Gain insight into the essential qualifications, important duties, key responsibilities, and vital skills that form a well-rounded Commodity Manager job description.
What does a Commodity Manager do?
A commodity manager is a professional responsible for managing the purchase of commodities for a company's supply chain. They work closely with vendors, evaluate market conditions, and supervise department personnel to ensure efficient and effective procurement.
Job Description
We are seeking a resourceful commodity manager to join our team. In this role, you will be responsible for overseeing commodity purchasing, updating our inventory strategy, and maintaining strong relationships with suppliers to ensure a stable supply chain. It will also be your responsibility to ensure that the company stays within budget for approved projects.
Job Duties and Responsibilities
- Source, review, and purchase commodities for the company's supply chain.
- Update inventory strategies to increase sales and manage stock levels.
- Evaluate and recommend new vendors to management.
- Negotiate favorable prices and terms with vendors.
- Maintain good relationships with commodity suppliers and distributors.
- Monitor market trends and identify potential risks in sourcing and procuring commodities.
- Ensure adherence to project-approved budgets.
- Supervise department personnel in preparing contracts and purchase orders.
- Resolve vendor disputes and address any commodity-related issues.
Requirements and Qualifications
- Bachelor's degree in supply chain management, economics, or a related field.
- At least four years of experience in supply chain or commodity management.
- Strong knowledge of financial markets and their impact on commodity prices.
- Experience with commodity trading and risk management software.
- Excellent negotiation and communication skills.
- Advanced analytical abilities.
- Strong leadership skills and the ability to work well with personnel from different departments.
Alternate Job Titles
- Commodities Manager
- Commodities Purchasing Manager
- Materials Procurement Manager
- Strategic Commodity Purchasing Manager
Commodity Manager Salary
The earning potential of a Commodity Manager can vary significantly based on factors such as geographic location, industry, professional experience, educational background, and the specific employer. On average, the annual salary for an Commodity Manager in the United States is approximately $126086.