To be effective, purchasing agents and buyers must have a working technical knowledge of the goods or services they are purchasing.Įvaluating suppliers is one of the most critical functions of a buyer or purchasing agent. Purchasing agents and buyers consider price, quality, availability, reliability, and technical support when choosing suppliers and merchandise. They do this by studying sales records and inventory levels of current stock, identifying foreign and domestic suppliers, and keeping up to date with changes affecting both the supply of, and demand for, products and materials. They try to get the best deal for their organization: the highest quality goods and services at the lowest cost. These policies help ensure that procurement professionals are meeting ethical standards to avoid potential conflicts of interest or inappropriate supplier and customer relations.īuyers and purchasing agents buy farm products, durable and nondurable goods, and services for organizations and institutions. Purchasing managers are also responsible for developing their organization’s procurement policies and procedures. In addition to these tasks, purchasing managers also plan and coordinate the work of buyers and purchasing agents and hire and train new staff. Maintain and review records of items bought, costs, deliveries, product performance, and inventories.Evaluate and monitor contracts to be sure that vendors and suppliers comply with the terms and conditions of the contract and to determine the need for changes.Meet with staff and vendors to discuss defective or unacceptable goods or services and determine corrective action.Work out agreements with suppliers, such as when products will be delivered.Negotiate contracts on behalf of their organization.Analyze price proposals, financial reports, and other information to determine reasonable prices.Attend meetings, trade shows, and conferences to learn about new industry trends and make contacts with suppliers.Interview vendors and visit suppliers’ plants and distribution centers to examine and learn about products, services, and prices.Evaluate suppliers on the basis of the price, quality, and speed of delivery of their products and services.Purchasing managers and buyers and purchasing agents typically do the following: Purchasing managers oversee the work of buyers and purchasing agents and typically handle more complex procurement tasks. They evaluate suppliers, negotiate contracts, and review the quality of products. Purchasing agents and buyers consider price, quality, availability, reliability, and technical support when choosing suppliers and merchandise.īuyers and purchasing agents buy products and services for organizations to use or resell. Learn more about purchasing managers, buyers, and purchasing agents by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations. More Information, Including Links to O*NET Similar OccupationsĬompare the job duties, education, job growth, and pay of purchasing managers, buyers, and purchasing agents with similar occupations. Overall employment of purchasing managers, buyers, and purchasing agents is projected to decline 6 percent from 2021 to 2031.ĭespite declining employment, about 47,400 openings for purchasing managers, buyers, and purchasing agents are projected each year, on average, over the decade.Īll of those openings are expected to result from the need to replace workers who transfer to other occupations or exit the labor force, such as to retire.Įxplore resources for employment and wages by state and area for purchasing managers, buyers, and purchasing agents. The median annual wage for purchasing managers was $127,150 in May 2021. The median annual wage for buyers and purchasing agents was $63,470 in May 2021. Purchasing managers must also have a few years of work experience. How to Become a Purchasing Manager, Buyer, or Purchasing Agentīuyers and purchasing agents typically have a bachelor’s degree. Most purchasing managers and buyers and purchasing agents work full time. Purchasing managers oversee the work of buyers and purchasing agents. What Purchasing Managers, Buyers, and Purchasing Agents Doīuyers and purchasing agents buy products and services for organizations. Quick Facts: Purchasing Managers, Buyers, and Purchasing Agents Please enable javascript to play this video.
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