Procurement management is the practice of planning and directing the activities of purchasing agents who buy materials needed for the operations of a company or organization. Procurement management also involves oversight of the supplier evaluation and purchase negotiation process.
Procurement managers typically report to the operations manager or general manager of their company or organization. There may be multiple procurement managers working side by side, each overseeing a particular area of need. They work with other operational planning staff to analyze the material needs of the organization and create a procurement plan, which they carry out with the help of purchasing agents and other staff.
Most careers in procurement management require a bachelor’s degree and substantial work experience as a purchasing agent or logistician. Employers in the field look for strong professional skills in contract negotiation, contract administration and contract writing, as procurement managers are often closely involved in putting together purchase agreements with suppliers. Practical managerial and leadership skills are also important.
Positions in the field of procurement management carry several alternate job titles, including purchasing manager, sourcing director and materials manager, among others. Procurement managers work in manufacturing, wholesaling and retailing industries. The government is also a large employer of procurement managers.Learn More
A project procurement plan records and describes the purchases made from suppliers that are necessary for the completion of the project to create a budget and a proper plan. A procurement plan typically includes the project requirements, the procurement team, the justification for the procurement, a time line and an explanation of the supplier selection process.Full Answer >
Managers typically function as the top supervisors in a specific department of an organization and carry out a variety of duties. Management directs and delegates tasks to employees, plans and organizes the scope of work for the department they oversee, and monitors the progress of assignments and projects. Managers also work as intermediaries between their reporting staff and the company's executive-level leadership.Full Answer >
To start a real-estate business, save enough start-up capital, get a real-estate broker's license, create a website, choose an office location, hire agents, and advertise the business. You must have at least two years of real-estate sales experience in many states to sit for the broker's exam.Full Answer >
A procurement manager plays an instrumental role in managing a company's supply line by planning and coordinating the work of buyers and purchasing agents. Also referred to as a purchasing manager or procurement specialist, he ensures that his organization secures the best deals for the supplies, products and services the company purchases.Full Answer >