Learn something new every day
More Info... by email
Individuals looking to become a purchasing analyst will need to have excellent managerial skills as this position entails purchasing of all the equipment, material, and service needed by an organization. A purchasing analyst will generally need to have a bachelor’s degree and extensive knowledge of the latest business, management and strategic planning techniques in order to fulfill the duties of the position. It is also required that analysts work directly with the finance departments of multiple companies to develop good purchasing relationships. Great negotiating skills are also necessary for anyone looking to become a purchasing analyst as he or she will be directly responsible for negotiating prices with prospective vendors.
Purchasing analysts are required to have a formal education in order to be considered for most open positions. Qualified candidates generally have a bachelor's degree in business administration, business management, or accounting. In additional to formal education, prospective candidates will need to have some level of purchasing experience in order to compete for jobs in the marketplace.
A person looking to acquire valid work experience to become a purchasing analyst should begin by attempting to obtain an internship in the purchasing department of a company. Many companies that are in need of purchasing analysts offer training programs to students who are interested in pursuing a career in procurement. Often, these internships can develop into full-time employment with the hiring company and at the very least can offer a candidate the additional work experience needed to obtain a full-time position with another company in need of purchasing analysts.
If participating in an internship program is not a viable option, those looking to become a purchasing analyst can search for analyst positions on the Internet as well as in local classified ads. The competition for employment can be fierce and a candidate with little to no experience may find it difficult to acquire a purchasing analyst position in this manner. In this case, it might be beneficial to acquire a position as an entry-level bookkeeper to gain related experience and attempt to obtain an analyst position at a later point in time.
Regardless of experience, anyone who wishes to become a purchasing analyst should join various trade organizations in order to network with other industry professionals. In the United States, the National Association of Purchasing and Payables (NAPP) is one of many organizations that offer career training to members and provides a venue in which one can network with other professionals to gain leads on new employment opportunities. There are also numerous industry conferences that are held on a regular basis that serve as a platform for aspiring purchasing analysts to gain an advantage in the procurement industry.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!