Purchasing managers, buyers, and purchasing agents buy a vast array of products and services for companies and institutions. They attempt to get the best deal for their company—the highest quality goods and services at the lowest possible cost. Purchasing managers, buyers, and purchasing agents accomplish this by studying sales records and inventory levels of current stock, identifying foreign and domestic suppliers, and keeping abreast of changes affecting both the supply of, and demand for, needed products and materials.
Related job titles are: Buyer, Purchasing Agent, Procurement Specialist, or Purchasing Manager.
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Important Purchasing Manager and Buyer Degree Information -Top of Page-
- About 42 percent of purchasing managers, buyers, and purchasing agents are employed in wholesale trade or manufacturing establishments.
- Opportunities should be best for those with a college degree in engineering, business, economics, or one of the applied sciences.
- Prospects often need continuing education or certification to advance.
How much does a Purchasing Manager and Buyer make in Salary? || Purchasing Manager and Buyer Pay -Top of Page-
Median annual wages of purchasing managers were $89,160 in May 2008. The middle 50 percent earned a salary of between $67,370 and $115,830.
Median annual wages of purchasing agents and buyers of farm products were $49,670 in May 2008. The middle 50 percent earned a salary of between $37,930 and $67,440.
Median annual wages of wholesale and retail buyers, except farm products, were $48,710 in May 2008. The middle 50 percent earned a salary of between $36,460 and $66,090.
Median annual wages of purchasing agents, except wholesale, retail, and farm products, were $53,940 in May 2008. The middle 50 percent earned a salary of between $41,670 and $70,910.
What Does a Purchasing Manager and Buyer Do?
Purchasing Manager and Buyer Jobs, Job Description, and Responsibilities -Top of Page-
There are several major types of purchasing managers, buyers, and purchasing agents. Wholesale and retail buyers purchase goods, such as clothing or electronics, for resale. Purchasing agents buy goods and services for use by their own company or organization. Purchasing agents and buyers of farm products purchase goods such as grain, Christmas trees, and tobacco for further processing or resale. Purchasing managers usually handle more complicated purchases and may supervise a group of purchasing agents. Purchasing professionals employed by government agencies or manufacturing firms usually are called purchasing directors, managers, or agents; sometimes they are known as contract specialists. Purchasing professionals in government place solicitations for services and accept bids and offers through the Internet. Some purchasing managers, called contract or supply managers, specialize in negotiating and supervising supply contracts.
Purchasing specialists who buy finished goods for resale are employed by wholesale and retail establishments, where they commonly are known as buyers or merchandise managers. Wholesale and retail buyers are an integral part of a complex system of distribution and merchandising that caters to the vast array of consumer needs and desires. Wholesale buyers purchase goods directly from manufacturers or from other wholesale firms for resale to retail firms, commercial establishments, and other organizations. In retail firms, buyers purchase goods from wholesale firms or directly from manufacturers for resale to the public.
Purchasing professionals often work closely with other employees in a process called “team buying.” For example, before submitting an order, the team may discuss the design of custom-made products with company design engineers, the problems involving the quality of purchased goods with production supervisors, or the issues in shipping with managers in the receiving department. This additional interaction improves the quality of buying by adding different perspectives to the process.
Working Conditions for Purchasing Managers and Buyers -Top of Page-
Most purchasing managers, buyers, and purchasing agents work in comfortable offices. They frequently work more than the standard 40-hour week, because of special sales, conferences, or production deadlines. Evening and weekend work also is common before holiday and back-to-school seasons for those working in retail trade. Consequently, many retail firms discourage the use of vacation time during peak periods. Travel is sometimes necessary. Purchasers for worldwide companies may even travel outside the United States.
How to become a Purchasing Manager and Buyer || Purchasing Manager and Buyer Classes and Degree Programs -Top of Page-
Educational requirements tend to vary with the size of the organization. Large stores and distributors prefer applicants who have completed a bachelor's degree program with a business emphasis. Many manufacturing firms put an even greater emphasis on formal training, preferring applicants with a bachelor's or master's degree in engineering, business, economics, or one of the applied sciences. A master's degree is essential for advancement to many top-level purchasing manager jobs.
Purchasing managers, buyers, and purchasing agents must know how to use various software packages and the Internet. Other important qualities include the ability to analyze technical data in suppliers' proposals; good communication, negotiation, and mathematical skills; knowledge of supply-chain management; and the ability to perform financial analyses.
Regardless of industry, continuing education is essential for advancement. Many purchasing managers, buyers, and purchasing agents participate in seminars offered by professional societies and take college classes in supply management. Professional certification is becoming increasingly important, especially for those just entering the occupation.
Where are the Purchasing Manager and Buyer Jobs? -Top of Page-
Purchasing managers, buyers, and purchasing agents held about 527,400 jobs in 2008. About 42 percent worked in the wholesale trade and manufacturing industries and another 10 percent worked in retail trade. The remainder worked mostly in service establishments, such as management of companies and enterprises or professional, scientific, and technical services.
Purchasing Manager and Buyer Job Opportunities and Outlook -Top of Page-
Overall employment of purchasing managers, buyers, and purchasing agents is expected to increase 7 percent during the 2008-18 decade, which is as fast as the average for all occupations. Employment of purchasing agents, except wholesale, retail, and farm products—the largest employment group in the industry—will experience faster than average growth as more companies demand a greater number of purchased goods and services.