WHAT DO PROCUREMENT MANAGERS DO?
Procurement managers, also known as purchasing managers, work for large companies and are in charge of managing and coordinating procurement agents, buyers or purchasing agents, as well as working on the most complex purchases for the company. They research, evaluate and buy products for companies to either resell to customers or use in their everyday operations.
Procurement managers are the people in charge of determining what products get to store shelves, in catalogues, and online. They do the footwork, the research and create the deals to buy large quantities of products for their companies, and then sell them to customers, or use them to create new materials that they then sell to customers. This could be wholesale and retail equipment, farm goods, or paper and industrial goods.
HOW MUCH DO PROCUREMENT MANAGERS MAKE?
Purchasing managers made a median annual income of $95,070 in 2010, according to the Bureau of Labor Statistics (BLS). This translates into $45.70 per hour.
WHAT ARE THE EDUCATION REQUIREMENTS?
Companies expect at least a bachelor's degree in business or accounting, plus experience as a purchasing agent, buyer or procurement agent, although some of the more complex jobs might require a master's degree. Certification is available.
JOB SKILLS AND REQUIREMENTS
- Analytical Skills: Procurement managers work with multiple vendors to determine the best deals for the company, and have to evaluate the many pros and cons of each, based on price, quality, speed of delivery and other factors.
- Decision-Making Skills: Procurement managers need to use the information gathered by yourself and the purchasing agents to make decisions on behalf of your company.
- Math Skills: Basic math skills will be needed to analyze prices and get the best deals possible.
- Negotiating Skills: Procurement managers will be working with suppliers to create the best deals. Negotiating skills will help create those deals.
THE FUTURE OF PROCUREMENT MANAGERS
A little slower than normal, according to the BLS. Slow growth in farming and a decrease in manufacturing in the United States are the leading causes.