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Employers who hire procurement analysts generally look for candidates who have a bachelor's degree in finance or accounting. In order to become a procurement analyst, it may also be helpful to acquire superior negotiating skills. Familiarity with contractual language is generally expected in a procurement analyst, so undergoing some training in the various laws regarding purchasing is often a good idea. Many procurement analysts have well-developed expertise in the use of analytical tools. Some people enhance the chances of getting a job as a procurement analyst through cultivating trusted relationships with suppliers, and others may enter the field through hands-on experience in purchasing.
Companies recruiting a procurement analyst often seek college graduates. Typical courses of academic study for those who seek to become a procurement analyst may include finance, accounting, or the practice of auditing. A high-level of business mathematical fluency may be expected from those who seek to become a procurement analyst.
Often negotiating skills are a part of a procurement analyst's training. If the person's employer works in an international environment, knowledge of a foreign language likely would be considered an asset. Perhaps even more important than foreign language fluency would be cultural familiarity with the various customs involved in purchasing goods or services. For example, those who live in the U.S. tend to approach negotiations with an eye toward wrapping up a deal quickly. In contrast, many other cultures outside the U.S. expect longer introductions and social exchanges prior to getting down to contract negotiations.
Understanding contractual language often involves a familiarity with legal protocols and business law. As a result, those who seek to become a procurement analyst may be better prepared to enter this field after having obtained such expertise. Courses in contract law, or even graduating from law school, may be part of the needed education for this career field.
Use of analytical toolsets is often a part of the job as well. Obtaining expertise in using analytical techniques likely will prove helpful to the person who wants to become a procurement analyst. Having the expertise to quickly analyze pricing, supply-chain metrics, and compare different vendors is part of the skill-set expected of those who want to advance in this career field.
Connections with suppliers may be gained through previous on-the-job experience, even if that experience did not directly relate to procurement analysis. As with many business endeavors, personal contacts often prove very advantageous. A newly-hired procurement analyst may bring some powerful procurement-related connections to the table, through previous experience acquired by on-the-job training.
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