A Procurement Manager also known as a purchasing manager, is responsible for planning and coordinating the activities of purchasing officers and related workers who are involved in the purchase of materials, products and services. Purchasing managers are an integral part of corporate performance and are drivers of efficiency for the business by way of implementing processes that minimize the business waste while ensuring the day-to-day operations of the business running smoothly. In short, within companies they play a pivotal role in the success of global firms in ways that old-fashioned purchasing managers could never have imagined.
Procurement is a fantastic choice for graduates looking for a varied and exciting role with great career prospects. Being an outward focused function, you get to work in partnership with individuals from various sectors and attain plenty of cross-industry experience. Negotiation, interpersonal and communication skills being the key to the role of a successful procurement manager, one will need to build key relationships with both suppliers and the internal teams. They are typically employed by organizations that spend large amounts of money for equipment, supplies and services. Some of them are, manufacturing companies, construction companies, oil, gas & natural resource industries, colleges and universities and state governments. Aspirants from diverse functional backgrounds usually have a broader perspective in this challenging career than a "buyer" and end up with greater rewards and promotional upside.
Salaries and Job Outlook*
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The job outlook is optimistic stimulating recruitment in procurement in the last few years. Procurement as a function has continued to gain visibility and employers are looking to bring on talented professionals to optimize business growth and minimize costs. Procurement managers can find jobs in numerous industries, including government, manufacturing, industry, retail and healthcare.The salary level of procurement managers can vary depending on their personal qualifications, the size and type of their employer, the specific responsibilities of their job, and many other factors. Individual performance plays a key role in driving career progression and compensation.The average annual salary of a Procurement manager ranges from INR 6.0 lacs p.a to 8.0 lacs p.a
Education and Training
The minimum qualification needed for this career is a Bachelor's degree in a related area such as business or economics, logistics, supply chain management or purchasing. There are various Diploma and certification courses offered in Purchase and Supply Chain Management that include business law, finance, negotiation tactics and business ethics as essential subjects. Some employers prefer such certifications as their hiring criteria.
Valued Traits & Abilities
No business can perform its tasks without the necessary supplies, licenses and equipment that are necessary, and the procurement manager plays an important role to ensure the company has all of these things. Hence they are imperative for the growth and operation of many companies. It is one of the careers that give the opportunity to prove ones' mettle from the start to finish of a project.Procurement managers are in high demand and the number of such professionals is less to meet this demand. They are hired by large companies that contract out services, such as information technology who need procurement managers to manage those contracts. Government organizations, private companies and defense are the other employers for procurement managers.Some career opportunities for procurement specialists are:
They are much more than a purchaser and are responsible for sourcing new products and analyzing the success of existing goods to ensure that the company and its products remain competitive. The work profile of a retail buyer covers multitude tasks that include contract negotiations, inventory management, sales planning, forecasting etc.
Technology Sourcing Manager
Mainly responsible for managing sourcing activities for the information technology (IT) category of goods and services in compliance with public competitive bid guidelines. They facilitate the procurement processes RFP (Request for Proposals) for the company and maintain collaborative stakeholder relationships.
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