Businesses of all kinds require various supplies and materials to get work done, and all of these items need to be ordered and purchased. Additionally, the management of vendor orders for supplies and materials must be handled in an organized fashion or else budgets can be negatively affected and product delays in manufacturing can become a problem. To help keep everything on track, companies will often hire for the role of procurement specialist, also sometimes referred to as a purchasing manager.
The Role of Procurement Specialist
A procurement specialist is someone who handles the tasks of finding supplies and materials, placing purchase orders and managing vendor relationships. For example, a manufacturing company that is looking for frameless BLDC motors or aerospace BLDC motors might have its procurement specialist get a quote from a distributor or a manufactuer. The procurement specialist would then finalize the purchase order with the company and keep track of orders to ensure the manufacturing company has the supplies needed to make its products.
A purchasing manager will also work closely with the sales department to keep up with demand forecasts. Procurement specialists need access to sales data in order to plan ahead to manage expectations. If sales are expected to rise in the coming quarter, additional supplies and materials will be needed. If sales are expected to slow, fewer supplies and materials should be ordered.
A procurement specialist will also need to work closely with facility engineers to stay updated regarding changes to equipment. If a manufacturing facility currently uses machinery that requires one type of material, but the facility is planning to install new machinery that uses a different material, the procurement specialist will need to know so that they can plan ahead. With this knowledge ahead of time, the procurement specialist can search for vendors and establish purchase orders well in advance of the change.
What Are The Requirements To Become A Procurement Specialist?
Different industries have different requirements for the role of procurement specialist. Some industries prefer candidates have a background in logistics, but others may prefer a background in project management. Because a procurement specialist works with budgets and purchase orders, some experience in accounting may also be beneficial.
In terms of education, many applicants seeking employment as procurement specialists will need to have some college experience. Many companies prefer a Bachelor’s Degree, but some may only require a high school diploma. Experience may also take the place of education in some situations, but once again, this will depend on the company and the industry.
What Is The Salary Range For Procurement Specialists?
According to GlassDoor and several other employment data sources, salaries for procurement specialists can range from around $46,000 annually to about $95,000. The average salary for procurement specialists is somewhere around $66,000 per year.
Experience and education can affect salary expectations, and a candidate’s region and industry can also affect salary figures. Some industries pay more, and some regions offer higher pay, but with higher pay usually comes greater responsibility and expectations for performance.
What Is The Job Forecast For Procurement Specialists?
Per the Bureau of Labor Statistics, purchasing manager positions are expected to decline slightly in the coming decade, but tens of thousands of job openings are also expected. Many companies are choosing to consolidate purchasing and procurement tasks, and automation also factors into the job outlook for procurement specialists.
It should be noted that despite an expected decline in procurement specialist roles in the future, technology can change at a moment’s notice. Professionals currently employed as purchasing managers may find that they can be re-skilled to serve in a project management or logistics role related to online ordering systems.