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Who is a Procurement Manager?
“Purchasing power is a license to purchase power.”-Raoul Vaneigem
The procurement manager is a professional who is responsible for purchasing goods and services of the company. He or she is responsible for bringing in the best quality equipment or goods or services. He or she builds a network with suppliers, vendors, and contract manufacturers. A career as procurement manager needs to negotiate with them and acquires the most cost-effective deals. He or she develops a buying strategy that is suitable for the company. His or her whole idea is to minimize the supply chain risks and increase the efficiency of work. A career as procurement manager’s goal is to make the business as profitable as by making sure to obtain the best practices and operational efficiencies.
Procurement Manager in a Nutshell
The procurement Manager is also known as Purchasing Manager. The role of Procurement Manager is to source products and services for a company. Procurement Managers are involved in developing a purchasing strategy, including the company's budget and the supplies and as well as the vendors who can provide goods and services to the company. His or her ultimate goal is to bring the right products or services at the right time with cost-effectiveness.
Quick Facts for Procurement Manager
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Industry
Manufacturing
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Average Salary in India
₹75000
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Suitable for
Male, Female
A career as a Procurement Manager is not based on gender. This career provides opportunities to everyone even those with special needs. This job role is open to individuals with physical disabilities. Whether you are male, female or any other gender you can apply for this job role. There is no gender discrimination in this Procurement Manager career, every gender equally enjoys their right.
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Any special needs
Yes
A career as Procurement Manager is suitable for everyone. Basically, the role of Procurement Manager includes buying products and services and ensuring that are cost-effective. Physically fit people can join in this field but there is no hard and fast rule on it. It may be a little difficult for physically disabled persons but those who are passionate about this career and can work effectively and effortlessly are eligible for procurement manager careers.
Table of Contents for Procurement Manager
What is the role of Procurement Manager?
The Procurement Manager purchases goods and services to meet the needs of the company's requirements. He or she manages, evaluates, and coordinates the procurement. The role of Procurement Manager is to plan and implement strategies that are cost-effective. A career as Procurement Manager requires to builds long-term relationships with vendors and manufacturers for the purchase of goods and services. He or she negotiates with the vendors to get the products at a minimal cost. The Procurement Manager reviews the contract specifications and compares the proposals for price and specifications. A Procurement Manager is responsible for managing technical systems that track material shipments, inventories, and deliveries. He or she reviews requests for proposals and predicts the needs and supplies. He or she trains new employees and other staff when needed.
Supplier Evaluation and selection
The role of Procurement Manager is to evaluate the supplier before signing any contract. He or she must check for various factors such as the quality, price, and delivery time of those products so that the company can receive the best and most suitable products and services at the right time.
Attending Meetings
The career as Procurement Manager will have to talk to vendors to know more about their products and services after thorough research and evaluation. Then, he or she agrees to purchase. He or she researches and finds the best vendors. A procurement Manager visits trade shows or conferences to build connections and keep updated with the latest market trends.
Negotiation
Procurement Managers after learning about the price, specifications, or features of the products or services and if it is best suitable for the company, he or she will negotiate with the vendors to reduce the cost. On behalf of the company and keeping the company's budget in mind, the Procurement Manager will close the deal with great price negotiation.
Analysis
Individuals who are willing to opt for a career as Procurement Manager need to analyze carefully the prices and everything related to the purchase from the suppliers. Apart from analyzing the purchase he or she also analysis the financial reports of the suppliers and makes comparisons of past records.
Types of a Procurement Manager
This career provides a wide variety of Procurement Manager career options. In this section, we have discussed some of the types of a Procurement Manager that are listed below:
Purchasing Assistant: A Purchasing Assistant is a professional who assists the senior purchaser manager in their everyday work. He or she assists their seniors in evaluating the supplier's past track record and current status, filling out contracts, and any other work carried out related to their job position.
Buyer: A buyer of the company or an organization is responsible for managing the team under him or her. They oversee the work and assign tasks and responsibilities to the juniors. They attend meetings with suppliers and finalize the best deals, approve budgets for the assets, and process the contracts.
Purchasing Manager: A Purchasing Manager is responsible for buying products or services for a company or an organization. He or she supervises the purchasing agents and buyers. A Purchasing Manager is responsible for evaluating suppliers, negotiating the contract, reviews product quality. Sometimes they will also act as agents or buyers as well in small companies.
Logistician: A logistician is a professional who oversees activities such as shipping, purchasing, inventory, transportation, delivery, and many more. He or she is responsible for managing the product and improving the client base. They propose strategies to cut down the cost and time for transportation goods. With the help of a software system, they plan and track the movement of goods.
What is the workplace/work environment of Procurement Manager like?
A career as Procurement Manager needs to work depending on the company's requirements. The Procurement Manager will be working mostly in the office environment and whereas a field Procurement Manager needs to go out to meet the suppliers, finalize purchasing deals, and sign contracts. Conducting research and analysis on various suppliers, purchases and all other activities includes both physical and mental efforts.
Does Procurement Manager require travelling?
Not Likely
The procurement Manager’s job position is not a full-time travel-based job. Still, purchasing managers may need to travel to meet with suppliers to evaluate products, negotiate prices, or sign contracts. Career as Procurement Managers usually works in an office. He or she does not have to travel a lot for work but when he or she client needs to go out for a new purchase or meet the suppliers or the vendors.
