Purchase analyst Job Profile and Description
A purchase analyst is one who analyzes and decides the material purchase requirements in an organization. The activities of a purchase analyst revolve around planning, directing and coordinating the process of purchasing materials. The person makes sure that all the surplus material in the organization is well utilized and makes sure inventory is always available for non- stop work progress.
It is the job of the purchase analyst to prepare and execute the purchase budget according to the set norms. Without the presence of the purchase analyst in an organization there is bound to be lot of confusing and even the production timeline cannot be met appropriately.
Purchase analyst Duties and Responsibilities
The duties of a purchase analyst can be enumerated as under:-
- Coordinate the activities of the purchase department by providing the purchase requirement from time to time.
- Look out for vendors for materials who provide feasible supplies in a timely manner to help proper flow of production process.
- Manage equipment and supplies according to availability of the product raw materials.
- Ensure timely submission of purchase order according to the norms of the company.
- Make sure that company participates in supplies contracts in order to obtain materials at cheaper rates.
- Prepare bid proposals on behalf of the company and ensure procedural formalities for bidding of supplies.
Purchase analyst Skills and Specifications
The skills necessary for a purchase analyst are as under:-
- Should possess good administration and management skills to plan and coordinate purchase activities.
- Should have good knowledge of the production and purchase process.
- Should possess knowledge of the laws of the state with regard to indent and movement of materials purchase mechanism.
- Should possess good calculation skills to prepare accurate purchase indents and bills.
- Should be able to handle stress on the job as work requires time bound deadlines to be fulfilled.
- Should have a composed behavior to handle difficult situations in a cool manner.
- Should have good working knowledge of computer applications for preparing various statistics for purchase order and providing future predictions.
Purchase analyst Education and Qualification
The educational qualifications of a purchase analyst are as under:-
- The candidate must have a Bachelor’s degree in Administration or purchase management or contracts management.
- Additional educational qualification will surely prove to be an added advantage for the candidate.
Purchase analyst Salary
The salary of a purchase analyst per hour varies between $40 to $48 and the average salary per annum is in the range of $85,000 to $1, 00,000.