What is a Procurement Manager?
A Procurement Manager sources products and services for a company. They create a buying strategy that takes into account the company budget and necessary supplies and then they find matching vendors. Their day includes meetings with superiors, like the Chief Financial Officer (CFO) or the Chief Operating Officer (COO). Generally, supervisors task Procurement Managers with finding suppliers that meet demands at the right price.
In larger companies, a Procurement Manager may oversee a small team of buyers. In smaller companies, the Procurement Manager job description will likely include both strategy and purchasing.
- Bachelor’s degree in business administration or a similar field
- Minimum of 1-2 years of experience as a buyer
Procurement Manager Essential Skills
- Strong research skills
- Analytical skills
- Ability to negotiate contracts
- Proficiency in inventory and RFP management software
Procurement Manager Roles & Responsibilities
- Meet with supervisors and department heads to understand the needs across the company
- Forecast needs and supplies
- Review requests for proposals (RFPs)
- Review and negotiate contracts with vendors and suppliers
- Delegate tasks to the procurement team (at a larger company)
- Train new employees and support team members as necessary (at a larger company)
- Research suppliers and vendors that meet the goals of the company
- Find suppliers that have certain certifications, accreditation, and insurance, along with a steady stream of materials that fit within budget restraints
- Manage inventory
- Ensuret partners continue to meet company needs
- Collect and analyze data to ensure the company is making the best decisions
- Balance department budgets with needs