Vendor Income Expert

3 days left

Employer
Target
Location
Minneapolis, Minnesota, United States
Posted
Mar 26, 2019
Closes
Apr 23, 2019
Category
Management
Employment Status
Full Time
Description: PRIMARY FUNCTION
Vendor Income is a critical component of margin results, profitability and promotional effectiveness. The Vendor Income Expert is responsible for leading the development and implementation of Target's Vendor Income process and strategy, with limited customization to a business category. They will negotiate & execute funding agreements with Target merchants and vendors. They are accountable to delivering financials results and delivering on best practices. The Vendor Income Expert is a key business consultant to Merchant DMMs, Buyers, Negotiations, Finance/MFA and Vendors.

PRINCIPAL DUTIES AND RESPONSIBILITIES
• Apply business acumen and insights in order to identify gaps and customize best practices for a defined business category (division +)
• Develop a deep understanding of and influences merchant business strategies, objectives and outcomes
• Synthesize best practices with deep business context, financial analytics and negotiation expertise to drive vendor specific solutions
• Drive strong cross-functional partnership with Finance/MFA, BP&N and external vendors to drive accountability to vendor income process and strategies and execution of best practice
• Leverage strong critical thinking & communication skills to support, implement & train best practices within the vendor income process
• Proactively identify risks and opportunities; escalate and recommend solution and action plan to DMM & BP&N, as necessary
• Negotiate with vendors to deliver financial results and drive accountability to best practices; identify obstacles and take partners to develop solutions
• Authorized to approve vendor income agreements on behalf of Target
• Apply business knowledge and best practices to document and execute critical vendor income agreement details within the contractual system
• Drive accountability to best practices with merchants and vendors on vendor income and ensure accurate documentation of negotiations with vendors
• Champion Vendor Income best practices by providing visibility to projected vendor income and impact to profitability; work closely with DMM, Buyers, BP&N & Finance/MFA to ensure vendor income metrics & performance goals are met
• Translate insights from 3rd party vendor audit partners into recommended improvements (process or business negotiation) to vendor income profitability & metrics


REPORTING/WORKING RELATIONSHIP
Reports to Sr Manager, Vendor Income on the BP&N Operations Team

Works in close partnership with DMMs, Buyers, Planners; will be immersed/sit within the business category they support.


JOB REQUIREMENTS
MINIMUM REQUIREMENTS
0-2 years experience in merchandising or marketing preferred
• Undergraduate degree or a related field or relevant work experience 
• Demonstrated ability to create and execute to strategic plans and priorities
• Ability to demonstrate courage when challenged
• Synthesizes complex or diverse information and collects appropriate primary data; strong Microsoft Excel user
• Applies intuition and experience to draw implications 
• Strong interpersonal skills and ability to maximize relationships
• Excellent communication, influencing and leadership skills
• Entrepreneurial spirit with strong analytical, decision-making, project management, planning and organizational skills
• Bias for action


DESIRED REQUIREMENTS
• Previous experience with vendor relationships
• Previous negotiation experience



Qualifications:

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