaluations of the product and services.

This is to ensure that the organization is making the most out of the relationship with its third-party providers.

Another reason why vendor management is important - experienced professionals can create strong relationships in the supply chain: based on professionalism and trust.

This means that third-party vendors will be more willing to assist with the implementation of their products or service company-wide.

What skills, activities, and accomplishments help you highlight your vendor management

Vendor management entails a versatile skill set within your experience and achievements. Some of the most popular ones that show your proficiency are:

• Negotiation Skills: experienced vendor managers know that negotiation isn't just bargaining prices. They want to reach a win-win situation, where the contract terms are in good faith and beneficial for both parties.

  Within your resume, demonstrate how you've negotiated contracts to increase profit margins and build a more sustainable relationship with service providers.

• Financial Analysis Skills: vendor managers should assess their current third-party providers on a regular basis. This analysis is to realize if the company is making the most out of its product or service, in accordance with the budget.

  Your resume is the perfect opportunity to show why you've decided to switch to a particular service provider, either to cut costs or get a better service.

• Decision-Making Skills: have you ever considered how many businesses offer the same service/ product? When choosing vendors, managers take into consideration organization-wide priorities (from budget to necessity).

  Logical-based decision making holds an important place on recruiters' checklists. Don't forget to include instances where your choices have positively impacted your organization's profits.

Another helpful tip when listing your vendor management soft skills is to pay extra attention to the job requirements.

If you can take the most crucial specifics of the job and illustrate them with examples from your practice, this will certainly impress recruiters.

Take a page from industry experts by checking out the resume samples in the next section.

Example 1: Demonstrate vendor management in the experience section

The experience section provides you various opportunities to focus on the vendor management skills you’re most apt at.

In the case of this Vendor Manager / Business Analyst, they’ve proved their expertise in assessment, contract negotiations, vendor software, and relationship-building.

Notice how each bullet outlines the results they’ve achieved, instead of just what they’ve done.

Example 2: Demonstrate vendor management in the resume summary section

The summary section of your resume is once more an opportunity to highlight your vendor management skills with a focus on results.

Within it, you can also include some traits to highlight your work ethics and your role within any organization’s growth.

One bonus tip from us - always be honest about your skills and capabilities.

Example 3: Show your vendor management in your achievements' section

The achievements section of your resume could highlight your vendor management skills by focusing on both individual and team performance.

When including this section, always think about what value it would add to your overall profile and how best to specify your results.

Example 4: Demonstrate the skill through other sections of your resume

Consider this - your knowledge of different languages could be very beneficial for your vendor management abilities. Mainly, that you can negotiate terms and conditions with suppliers from different countries.

As well, you can list your vendor management skills in other resume sections, e.g. certifications or philosophy.

Whatever strategic approach you decide, remember to always balance your resume between what’s important to recruiters and to you, as a professional.

Vendor Management skills: key takeaways for your resume

• Vendor management skills highlight your ability to build long-standing and mutually beneficial partnerships with service providers - which is beneficial for all parties involved
• Qualify your skills with a big picture focus; mainly what vendor-related decisions have you taken to cut costs, enhance internal processes, get better offers, etc.?
• Your resume should shine a light on the results you’ve achieved using your vendor management skills instead of just plainly listing them in bullet points