What Are the Duties of a Purchasing Agent?
The work done by purchasing agents, also called buyers, can greatly affect how much profit a business makes for the year. It is their job to make sure a company spends as little as possible for the supplies that it uses in order to create as large a profit as possible, but they must also take into account the quality of the products they are purchasing. Lower-quality supplies may result in substandard products.
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Basic Duties
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The main job of a purchasing agent is to buy any goods, services or materials needed for a company to maintain successful production of its products or services and an orderly work environment. Agents must meet and bargain with outside contractors who are offering services or products of interest to the company. The main challenge is to buy high-quality supplies and services at reasonable costs. Many U.S. companies are buying more and more supplies from other countries to save money. For this reason, some companies specifically seek bilingual purchasing agents who can handle international business affairs.
Responsibilities
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A purchasing agent must be extremely business-minded, always striving to get the best deal on a product or service. She must stay current with the most popular products and services available and stay aware of constant price changes. It is up to a purchasing agent to make sure a business never runs out of supplies, which would end up costing the company money due to decreased production. All aspects of a purchase must be considered, from quantity to cost to delivery fees and times to the cost of paying workers to unload the items. Agents must be great at multi-tasking, since they may handle many projects and business dealings at one time.
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Career Details
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Many large corporations, businesses, hospitals, schools and government facilities employ purchasing agents. An agent must maintain contact with all departments of a company in order to keep up with what supplies are needed. The website stateuniversity.com states that many agents hire expediters who serve as assistants in completing paperwork, taking inventory and other details. While some businesses hire only one purchasing agent, other large corporations may employ as many as 100.
Education
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A minimum of a bachelor's degree in business administration is needed to become a purchasing agent. Most purchasing agents undergo training upon being hired. Larger companies prefer to hire those with master's degrees. Depending upon the company, a purchasing agent may need more technical knowledge about the particular supplies regularly needed. In this case, some additional education in other fields (such as medicine or science) may be required. Certifications are also available.
Job Outlook and Pay
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Because of computers and the Internet, purchasing agents can research products and compare prices more quickly and efficiently, reducing the amount of time they need to do their jobs. This has led to a decline in the need for purchasing agents, according to stateuniversity.com. The U.S. Bureau of Labor Statistics expects little to no growth in the occupation through 2016. A purchasing agent's salary depends upon experience and company size. The average annual salary for those not involved in wholesale, retail or farm products in May 2006 was $39,000 to $66,730, according to the BLS.
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References
- Photo Credit Image by Flickr.com, courtesy of Kevin Dooley
