What does a Purchasing Manager do?
Purchasing Managers work in all industries to secure the materials, supplies and equipment a company needs to complete essential business functions. This includes all kinds of products from raw materials to packaging and shipping supplies. The role of a Purchasing Manager is to design purchasing strategies that ensure constant availability of inventory within the company’s budget. Purchasing Mangers develop databases of potential suppliers and cultivate working relationships to ease the process of acquiring new materials.
Purchasing Manager skills and qualifications
A Purchasing Manager should have the following skills and qualifications to be effective in the position:
- Knowledge of procurement software and tools
- Interpersonal skills such as teamwork and good listening skills
- Negotiation skills
- Excellent communication skills
- Ability to manage time and organize
- Strong leadership skills
Purchasing Manager salary expectations
A Purchasing Manager earns an average of $73,345 per year. This amount may vary depending on the exact industry and geographical location of the position. Purchasing Managers may also receive an average of $5,000 per year through profit sharing.
Purchasing Manager education and training requirements
To get hired in the position for any sized company, a candidate should have a bachelor’s degree in business, which typically includes courses in business communications, principles of management, business law for commercial transactions, marketing management and strategic management. The degree gives applicants an overview of many functions in the business world and how they interact. Degrees in finance or supply management are also relevant. Purchasing Managers should have some experience in the field.
Purchasing Manager experience requirements
In order to be promoted or hired as a Purchasing Manager, candidates are required to have at least 5 years of experience in a relevant area. A Purchasing Manager usually grows into the role through internal promotions. Many Purchasing Managers begin their careers as Buyers or Purchasing Agents and receive on-the-job training where they learn about the basics of procurement and how to negotiate with suppliers. After gaining experience, they are then promoted from that position to a Purchasing Manager.
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