Procurement Manager – Job Profile

Introduction – Procurement Manager

In the dynamic and competitive business landscape of today, effective procurement plays a pivotal role in shaping an organization’s success. At the heart of this critical function lies the Procurement Manager, a skilled professional tasked with strategically acquiring goods and services to meet the company’s needs while optimizing costs and maintaining high-quality standards.

It will be the procurement manager’s job to find suppliers, prepare contracts, negotiate terms, and oversee suppliers during the entire procurement process. Other challenges, including sustainability, risk management, and ethical concerns, will also come up.

Your efforts will assist a company or organization in reducing costs, cutting waste, and boosting revenues.

Responsibilities: Procurement Manager

To be a successful procurement manager, you must:

• Demand levels anticipated for services and goods
• Conduct research to find the best items and suppliers in terms of best prices, delivery windows, and quality run tenders.
• Then, assess the bids and make recommendations based on commercial and technical considerations.
• Contracts should be negotiated and agreed upon, service quality should be monitored, contract files should be kept and used as future references, and solid supplier relationships should be built and maintained.
• Control and inspire a group of procurement personnel
• Communicate with suppliers, producers, internal departments including supply chain, planning, marketing, IT, and sales, as well as customers.
• Create plans to ensure that supplier performance and cost-savings goals are met or exceeded.
• Conduct value-for-money analyses of current agreements and contracts
• Make sure that sources for key goods and services are secure and sustainable.
• Future activities and the impact of projected pricing trends
• Keep up-to-date on market research and potential expansion
• Create and put into action a procurement strategy
• Produce reports and statistics on spending and saving after conducting data analysis.
• Make sure vendors are aware of the company’s goals.
• Participate in gatherings, trade shows and International Conferences on Supply Chain and Procurement
• Keep abreast of trends, developments, laws, and new technologies that may have an influence on the business.
• Train junior staff employees as part of the succession plan.

Salary – Procurement Manager

• A graduate buyer or trainee makes about £25,000 at entry level.
• Procurement officers make about £30,000 per year, while procurement specialists make between £32,000 and £40,00.
• The average salary for procurement managers is £47,523, while in the most senior positions, it can reach £160,000.

The average income for all procurement and supply professionals is £47,435, according to the 2021 CIPS/Hays Procurement Income Guide.

Your experience, location, industry you work in, the size and kind of company you work for, and your professional credentials, such as a chartership, all affect your salary. Bonuses, company cars, private healthcare, life insurance, and pensions are possible extra benefits

Working hours: Procurement Manager

The working hours are generally conventional; however, you may be asked to put in extra time if necessary.

If you work for a multinational corporation, you might be required to make calls to locations that are in various time zones early in the morning or late at night.

What to expect – Procurement Manager

The workplace is often an office setting, though you might need to visit clients and suppliers.

In most towns and cities around the UK, there are jobs available, especially if there is a strong industrial and retailing base. The majority of head offices, many of which are in London or the South East, are where procurement managers are typically located. You might be able to obtain employment abroad because commercial buying is a global endeavor.

A lot of responsibility is involved, which can be difficult. However, if you have the ideal mix of abilities and experience, there are promising career advancement opportunities.

To visit other places, you might have to travel during the day and spend the night somewhere else than your home. To attend, there can be some trip abroad trade shows or set up business agreements with new contacts.

Qualifications – Procurement Manager

All graduates are eligible for this line of work, although the following degree fields may increase your chances:

• Business management and studies
• Economics
• Engineering (Civil, Mechanical, and Electrical)
• Marketing
• Operations Management
• Purchasing and Logistics
• Supply Chain Management in the retail industry. are all areas of business

Depending on the organization that is hiring and its size, different qualifications are needed for entry. For instance, large retailers and wholesale distribution facilities frequently favour candidates who have earned degrees with a business focus. Some employers prefer that you have credentials and knowledge pertinent to the area, especially in manufacturing, engineering, or construction organizations.

There are graduate training programs in procurement offered by several large organizations. In any degree discipline, a 2:1 is often required.

Some businesses will prefer that you are a member of the Chartered Institute of Procurement & Supply (CIPS) – MCIPS – or that you are working toward becoming one when you apply for positions. A CIPS-accredited undergraduate or graduate degree is one way to achieve this. Visit CIPS – Accredited Degrees and Programs for further details. As an alternative, you could pursue CIPS certifications to join as a full member. Three years of experience are required for both pathways in order to apply for MCIPS.

Starting in an entry-level position as an administrative assistant, purchasing assistant, or assistant buyer will allow you to enter the workforce without a degree. Then, it might be possible to advance through experience and CIPS’s professional certification programs. You can also enroll in a procurement apprenticeship, which combines paid employment and online classes.

Skills – Procurement Manager

You will require:

• Outstanding communication skills in writing, speaking, and presenting
• Commercial and financial acumen is necessary for the position, which heavily emphasizes managing budgets and expenses
• Powerful analytical skills
• Planning and research abilities to determine what the firm requires
• Outstanding interpersonal and relationship-building abilities, as well as the capacity to work cooperatively with both internal and external teams
• Mathematical abilities for analyzing data
• The capacity to inspire and lead a group
• Diplomatic and tact
• The capacity to handle pressure from high expectations and deadlines while making critical judgments
• Powerful project management abilities
• The capacity to think intelligently, solve issues, and make decisions laterally
• Time management skills and the ability to deliver to deadlines
• Resilience.

