Purchasing managers are also known as purchasing agents, purchasing specialists or buyers. Their job is to purchase products, materials, merchandise or other items for their company. The purchasing company may purchase the items for different purposes, and the company may procure the finished products and sell them to other companies or even customers, thus acting as resellers. The task of the purchasing manager is to identify the best supplier in terms of cost, quality, capacity and reliability. Their daily responsibilities include identifying the requirement of purchase, placing orders, meeting with suppliers, learning about new products launched by the suppliers and tracking purchases and payments. Travel may be required, especially if the organization has offices or facilities at multiple locations.
A four-year college degree in marketing or business is desired for the post of a purchasing manager who may aim for the designation of Certified Purchasing Manager (CPM) from the Institute of Supply Management. It is one of the most important and prestigious certifications obtainable by purchasing managers. The requirements for a CPM certification are a four year degree and three to five years of experience in supply management. A professional in this field can further build his credentials by obtaining a Masters degree in business or management.
The basic skills required to be a successful purchasing manager include data analytics, decision making and planning. Data analytics is required for forecasting and assessing requirements based on available data and planning future actions based on the results. Like any other purchasing task, negotiation skills are a must for striking profitable deals. It is also helpful for the purchasing manager to develop a thorough understanding of available products and business operations.
Purchasing jobs do not require any specific training. However, training on computer usage and software may be useful if your organization utilizes IT support for handling operations. You are required to start as a purchasing trainee who learn on the go and may even be given classroom instructions. The purchasing managers can even work on a short term basis in other departments for learning about the company's purchasing needs.
Purchasing managers, especially in large purchasing departments, may be required to have 1-2 years of experience in purchasing departments as sales persons, analysts etc. in order to know how the purchasing department operates. You may get a job as purchasing manager directly after completing education only in smaller organization such as retail stores and small or medium sized companies.
The estimated career outlook for a purchasing manager is projected to be growth-oriented with an above average growth rate than other professions. Purchasing managers can look towards handling larger purchasing departments in large firms by gaining experience, undergoing advanced trainings and obtaining higher educational qualifications and certifications. The rewards vary according to the role and the size of corporation. The salaries for purchasing managers generally range from $50,000 to as high as $125,000.
Purchasing functions may be performed in various type of organizations such as manufacturing, food, processing, chemical, construction, military, civil service, academic and retail. The purchasing departments of these organizations offer jobs for purchasing managers, acquisition sales managers, corporate procurement specialists and senior buyers. The terms used for the post may be different but they broadly cover the same functions and details may vary according to the type of organization and industry. Purchasing involves majority of the work in wholesale or manufacturing industries. Further, the task is important and involves lots of challenges. The career path promises lots of job opportunities with excellent growth prospects.
