Purchasing Management
The purchasing management
Purchasing management directs the flow of goods and services in a company and handles all data relating to contact with suppliers. Effective purchasing management requires knowledge of the supply chain, business and tax laws, invoice and inventory procedures, and transportation and logistics issues. Although a strong knowledge of the products and services to be purchased is essential, purchasing management professionals must also be able to plan, execute, and oversee purchasing strategies that are conducive to company profitability.
Sourcing reliable suppliers is a crucial part of purchasing management. Purchasing managers, agents, and buyers usually learn about new products and services from Internet searches, trade shows, and conferences. They meet with potential suppliers in their plants whenever possible. Skills in foreign languages may be helpful for sourcing suppliers in other countries. Purchasing management professionals must always assess potential suppliers in terms of the supplier's ability to deliver quality merchandise at a suitable price on time.
Purchasing management professionals must be good negotiators, understand technical product information, have good mathematical ability, understand spreadsheet software, understand marketing methodology, and be outstanding decision makers. Increased responsibilities in purchasing management require good leadership skills, and higher positions often require a master's degree in a business related subject. Entry level purchasing management positions such as junior buyers, assistant buyers, and purchasing clerks, often require a college degree and some product knowledge.
Larger distributors may require a bachelor's degree for entry level purchasing management positions. Training and learning typically start in sales, then supervision, and invoice and stock monitoring. Professional purchasing management designations include Certified Purchasing Professional (CPP) in the United
Purchasing management directs the flow of goods and services in a company and handles all data relating to contact with suppliers. Effective purchasing management requires knowledge of the supply chain, business and tax laws, invoice and inventory procedures, and transportation and logistics issues. Although a strong knowledge of the products and services to be purchased is essential, purchasing management professionals must also be able to plan, execute, and oversee purchasing strategies that are conducive to company profitability.
Sourcing reliable suppliers is a crucial part of purchasing management. Purchasing managers, agents, and buyers usually learn about new products and services from Internet searches, trade shows, and conferences. They meet with potential suppliers in their plants whenever possible. Skills in foreign languages may be helpful for sourcing suppliers in other countries. Purchasing management professionals must always assess potential suppliers in terms of the supplier's ability to deliver quality merchandise at a suitable price on time.
Purchasing management professionals must be good negotiators, understand technical product information, have good mathematical ability, understand spreadsheet software, understand marketing methodology, and be outstanding decision makers. Increased responsibilities in purchasing management require good leadership skills, and higher positions often require a master's degree in a business related subject. Entry level purchasing management positions such as junior buyers, assistant buyers, and purchasing clerks, often require a college degree and some product knowledge.
Larger distributors may require a bachelor's degree for entry level purchasing management positions. Training and learning typically start in sales, then supervision, and invoice and stock monitoring. Professional purchasing management designations include Certified Purchasing Professional (CPP) in the United