{"id":418,"date":"2014-05-05T14:47:59","date_gmt":"2014-05-05T14:47:59","guid":{"rendered":"http:\/\/bisk-preprod.go-vip.co\/msu\/2014\/04\/30\/purchasing-manager-career-outlook-and-salary\/"},"modified":"2021-04-15T21:24:25","modified_gmt":"2021-04-15T21:24:25","slug":"purchasing-manager-career-outlook-and-salary","status":"publish","type":"post","link":"https:\/\/bisk-preprod.go-vip.co\/msu\/resources\/supply-chain\/purchasing-manager-career-outlook-and-salary\/","title":{"rendered":"Purchasing Manager Career and Salary Outlook"},"content":{"rendered":"

The growth of supply chain management programs<\/a> has provided an opportunity for career growth in a variety of supply chain fields and functions, many of which play a vital role in the organizations powering today\u2019s global economy. The purchasing manager is one such role with an important position in the supply chain.<\/p>\n

What is a Purchasing Manager? <\/h2>\n

Purchasing managers are an important link in the supply chain, serving as the professionals who are ultimately responsible for procuring the highest quality goods and services at the best possible prices, which is an important contribution to the business\u2019 cost-efficiencies.  Since more than two-thirds of a company\u2019s revenues can be spent on purchased products and services, a skilled purchasing manager can have a huge impact on profitability.<\/p>\n

Supply chain management requires overseeing and executing on a number of physical and service processes, and the purchasing manager plays a pivotal role in working with suppliers and supply chain partners to provide a combination of products, services, and solutions.<\/p>\n

The role brings strong management skills to the area of procurement<\/a> with a cross-functional understanding of operations management<\/a>, logistics<\/a> and even information technology.<\/p>\n

What Does a Purchasing Manager Do? <\/h2>\n

One of the key responsibilities of purchasing managers includes identifying and evaluating prospective suppliers. In this process, a purchasing manager will consider the supplier\u2019s track record of satisfactorily producing quality products in the required amounts and delivering the goods on time. While cost-effectiveness is an important aspect, purchasing managers will also weigh suppliers on other factors, such as sustainability, risk management and whether the supplier maintains an ethical track record. Once a prospective supplier has been vetted, evaluated and chosen, the purchasing manager will be responsible for negotiating the contract.<\/p>\n

Other activities vary according to the business type, size, and location, along with the purchasing manager\u2019s level of responsibilities. Those in more senior level positions may be responsible for purchasing strategy, as well as forecasting demand for products and services and pricing trends. They may also liaise between suppliers, manufacturers, internal teams and customers, and process payments.<\/p>\n

Purchasing Manager Salary and Career Growth <\/h2>\n

The rise of automation, e-procurement and digitalization are transforming job functions within procurement. The U.S. Bureau of Labor Statistics<\/a> (BLS) projects an overall seven percent decline in the employment of purchasing managers, buyers and purchasing agents from 2019 to 2029, \u201cas procurement technology continues to improve [and] less complex procurement functions, such as finding suppliers or processing purchase orders, will likely be automated.\u201d*<\/p>\n

Purchasing managers may be the employment bright spot in procurement, as these roles are \u201cprojected to increase because they will continue to be needed to help procure goods and services for business operations or for resale to customers.\u201d<\/p>\n

Even as digital transformation and automation impact procurement roles and job duties, salary levels remain strong. According to the BLS<\/a>, the median annual wage for purchasing managers stands at $121,110, as of May 2019.<\/p>\n

In their Annual Salary Survey for 2020, Logistics Management<\/strong><\/a> reported a median annual salary of $82,000 and average annual salary of $114,370 for purchasing and procurement managers\/directors.<\/p>\n

How to Become a Purchasing Manager<\/h2>\n

A bachelor\u2019s degree and a few years of work experience in procurement is typically required for purchasing manager positions. BLS data<\/a> indicates purchasing managers typically have at least five years of experience as a buyer or purchasing agent before moving up into management. Degrees in supply chain management, business administration, accounting, finance or a related field are the most common. Some employers may require their purchasing managers to obtain a master’s degree<\/a>. <\/p>\n

The field of purchasing management requires individuals to maintain and grow their knowledge and capabilities through continuing education<\/a> and professional development. Specialized certificate programs<\/a> and courses can be an accessible starting point for continual learning, particularly for working professionals and those looking to quickly gain knowledge as they take on greater responsibilities or make a career change.<\/p>\n

With the right education, training, and experience, purchasing managers can look to a bright career in a number of industry sectors, including manufacturing, government agencies, enterprise management and retail or wholesale trade.<\/p>\n

See how MSU\u2019s Supply Chain Management Certificate Programs can help to strengthen your skills and knowledge in areas such as procurement, purchasing and logistics.<\/em><\/strong><\/p>\n\n\n

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Explore Certificate Tracks<\/a><\/div>\n<\/div>\n\n\n\n

*National long-term projections may not reflect local and\/or short-term economic or job conditions and do not guarantee actual job growth. Information provided is not intended to represent a complete list of hiring companies or job titles, and degree program options do not guarantee career or salary outcomes. Students should conduct independent research on specific employment information.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Purchasing Managers: Learn all about career outlook, job description, salary, responsibilities, education and training required for Purchasing Managers at Michigan State University.<\/p>\n","protected":false},"author":60,"featured_media":1972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[8],"tags":[],"class_list":["post-418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-supply-chain"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-content\/uploads\/sites\/3\/2014\/05\/purchasing-manager.jpg","jetpack_shortlink":"https:\/\/wp.me\/pa8xwI-6K","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/posts\/418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/comments?post=418"}],"version-history":[{"count":10,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/posts\/418\/revisions"}],"predecessor-version":[{"id":9408,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/posts\/418\/revisions\/9408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/media\/1972"}],"wp:attachment":[{"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/media?parent=418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/categories?post=418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bisk-preprod.go-vip.co\/msu\/wp-json\/wp\/v2\/tags?post=418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}