How to Become a Purchasing Manager

How to Become a Purchasing Manager

The Basics of Becoming a Purchasing Manager

Are you investigating how to become a Purchasing Manager and want to know a little more about the career? The main job of Purchasing Managers (or Buyers) is to oversee the buying, selling, and distribution of goods and services for an organization. They negotiate contracts with suppliers, direct purchasing officers and find vendors. Purchasing Managers also evaluate suppliers based on price, quality and speed. They analyze price proposals and financial information to determine a reasonable price for goods and services. They also examine distribution centers, ensure compliance with contracts, and maintain records of costs and inventories.

According to the Bureau of Labor Statistics, most Purchasing Managers have a bachelor’s degree in business. Others may have a master’s degree in a more technical field such as engineering or applied science.

What is the most important decision you make as a Purchasing Manager?

As a purchasing manager, you make a lot of really important decisions that all factor into one major goal: That the products our customers want are fully stocked at any given time. Different decisions we make to get to this goal are predicting new products we think our customers will like; how we forecast sales for our current products to stay fully stocked; and selecting the trends and themes we think the company should go after for marketing.
Julie Schieferstein, Merchandising Manager
Click To Tweet!click to tweet
- Julie Schieferstein, Merchandising Manager One Click

A Purchasing Manager's Salary Potential

  • Lowest 10th%
    $71,450
  • Median
    $121,110
  • Highest 90th%
    $193,400

 

States with the Highest Employment Levels

STATES2019 ANNUAL MEAN WAGENUMBER OF JOBS
California$142,3507,830
Texas$137,6706,150
Illinois$120,1704,380
New York$158,5604,310
Florida$112,3203,270
 
 

How Do Your Skills Stack Up?

Day to day life of a Purchasing Manager; how to become a purchasing manager

As reported by O*NET, these traits are ranked as either extremely or very important to the day to day life of a Purchasing Manager.

What You Will Learn With a Business Degree?

Schools that offer a bachelor's degree in business may cover basic business classes such as:

  • Business Communications
  • Principles of Management
  • Business Law for Commercial Transactions
  • Strategic Management
  • Marketing Management

These degrees will get an overview of many functions in the business world and base your studies on how these functions interact. Students will touch on subjects like Marketing, Sales, and Operations Management just to name a few. Business students typically learn how to adapt business strategies to the ever-changing marketplace. More importantly, business students will get real-world experience that can make the transition from school to career a breeze.

The Key to Being a Successful Fashion Buyer

Buying clothes for a living sounds like a dream job for most - but there's much more on how to become a Purchasing Manager than just shopping. Buying requires a lot of analysis. According to Confessions of a Fashion Buyer, the keys to becoming a successful Fashion Buyer are developing a deep knowledge of:

  • Trending Markets: Who is your Target Customer? What are their preferences?
  • Trending Brands: Where on the trend curve does a brand fall - is it peaking, or starting to decline?
  • Trending Items: How does a specific item drive business? Is it seasonal or basic? What demographics drive the sales for this item?
  • Market Share: Conduct thorough competitor analysis
  • Exiting Options: How do you clear out underperforming brands/products in order to introduce something new?
  • Congruent Businesses: Could customers be driven to buy multiple products/lines/brands together?
  • Foreign and Domestic Affairs: Are there any world events happening or coming up that can help/hurt your business both domestically and internationally?

FAQs About How to Become a Purchasing Manager

What is the average salary a Purchasing Manager makes?

According to the BLS, the 2019 median annual wage for Purchasing Managers was $121,110.

Do Purchasing Managers need to be certified?

Purchasing Managers do not need to be certified. However it may boost your chance of getting hired at certain jobs. The Institute for Supply Management offers the Certified Professional Supply Management credential. A Purchasing Manager can also be a Certified Purchasing Professional, Certified Supply Chain Professional or Certified Purchasing Officer.

What are common types of software I would have to learn as a Purchasing Manager?

Purchasing Managers use a variety of procurement, project management and enterprise resource planning software, including Ariba Spend Management Suite, Microsoft Project, and Oracle PeopleSoft.

What skills do Purchasing Managers possess?

Purchasing Managers are usually proficient in areas such as coordination, active listening, negotiation, social perceptiveness, time management, as well as judgment and decision making.

What types of personalities are a good fit for becoming a Purchasing Manager?

For purposes of this answer, we are going to reference Carl Jung's 16 personality types as described by PersonalityMax.com. It is very likely that many Purchasing Managers will fall into the ENTJ (Extroverted, Intuition, Thinking, Judging) personality type, which is a good fit for a Purchasing Manager. ENTJs have excellent communication skills and are very rational. They are responsible and organized. ENTJs are very logical and efficient. They are natural leaders who can direct others with ease.
 

Job information sourced from O*NET

© 2003 - 2024 EarnMyDegree.com
All rights Reserved

The sources for school statistics and data is the U.S. Department of Education's National Center for Education Statistics and the Integrated Postsecondary Education Data System unless otherwise noted. 

Disclosure: EducationDynamics receives compensation for the featured schools on our websites (see “Sponsored Schools” or “Sponsored Listings” or “Sponsored Results”). So what does this mean for you? Compensation may impact where the Sponsored Schools appear on our websites, including whether they appear as a match through our education matching services tool, the order in which they appear in a listing, and/or their ranking. Our websites do not provide, nor are they intended to provide, a comprehensive list of all schools (a) in the United States (b) located in a specific geographic area or (c) that offer a particular program of study. By providing information or agreeing to be contacted by a Sponsored School, you are in no way obligated to apply to or enroll with the school.

This is an offer for educational opportunities, not an offer for nor a guarantee of employment. Students should consult with a representative from the school they select to learn more about career opportunities in that field. Program outcomes vary according to each institution’s specific program curriculum. Financial aid may be available to those who qualify. The information on this page is for informational and research purposes only and is not an assurance of financial aid.