There are many positions in the administration field, and the job of a purchasing manager is one of them. He is a professional who is mainly an expert in material management and price negotiations. His main duty is to buy goods and products for the company he is providing services in.
His aim is to buy quality products at the best possible price for saving the administrative costs of the facility of employment. These professionals can be employed in various companies, such as retailing, medical care, government agencies, educational institutions, etc. Here are the details of purchasing manager role and resposibilities.
Duties and Responsibilities
- He has to keep a track of the quality of products and services, brands, and the ongoing price of those goods. This helps in determining the best source for acquiring goods for his employer.
- He has to keep a detailed record of the inventory of goods stored with the company for its use.
- He also checks the available products in the inventory and deals in the procedures of faulty product replacement from the supplier.
- He has to meet with the sales and marketing executives of the product manufacturing firm to understand about any new products available in the market.
- He carries out a detailed market research and survey to find what quality products are available and what prices are appropriate to be paid for the buy.
- He has to record the goods and services offered, ordered, and obtained. If he comes to know that there is a surplus stock accumulated in the company inventory, he needs to take the necessary steps to dispose it off without affecting the cost.
- He also needs to be good in calculations, product management, manpower handling, etc.
- Financial management skills are very essential.
- If you are thinking of a career in this field, you will need to have a degree in marketing or business management.
- Profitable decision-making is a very important requirement that is needed in this field.
The average of annual pay of a Purchasing Manager varies depending upon his/her work experience. Here is how it changes:
- 1 to 4 years' experience or a fresher: US $54,200
- 5 to 9 years' experience or mid-career: US $64,400
- 10 to 20 years' experience or experienced: US $70,200
- More than 20 years' experience or late-career: US $75,312
A Purchasing Manager's salary also changes according to the state he/she works in. Here is an overview of top paying states and annual mean wage they offer:
- New Jersey: around US $161,130
- Missouri: around US $143,470
- New York: around US $141,240
- South Dakota: around US $137,740
- Colorado: around US $137,690
This was general information about Purchasing Managers' work profile, requirements and salaries they fetch. So, keep the key points in mind while planning your actions for your career ahead.