Work Experience – Procurement Manager

There is fierce competition for positions, and prior business experience is crucial, particularly that obtained in purchasing and selling. Try to obtain relevant job experience, such as that of a purchasing assistant or junior buyer. You can also do a sandwich placement in procurement as part of your degree program or request the opportunity to work with a procurement manager as a work shadow.

Some larger organizations operate summer vacation programs or provide procurement internships

Learn more about the various career opportunities and internships that are offered.

Best Employer in 2023 – Procurement Manager

An increasingly recognized component of any firm is procurement. Employers might be local, regional, or international corporations, non-profits, government agencies, or small- to medium-sized businesses (SMEs) in a variety of industries.

Here are list of best employers for Procurement Manager jobs in 2023:

1. Accenture
2. Amazon
3. Apple
4. General Electric
5. IBM
6. Intel
7. Procter & Gamble
8. Walmart
9. Siemens
10. Toyota
11. Bechtel
12. Schlumberger
13. Halliburton
14. Baker Hughes
15. Wood Group
16. Fluor Corporation
17. Jacobs Engineering Group
18. AECOM
19. Turner Construction

These companies are all leaders in they respective field industry, and they offer great opportunities for Procurement Managers. They have complex and demanding supply chains, which means that procurement managers have the opportunity to make a significant impact. They also offer competitive salaries and benefits, and they have a strong reputation for employee satisfaction.

In addition to these companies, there are many other great employers for procurement manager jobs in construction. If you are interested in a career in this field, I encourage you to research these companies and others to find the best fit for your skills and interests.

You can be in charge of the entire procurement and supply chain processes when you work for a SME.

Look for job vacancies at:

• Supply Chain Online
• supplychainrecruit.com
• Supply Management Jobs – (the official job board for CIPS).

Recruitment agencies such as Hays, Michael Page, Bayt, indeed and Reed also advertise vacancies. Vacancies are also advertised on LinkedIn.

You can also check the websites of national/international companies and organizations for opportunities.

Current Opening for Procurement Manager

Current Opening Vacancies (as of July 21, 2023):

• Procurement Manager at Bechtel
• Procurement Manager at Schlumberger
• Procurement Manager at Halliburton
• Procurement Manager at Baker Hughes
• Procurement Manager at Wood Group
• Procurement Manager at Fluor Corporation
• Procurement Manager at Jacobs Engineering Group
• Procurement Manager at AECOM
• Procurement Manager at Turner Construction

These are just a few of the many current openings for procurement manager vacancies. You can find more openings by searching online job boards, such as Indeed, LinkedIn, and Monster. You can also contact staffing agencies that specialize in placing procurement professionals.

When you are applying for a procurement manager vacancy, it is important to highlight your skills and experience in the following areas:

• Procurement strategy development and execution: You should be able to develop and execute procurement strategies that align with the company’s overall business goals.
• Sourcing and supplier management: You should be able to identify and source suppliers that can provide the company with the goods and services it needs at the best possible price.
• Contract negotiation: You should be able to negotiate contracts that are fair and beneficial to the company.
• Risk management: You should be able to identify and mitigate risks in the procurement process.
• Communication and relationship building: You should be able to communicate effectively with internal and external stakeholders, and build strong relationships with suppliers.

If you have the skills and experience that are in demand, you should be well-positioned to find a great job as a procurement manager.

Professional development

Typically, graduate training programs span between 18 months and three years. Typically, a mentor will be overseeing many placements that you complete. Throughout the program, you will be evaluated, and you might get the chance to work toward CIPS professional membership.

You can start as a junior or assistant buyer or a purchasing assistant if you don’t have a spot on a graduate programme. You’ll be required to become knowledgeable about your employer’s operations as a new employee. You’ll receive practical on-the-job training and gain knowledge by collaborating directly with more seasoned employees. You can advance to procurement management positions with more education and credentials.

CIPS offers a variety of certifications that can be obtained online or while you’re still employed. These offer a planned training route that results in full CIPS membership (MCIPS). Search the full list of CIPS qualifications.

You can apply for CIPS Chartered Procurement and Supply Professional status if you have attained MCIPS level, have an Ethical Procurement and Supply certificate, and have logged 30 hours of continuing professional development (CPD) during the past 12 months.

After becoming chartered, you will need to do 30 hours of CPD annually. In addition to a variety of short training courses, workshops, seminars, and events, CIPS also allows you to join branch or special interest groups.

In addition to this they are few online courses:

Career prospects

The organization you work for will determine your opportunities for professional development. In bigger businesses, teams of individuals may work at many locations to complete procurement tasks. You can advance by managing a team, and then a collection of teams. However, in a smaller business, you can be in charge of all the work, so it’s more probable that you’ll need to change jobs in order to advance your career.

A department that oversees a greater amount of goods, products, or services may hire an experienced manager. Higher level job titles include:

• Senior Buyer
• Procurement Manager
• Procurement Director
• Head of Procurement
• Chief Procurement Officer.

Additionally, you can choose to specialize in a field like travel, facilities management, or information technology.

To determine the acceptability of goods or products, certain organizations may require employees to travel abroad. There may also be opportunities to work abroad with major international corporations. The globalization of supply chains is a result of the digital revolution.

Conclusion

The role of a Procurement Manager goes beyond mere purchasing; it is about strategizing and creating a robust procurement framework that empowers organizations to thrive in today’s competitive marketplace. With their expertise in sourcing, negotiation, and supplier management, Procurement Managers serve as invaluable assets, driving efficiency, quality, and profitability for businesses of all sizes and industries. Their dedication to cost optimization and adherence to industry standards make them indispensable in achieving sustained growth and success.