Job Description of Purchasing Analysts
Most purchasing analysts typically work for a logistics organization analyzing the purchasing of items and goods for resale through supply chain functions. The analyst is responsible for monitoring all the processes involved from the purchase of an item to the shipment of the item and storage of the item for redistribution or sale. A purchasing analyst is also called a procurement analyst, supply chain analyst or procurement auditor.
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General Duties
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A purchasing analyst's main job duty is to assess the effectiveness of a supply chain system pertaining to supplier relationships to the organization he or she works for. The purchasing analyst ensures that the strategic goals, policies and procedures of the organization are followed when carrying out procedures to purchase items. The purchasing analyst keeps a record of all supplier performance reports and intervenes if there is a dispute between the supplier and the organization concerning items, prices, shipments and distributed products.
Skills
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A purchasing analyst must have strong analytical, arithmetic and communication skills and must have a strong background in business management. The purchasing analyst usually works in an environment with buyers, purchasing clerks and purchasing managers. Most large logistical organizations have a supply chain MIS system and the analyst must know how to obtain specialized reports from the system. Computer applications knowledge is also a required skill.
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Salary
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According to PayScale.com, the annual median salary for a purchasing analyst with 10 to 19 years experience was $54,327 to $83,127 as of 2010. In most organizations, the purchasing analyst officer pay is equivalent to a purchasing manager, purchasing director or procurement analyst. A purchasing analyst typically works 40 hours per week.
Employment Outlook
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According to the Bureau of Labor Statistics, overall employment of purchasing managers, buyers, and purchasing agents is expected to increase 7 percent from 2008 to 2018. According to the report, about 42 percent of purchasing managers, buyers, and agents are employed in wholesale trade or manufacturing establishments.
Educational Requirements
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The educational requirements for a position as a purchasing analyst are a bachelor's of science or bachelor of arts degree in supply chain or logistics management. Experience in creating and negotiating logistics service contracts with three to five years of work experience is desired by most organizations.
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References
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