Of course, all of this knowledge doesn't just simply come "by osmosis," such that you'll need to be very good at ferreting out just how these products and services will be found at the best prices and quality possible. Therefore, you'll need a deep technical knowledge of the industry, goods and services you are purchasing.
Job Duties Particular to These Types of Purchasing Jobs
Purchasing agents work specifically for a given company to buy products necessary to their particular company.
Educational Requirements
Job purchasing training happens a lot on the job, of course, but if you want to be a purchasing agent, you'll usually need a college degree as well. Specifically, if the company you want to work for is particularly large, you'll likely need a bachelor's degree with a business emphasis. If you're going to work for a manufacturing firm, you specifically need formal training with at least a bachelor's degree and possibly a master's degree in business, engineering, economics, or even applied sciences. More advanced purchasing jobs above that of a purchasing agent usually need master's degrees.
On-The-Job Training
Beyond formal education, of course, it's necessary to receive extensive on-the-job training so as to be able to understand your company's needs thoroughly and therefore buy the right products and services necessary. Because of that, you'll be trained as a purchasing agent, with the training period lasting between one and five years. You'll work with experienced purchasers to learn about suppliers, prices, commodities, markets, and so on. You may also have to learn production details, so that you learn about material requirements and inventory for your particular company.
Beyond that, you'll need to be good with computers and will learn how to use a variety of software programs to manage your job duties.
As you work within your career, you'll need to continue your education in order to advance. Seminars are often offered by professional societies, or you can take college courses in supply management, for example. Professional certification is increasingly important in the industry as well. This is especially true if you're just starting out as a purchasing agent. To that end, the Certified Purchasing Manager designation was first established by the Institute for Supply Management, and subsequently replaced by the Certified Purchasing Professional and Certified Professional Purchasing Manager certifications, given by the American Purchasing Society.
Compensation and Jobs Outlook
Purchasing agents start at about $33,000 a year, with an average salary for all levels of experience in all industries at about $50,000. Job outlook is modest, with about 7% growth in the next few years.
