A Procurement or Purchase Manager is a specialist who oversees an organization’s purchasing of products and services. A Purchasing Manager’s position is critical for an organization because he or she researches and discovers the goods and services that a business requires, and then negotiates the best price for those items. Purchase managers are responsible for keeping track of all of an organization’s transactions as well as the costs associated with those purchases.
Let us look at all the details for building Career as a Purchase Manager.
Who is a Purchase manager?
A Purchase Manager is a professional who is responsible for the following activates in an organization –
- Managing the purchase of goods and services for an organization.
- He researches and finds out the good and services needed by a company, and then negotiates the purchase of those products at the best possible price.
- Purchase Managers are required to keep a track of all of the purchases made by an organization and the costs associated with those purchases.
- They are required to keep a track of the inventory and stock availability of an organization in order to effectively execute their duties and responsibilities as a Purchase Manager.
Qualities required to be a good purchase manager
There are endless qualities in a human being which can make him fit into any role he decides to fit in. However, some of the qualities that are required to be a good purchase manager are –
- Firstly, Financial Management skills
- Also, good management skills
- Subsequently, market researching tactics
- In addition, negotiation skills
- Also, communication skills
- And, marketing capabilities
- Proper knowledge of subjects as mathematics, economics, logistics, supply chain etc.
Roles and responsibilities
A Purchase Manager is responsible for undertaking the following responsibilities in an organization.
- Firstly, Coordinate with vendors and supplies for gathering information, placing orders, checking for updates on delivery etc.
- Also, Coordinating with various internal departments to gauge requirements for orders and inventory.
- In addition, Ensuring that the delivered goods are meeting the quality standards and negotiating the returns in case any defects or discrepancies are observed.
- Purchasing Managers link with various stakeholders for ensuring clear requirements documentation. Moreover, they forecast price and market trends for identifying changes of balance in buyer-supplier power.
- They also perform cost and scenario analysis and benchmarking as well as assess, manage, and mitigate risks.
- Further, they manage daily purchasing activities, supervising staff, and allocating tasks.
- Lastly, Ensuring that the vendors work in compliance with the contract and company policies.
Career Paths for being a Purchase manager
You can adopt any of the following ways –
Undergraduate courses such as BA Economics, BBA etc. –
You can get an undergraduate degree right after completing your class 12th. You can begin your career in this field through this and after getting started, you will be promoted to the position of a purchase manager after some time.
Post Graduation courses such as PGDM in Purchase and Logistics –
Specialization helps you to get advanced knowledge of the field and helps you to perform better. Going for post graduation in this field becomes essential after a point of time. However, it is highly recommended that candidates gain some practical experience of purchase Management before they go for a master’s degree course. You can go for PGDM in purchase management or a masters in business administration.
Certification courses from trusted vendors as Vskills, Udemy, Coursera etc. –
The certification courses from various vendors as Vskills, Udemy, Coursera etc. are becoming very popular. The certifications have emerged as real currency of 21st century which can be used to secure a real job. Many companies hire the certified candidates. Certification also help you get an edge over others in the same domain no matter if you are already working in this domain or have started fresh in this domain. Some of the certification which are very much popular are –
- Certified International Procurement Professional (CIPP) & Certified International Procurement Professional (CIAPP)
- Also, Certified Professional in Supply Management (CPSM)
- In addition, Member of the Chartered Institute of Procurement & Supply (MCIPS)
Various other diploma courses –
You can also take the diploma in this field which will help you to gain sufficient knowledge about the field but in relatively less time as compared to a degree. You can take the diploma from any prestigious college or university which can also help you to secure job in a reputed company without much pressure.
Practice different Projects
You must practice if you want to be good. It’s also the most effective way to access one’s understanding and know where you’re headed in terms of putting what you’ve learned into practice. Getting some experience in practical aspects such as applying purchase management in projects will help you stand out from the crowd.
You can supplement your learning with the help of reading the blogs and tutorials by various sites which will help you to grasp a better understanding of the practical aspects.
Implement your skills in Real world
Execution of the ability you’ve mastered is vital because that’s why you learned in the first place – to perfect the skill! You must also remain up to date with latest technical developments and continue to work and improve your own skills. Any of the technical courses can also be used to show that you have a comprehensive understanding of advanced skills. You can put your talents to use in a variety of ways, including:
- Freelancing
- Internships
- Apprenticeship programs
Above mentioned steps will help you to get started in this domain. However, there is a long way to go. You can take up an advanced course to take your skills to a new level.
Market demand and Average Salary
A Purchase Manager can get employment in various manufacturing units as well as in different companies like Shalimar Paints Ltd, Omaxe Limited, TeamLease Services Limited, Vatika Group, Adecco India, L&T. Also, the sectors which have a high demand for a purchase manager are –
- Manufacturing Companies
- also, Departmental / Convenience Stores
- in addition, Export Houses
- also, Production Houses
- moreover, Fashion Retail
- Healthcare Products and Service Delivery Companies
- also, Educational Institutions etc.
However, the salary growth is accelerated as a professional moves out of the trainee phase. The average salary earned by a Purchase Manager in India is around INR 8 LPA. Purchase Managers holding senior-level positions can earn salaries of around INR 10 – 12 LPA.
Why become a Certified Purchase manager?
You can chose to become a purchase manager because –
- Firstly, this Job does not require a high level of educational qualification. Graduates in any stream can get into this field.
- Secondly, Career opportunities are not limited to a single sector of industries and candidates can look for diverse opportunities as per the likes.
- Even though the initial salary may be a bit low, senior-level positions have excellent salaries and higher education may not be necessary.
Upgrade your skills ang boost your career by becoming a certified purchase manager. Hurry up and start preparing now!
