ChatGPT & AI in
Procurement Course

Free Preview Lesson

Written by Marijn Overvest | Reviewed by Sjoerd Goedhart | Fact Checked by Ruud Emonds | Our editorial policy

Procurement Career Statistics – 21 Key Figures

Key take-aways
  • The procurement industry is experiencing significant growth, with an expected increase in global procurement value and job openings for procurement managers.
  • Procurement professionals must continually enhance their skills in various areas to keep up with skill demand.
  • Procurement professionals must embrace change and adapt to new trends and methodologies.

If you’re here then you must want to know more about the procurement career, whether you’re already well on your way to one or if you’ve simply been thinking about it. If so, this article may give you some answers that you seek.

Procurement has a wide array of opportunities that can interest a wide variety of people. This is because it combines strategic decision-making, negotiation prowess, global outlook, and the opportunity to make a tangible impact on organizations

A career path in procurement can be quite dynamic and fulfilling. However, it is also not for the faint of heart. It would bode well for someone who is looking for a mix of business acumen, personal growth, and a dash of excitement!

21 Key Figures in the Procurement Career

Without further ado, let me present you with 21 key figures in the Procurement Career that you may want to acquaint yourself with. 

1. 9 of the top 10 procurement skills were identified as soft or social

Skills like stakeholder management and communication fall under the category of soft or social skills. It turns out these skills are integral when it comes to getting ahead in the procurement game.

Procurious reports that 9 of the top 10 procurement skills were identified as soft or social. More than anything procurement requires someone well-versed in the ways of socializing and if this is something up your alley then maybe procurement is something you should consider.

2. There are 30,430 active job openings for procurement managers in the U.S.

Arkestro reports that currently, the number of employed procurement managers in the U.S. alone is 142,149. Additionally, there are 30,430 active job openings for procurement managers in the U.S.

Judging by these numbers procurement specialists are needed and they are in demand. So if you wanted a sign, this may be it!

3. Growth in procurement salaries overall in North America is 5%

According to CIPS, the procurement profession has been on the rise and has been front and center in helping many organizations navigate new pressures and challenges. Due to this procurement salaries in North America have grown by 5% overall.

Procurement and supply chain professionals now stand at an average salary of $105,418 as per the latest data, last updated in 2023. Additionally, more advanced professionals who have roles like Procurement director have an average salary of $126k.

4. Only 31% believe that their current competency models are relevant to their staff’s work

To make procurement functions more efficient, competency planning strategies are needed. According to the Supply Chain Management Review, there’s been a shift in the talents needed by procurement professionals and only 31% of survey respondents believe that their current competency models are relevant to their staff’s work.

Considering the shift of procurement towards new technologies it makes sense that things like competency planning strategies are starting to get outdated too.

Since procurement is a dynamic landscape that is ever-shifting, procurement professionals should always be prepared to tackle new things head-on.

5. 58% of procurement experts agree that there’s a clear trend in the job market for Procurement/Sourcing/Purchasing jobs

Beroe surveyed 357 participants across 262 companies globally to determine whether procurement experts are rising in demand and need more tech-savvy skills. 

The majority of respondents agreed when asked if there’s a clear trend in the job market for Procurement/Sourcing/Purchasing jobs. 58%, either fully agree (20%) or agree (38%) with this observation. 

The consensus is that the Procurement/Sourcing/Purchasing job market has expanded in recent years, especially after the COVID-19 pandemic, which puts the pandemic as the potential catalyst for this change.

6. 75% of procurement experts surveyed have been approached by other companies for job openings

According to Beroe, 75% of procurement experts surveyed have been approached by other companies for job openings. This indicates an active and potentially competitive job market due to a possible increase in procurement-related expertise.

7. 44% of procurement experts would switch jobs if they weren’t allowed to work from home at least a few days a week

Opinions on switching jobs due to changes in work-from-home policies or office attendance requirements are varied. However, as reported by Beroe, about 44% of procurement experts surveyed would switch jobs if they weren’t allowed to work from home at least a few days a week.

