What Is a Procurement Analyst Job?
A procurement analyst is a professional who works in an organization's procurement department. The primary role of a procurement analyst is to analyze procurement data, identify trends and patterns, and make recommendations based on their findings. They are responsible for ensuring that the organization's procurement process is cost-effective, efficient, and meets the organization's needs.
What Usually Do in This Position?
As a procurement analyst, your responsibilities will include collecting, analyzing, and interpreting procurement data, monitoring and analyzing procurement trends, reviewing vendor contracts, identifying cost-saving opportunities, and developing reports and presentations for management. You will also work closely with other departments, such as finance, sales, and operations, to ensure that procurement processes are aligned with the organization's overall goals and objectives.
Top 5 Skills for the Position:
- Analytical skills
- Attention to detail
- Communication skills
- Problem-solving skills
- Organizational skills
How to Become This Type of Specialist
To become a procurement analyst, you will need at least a bachelor's degree in business, finance, or a related field. Some employers may also require a master's degree or a professional certification, such as the Certified Professional in Supply Management (CPSM) or the Certified Supply Chain Professional (CSCP). You will also need to have strong analytical, communication, and problem-solving skills, as well as experience working in procurement or a related field.
Average Salary
According to Glassdoor, the average salary for a procurement analyst in the United States is $65,000 per year. However, salaries can vary depending on factors such as location, experience, and industry.
Roles and Types
There are various roles and types of procurement analysts, including:
- Strategic Sourcing Analyst
- Category Analyst
- Supplier Relationship Analyst
- Procurement Operations Analyst
- Procurement Data Analyst
Each of these roles has a specific focus and set of responsibilities, but all require strong analytical skills and knowledge of procurement processes.
Locations with the Most Popular Jobs in USA
According to Glassdoor, some of the cities with the most job openings for procurement analysts in the United States include:
- New York, NY
- Chicago, IL
- Atlanta, GA
- Washington, DC
- San Francisco, CA
However, job opportunities can be found in many other cities and regions throughout the country.
What Are the Typical Tools
Procurement analysts typically use a variety of tools and software to perform their job duties, including:
- Microsoft Excel
- SAP
- Oracle
- Ariba
- Tableau
These tools are used to collect and analyze procurement data, create reports and presentations, and communicate with other departments and vendors.
In Conclusion
Procurement analyst jobs are in demand and offer a rewarding career path for those with strong analytical skills and a passion for procurement. With the right education, experience, and skills, you can become a procurement analyst and help organizations achieve their procurement goals while saving money and improving efficiency.