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Purchasing Analyst

 

Overview

Purchasing analysts look at market outlooks and determine when and what to buy when contracting with vendors, ordering supplies or making a big investment in a product, technology etc.

 

purchasing analyst

 

What responsibilities will I have?

  • Research product comparisons and prices
  • Determine cost effectiveness and price history to determine if time is right for purchasing
  • Maintain a network of parts and equipment suppliers
  • Document purchases of equipment by area and specification
  • Purchase needed equipment from the most cost-effective supplier
  • Negotiate favorable pricing from suppliers
  • Maintain an awareness of supply
  • Develop short- and long-term sourcing strategies with leadership
  • Develop and implement short- and long-term strategies to purchase cash corn and/or basis levels at or below the market and profit plans
  • Develop, monitor, pursue, and execute tactical and strategic initiatives in the areas of commodities, vendor/contract relationships, and supplier management

 

What education and training is required?

An associate’s or bachelor’s degree in agricultural business finance or accounting is required to be a pricing analyst.

 

To pursue a career as a purchasing analyst:

The following high school courses are recommended:  agricultural education, mathematics, business courses and computer courses

 

Where can I work?

Purchasing analyst are employed by agricultural companies who produce a product for retail, organizations and the government to determine the feasibility of purchasing various products and services.

 

Future Job Market / Outlook

The future outlook for a purchasing analyst will be good over the next five years.

 

Suggested Professional Organizations and Associations

  • Supply Chain Management Association
  • Council of Supply Chain Management Professionals
  • American Purchasing Society