What does a Procurement Analyst do?
Procurement analysts act as liaisons between employers and suppliers to procure favorable contracts. They evaluate and analyze potential suppliers and use negotiation techniques when considering a deal. They prepare monthly supply cost reports and work for organizations that rely on supply chain management to sell their products. They cultivate new and ongoing relationships with wholesale distributors, manufacturers, or other products and services providers.
Procurement analysts determine supply needs and research potential suppliers. They oversee suppliers, test product samples, and document the features and benefits of certain products and services. They prepare cost-benefit analysis reports for management review and negotiate favorable contracts with selected vendors or suppliers. They give monthly supply cost progress reports to their superiors and teams and monitor a company’s demand for products to avoid supply shortages and excess inventory. They have a working knowledge of vendor and supplier-related updates and industry activities. Procurement analysts need a minimum bachelor’s degree with engineering, business, accounting, or finance backgrounds
Procurement Analyst Salaries
Average Base Pay
Procurement Analyst Career Path
Learn how to become a Procurement Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.