Explore the critical requirements, core duties, primary responsibilities, and key skills that should be included in a comprehensive Procurement Analyst job description.
What does a Procurement Analyst do?
A procurement analyst helps companies negotiate favorable contracts with suppliers. They work closely with internal departments and suppliers to ensure that the company gets the best deals for their products and services. Procurement analysts are important for organizations that rely on supply chain management to sell their products.
Job Description
We are seeking an innovative procurement analyst to source vendors and suppliers for our company. In this role, you will be responsible for communicating with internal departments and suppliers, evaluating and comparing product samples, and negotiating contracts on behalf of our company.
To excel in this role, you should have extensive experience in procurement and a deep understanding of supply chain management. A top-notch procurement analyst will be able to use their industry knowledge to find cost-effective solutions for the company.
Job Duties and Responsibilities
- Determine the company's supply needs and research potential suppliers
- Act as a liaison between internal departments and suppliers, communicating pricing and performance needs
- Source suppliers and test product samples
- Document the features and benefits of products and services
- Prepare cost-benefit analysis reports for management review
- Negotiate favorable contracts with selected vendors and suppliers
- Document processes and generate monthly supply cost reports
- Monitor company's product demand to avoid supply shortages
- Stay updated on vendor and supplier activities in the industry
Requirements and Qualifications
- Bachelor's degree in finance, business, business administration, or accounting
- An MBA in supply chain management is a plus
- At least 5 years of experience in procurement analysis in a related industry
- Proficiency in electronic procurement and analytical software
- In-depth knowledge of business management, supply chain, and strategic sourcing
- Advanced analytical and negotiation skills
- Excellent interpersonal and communication abilities
Alternative Careers and Similar Jobs to a Procurement Analyst
Apply for Procurement Analyst Positions - Explore the Latest Job Listings