There seems to be a growing preference for flexible working conditions in the workforce, and in this case, specifically in the procurement workforce.

8. 29% of procurement experts surveyed said that they relied on job postings on social networks to distribute resumes and express interest to potential employers

According to Beroe, when it comes to distributing resumes and expressing interest to potential employers 29% of procurement experts surveyed said that they relied on job postings on social networks. The preferred method after this with a 24% preference rate is contacting individual recruitment specialists.

The rest are spread out between job postings on company websites, recruitment agencies, private professional networks, friends or colleagues, and other methods. Considering it has the highest percentage, the importance of social media platforms in the job search process is crucial and continues to grow in potential.

9. 80% of procurement experts believe LinkedIn to be the most effective platform for online job searches

If you’re wondering where to find jobs to kick off your career then look no further! LinkedIn is reported by Beroe to be the preferred platform for online job searches in procurement, as said by 80% of the surveyed procurement experts.

10. 24% of procurement specialists list contract management as the most sought-after skill when advertising job openings

When companies list job offerings they have preferred skills for those they’re willing to take in. Beroe reveals that their surveyed procurement specialists list data analysis and contract management as the most frequently mentioned skills.

24% of procurement specialists list contract management as the most sought-after skill when advertising job openings with data analysis closely following at 23%.

11. Procurement jobs in the UK have expanded by 8% year-on-year

The rise of procurement in the UK has expanded by 8% year-on-year, according to Robert Walters. Additionally, the increase in procurement role demand is most felt in the North West with a rise of 10% quarter on quarter while  London and the South East also grew by 7%.

12. Manufacturing companies can spend up to 70% of their revenue on supplier agreements

Procurement specialists serve as liaisons between the company and external suppliers and their day is usually spent making calls, sending emails to suppliers, entering data, researching new suppliers, and reviewing/negotiating purchase agreements.

This is why procurement specialists play a fundamental role in operational efficiency and overall profitability. And according to LexCheck, manufacturing companies can spend up to 70% of their revenue on supplier agreements.

13. 64.6% of procurement specialists have at least a Certificate III/IV or university education

According to Swinburne Open, 64.6% of procurement specialists have at least a Certificate III/IV or university education. In Australia, there are no formal, universal education requirements to get a procurement job but vocational education and training or a university degree make it easier for people to land a job in procurement.

14. 88% of companies find it hard to hire people with requisite digital skills for automation and data analytics

As the digital age makes it more and more of a necessity in procurement to have skills in automation and data analytics the unfortunate reality is that the skill sets for these are falling a bit behind.

According to Procurious, 88% of companies find it hard to hire people with the digital skills necessary for automation and data analytics roles. 

15. 79% of organizations experienced a skill shortage in procurement 

It’s no secret that procurement is advancing with different kinds of technologies and traditional procurement expertise is no longer enough. On top of that being tech-savvy has become important in the procurement field and according to Responsive, 79% of organizations experienced a skill shortage in procurement.

16. One of the lowest-paying positions in the industry is a procurement clerk with a salary of $45,240

According to Supply Chain Management Review, 13 jobs within the supply chain were examined and it was determined that one of the lowest-paying positions in the industry is a procurement clerk with a salary of $45,240. 

It was also discovered that in 2023 the average median supply chain salary is $98,570 which was up by 3% as opposed to 2022. With the continual rise in demand for supply chain experts, we may expect more salary-wise as well.

17. The Top 2 Priority facing Procurement for the next year or two are attracting or hiring top new talent (84%)

The Top 2 Priorities facing Procurement for the next year or two are attracting or hiring top new talent (84%) according to Kodiak Hub. The first priority is retaining and developing existing talent (86%).

With this in mind, we know that procurement experts have been increasing in demand and this just proves it. Aside from investing in current talent, the field of procurement has largely been looking to expand the amount of experts available in the field.