Employment Shifts
Full Time
A Procurement Manager usually works a day shift on a full-time basis.
Employment Nature
Permanent
The nature of employment of a purchasing manager is permanent in nature. The company hires him or her on a permanent and full-time basis.
Work Place
Manufacturing Plant
A career as procurement Manager needs to travel for evaluating the products, negotiating, dealing, and finalizing the purchases by signing contracts. He or she also travels to find new suppliers, vendors, or projects.
Presence in Geographical Area
Semi-urban, Urban
The procurement Manager mostly functions in an urban or semi-urban area. Procurement Managers may find it difficult to work in rural areas.
Time Pressure
Likely
For individuals who opt career a Procurement Manager job is time-bound. He or she may work under pressure as sometimes products or services supply gets delayed and it may affect the functioning of the company.
Overtime Details
The procurement Manager's job role is for nine hours per day and according to the needs of the company he or she may have to work for some extra hours to complete the projects and deadlines.
Weekly Hours of Work
Min 45 Hours
A career as procurement Manager needs to work 40-45 hours a week and nine hours on weekdays and on weekends generally gets off. But the working hours and offs may vary depending on the company.
How to become a Procurement Manager?
Steps to become a Procurement Manager
What are the skills and qualities required to become a/an Procurement Manager?
In this section, we have discussed how to become Procurement Manager, Procurement Manager eligibility for candidates who want to pursue a career as Procurement Manager.
Negotiation skills: The first and foremost skill of a Procurement Manager is Negotiation skills, he or she must be able to negotiate well with the suppliers to provide the company's products and services. They negotiate with the clients or customers to get the best deal for the company, which will benefit the company as well as the client.
Communication skills: The Procurement Manager must have strong command over language as it plays a vital role in this position. If communications skills are strong enough then the individuals will be able to deliver the message precisely and clearly.
Cost Management skills: It is essential that the Procurement Manager must have cost management skills. He or she manages the cost of the purchase according to the budget of the company. If they analyze, evaluate, and execute the contract well, by managing the cost then there will be a lot of benefits to the company or organization.
Decision-making skills: The Procurement Manager in almost all cases need to make decisions for the execution of the purchase strategy. He or she needs to be careful and selective while making decisions. They need to calculate what are the risks, benefits, and any other things related to purchases.
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Which certifications and internships can be helpful in becoming Procurement Manager?
Here, we have mentioned some of the procurement managers' certifications.
Professional Certificate in Supply Chain & Inventory Management | |
Executive Certificate Program in Supply Chain and Logistics Management |
Internship Availability
The procurement manager can opt for an Internship. He or she can opt for an internship either after completing the studies or they can also opt during their studies. Pursuing an Internship is beneficial for the candidates as it provides excellent exposure to the work and also improves their skills. The internship is an opportunity where you can practice everything that you learned during your studies. He or she must choose an internship according to their interest in the subject and career goals.
Career Path Progression for Procurement Manager
Junior Procurement Manager: Junior Procurement Manager coordinates the purchases as per the company's policies, budget and procedures. He or she finds new clients or suppliers and does the analysis. A Junior Procurement Manager works under the supervisors and reports to the team lead.
Senior Procurement Manager: A Senior Procurement Manager is responsible for purchasing the products and services for the company or the organization at the best cost. He or She negotiates, reviews product quality, and evaluates suppliers. They also train Junior Procurement Managers and other team members related to the same job profile.
Procurement Manager Jobs and Salaries
Junior Procurement Manager
- Average Salary 50000
Job Description
Junior Procurement Manager supports the purchasing process of the company. He or she works on the strategic plans for purchases, researches, and analyses distributors, supplies, and distributes the products and services. Works under the supervision of Seniors and creates contract documentation and schedules meetings with clients.
Salary Description
A Junior Procurement Manager's estimated average annual income ranges between Rs 3.2 to 9.5 lakhs per annum in India. It may vary depending on the various job factors such as the location of the company, candidates' abilities, skills and talents, qualifications, and subject knowledge.
Senior Procurement Manager
- Average Salary 100000
Job Description
A Senior Procurement Manager is responsible for buying or purchasing products and services of a company. He or she is responsible for bringing in quality and price-effective products for the company. They maintain records of all purchases, find suppliers, and monitor stock availability.
Salary Description
The salary of a Senior Investor may vary depending on the various job factors. The estimated average annual income for a Senior Investor ranges between Rs 7.8 to 35.9 lakhs per annum in India.
What is the job outlook for Procurement Manager?
If you are still thinking about is Procurement Manager a good career then you must read the further article to know more details about the Procurement Manager salary in India details. There is a significant market for Procurement Managers as industries and businesses are growing rapidly. There are great Procurement Manager career options right from the entry-level (Juniors or freshers) position to experienced levels. A career as Procurement Manager is a great option for candidates who are interested in making purchasing decisions or deals and have excellent negotiation skills. Candidates will experience great job growth as the industry is vast and growing.
As the industries are growing supply chain management is also increasing, hence creating a huge opportunity for Procurement Manager jobs. There are a lot of job openings available in this field. A career as a Procurement Manager has become even more significant after the global pandemic Covid-19, so there is a huge scope for this career at the current and in the future.
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