What Does a Procurement Specialist Do?
Procurement Specialists work for retail and supply chain businesses to procure various materials for the company’s products. They’ll spend time researching and finding suppliers that produce quality items within the business’ budget. Procurement Specialists are typically given key business criteria and must ensure that all of the products follow this criteria and specification list.
They’re also responsible for gathering and preparing documents like quotes, proposals and purchase terms and conditions from suppliers for their supervisor to review. Once suppliers are hired, the Procurement Specialist will carefully analyze and monitor them and will record their performance. They’ll also be one of the supplier’s main points of contact and will answer any questions or address concerns the supplier has.
Procurement Specialist Skills and Qualifications
A successful procurement specialist has certain prerequisite skills and qualifications, which include:
- Communication: Strong verbal and written communication skills are a requirement for Procurement Specialists. They use these skills to determine their company’s product needs and to create constructive relationships with vendors.
- Project management: Procurement Specialists often manage multiple projects at one time. The ability to plan, delegate and evaluate progress toward goals is necessary for managing these projects.
- Negotiation: Procurement Specialists are in charge of negotiating vendor contracts, so they must understand price points and be able to negotiate effectively.
- Problem-solving: A Procurement Specialist must have strong problem-solving skills. For example, they may need to solve the problem of a product or service that does not meet the quality standards of their company.
Procurement Specialist Salary Expectations
The average expected salary for a Procurement Specialist is $24.78 per hour. Some Procurement Specialists may make between $7.25 and $57.50 per hour, depending on geographical location, level of experience and the size of the organization. A Procurement Specialist who is in charge of managing high-value contracts in a large company will expect to earn more than an entry-level Procurement Specialist who works for a smaller company with lower-valued contracts. Additionally, a Procurement Specialist with more experience and greater negotiation skills can earn a higher salary when they are able to reduce vendor costs and maximize profits.
Procurement Specialist Education and Training Requirements
A minimum of a bachelor’s degree is often a requirement to work as a Procurement Specialist. Procurement Specialists will usually have a degree in Business Administration, Finance, Logistics or Supply Management. Students will often complete some training through an internship during their education. They will train in areas such as inventory, vendor outreach, negotiation and contract assessment.
Procurement Specialist Experience Requirements
Some hiring managers prefer that Procurement Specialists have previous experience, whereas others will prefer to hire an entry-level candidate and train them within the company. Entry-level Procurement Specialists will often work for a few months with a more experienced Buyer or Purchasing Agent.
Some hiring managers may require that candidates have the Certified Purchasing Professional (CPP) certification or that they work toward it during employment. The Certified Supply Chain Professional (CSCP) is another certification that requires candidates to have previous procurement experience. Some employers may also prefer that candidates have previous experience working in their specific industry.
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