18. 95% of decision-makers acknowledge that there’s room for procurement optimization

Amazon Business surveyed 3,000 buyers, procurement decision-makers, and organizational senior leaders familiar with procurement operations across public and private sectors, and across 7 countries.

They found that 95% of decision-makers acknowledge that there’s room for procurement optimization. Thus this tendency for attracting and hiring new talent is on the rise.

19. 81% of procurement experts have mandates to buy from certified sellers

According to Amazon Business, 81% of procurement experts have mandates to buy from certified sellers, which might include sustainable, local, or disadvantaged group-owned businesses

If you are someone who has the skill set for procurement and also has a calling for sustainability then procurement can be the career for you. There are multiple ways to practice sustainability and have a big impact through a procurement career.

20. 84% of hiring managers in the UK said their top skill set is now digital rather than procurement first

We already saw the numbers when it comes to procurement advancing because of technology so this comes as no surprise. Procurious reports that 84% of hiring managers in the UK said their top skill set is now digital rather than procurement first.

So if you are a procurement professional it’s time to hone those technological skills because procurement will only continue to advance hand in hand with technology. And if you’re looking to get into procurement as a career path then you should take note of this and hone some digital skills as well.

21. Nearly 60% of leaders say Ethics is the top priority for success in future procurement roles

Procurement seems to be a career that cares about its actions. As reported by Procurious nearly 60% of leaders say Ethics is the top priority for success in future procurement roles.

Knowing the impact procurement is capable of and knowing that the top-ranked skill for success in future procurement roles is ethics must restore some of your faith in humanity. Whatever the case, a good amount of procurement professionals are concerned with how their business is handled. Exactly as they should be.

What is a Procurement Career?

Having a career in procurement means having to do all the basic work done by the supply managers to create an efficient sourcing and purchasing program for everything related to the organization’s logistics. 

Being a procurement expert means having to deal with all kinds of things like managing all the details about the company’s strategy, and duties, being responsible for supplying multi-company areas with the best materials, contracts, and services from suppliers, plus successful negotiation with vendors. 

On top of that the procurement expert has to achieve perfect indicators when measuring procurement performance to ensure the best outcomes and revenue. 

So a lot of consideration should be put into choosing this career path since it isn’t for the faint of heart, and even though it has many benefits and possibilities it also requires dedication and hard work.

Why are Procurement Careers Important?

As long as there are running public sector services, businesses, and companies, there will be a need for procurement professionals. Whether it’s to be a consultant or to handle all the purchasing, sourcing, tools, goods, and supplies management.

Any business requires a procurement department for commercial purchasing and supplying services which means this team is responsible for some major finances. The procurement professional is required to be creative and well-versed in the procurement world to save costs for your company while keeping good sourcing quality and achieving results.

Conclusion

A procurement career presents itself as a dynamic and fulfilling path with a blend of strategic decision-making, negotiation skills, and a global outlook. Opportunities in the procurement field are expanding rapidly considering the ever-evolving landscape of procurement due to technological advancements and changing market dynamics.

But this career path isn’t an easy road by all means. It takes grit, dedication, business acumen, and a willingness to adapt to new challenges and trends. With the right skills and mindset, procurement professionals can make a tangible impact on organizations while enjoying a rewarding and diverse career.

Frequentlyasked questions

What is a Procurement Career?

A procurement career involves managing sourcing and purchasing programs to ensure efficient logistics within an organization.

Why are Procurement Careers Important?

Procurement careers play a crucial role in ensuring the smooth functioning of businesses and organizations by managing the acquisition of goods, services, and supplies.

What are Key Considerations for Procurement Professionals?

Procurement professionals need to stay updated on industry trends, technological advancements, and regulatory changes affecting procurement practices.

About the author

My name is Marijn Overvest, I’m the founder of Procurement Tactics. I have a deep passion for procurement, and I’ve upskilled over 200 procurement teams from all over the world. When I’m not working, I love running and cycling.

Marijn Overvest Procurement Tactics