Written by Marijn Overvest | Reviewed by Sjoerd Goedhart | Fact Checked by Ruud Emonds | Our editorial policy
Procurement Specialist — The Ultimate Guide for 2024
Key takeaways
- Procurement specialist is a professional who’s in charge of a variety of sourcing and procurement tasks.
- Procurement specialists focus on ensuring the company’s procurement quality and assurance.
- These professionals focus more on research and project management of the company, ensuring better and smoother operations.
The role of a procurement specialist is often shrouded in mystery. It is not exactly on par with the procurement manager, but still holds a higher position than the procurement analyst.
This role requires a definite specialization and responsibilities to be fulfilled, especially given the high salary rate associated with it.
In this article, we will delve into the mysterious role of procurement specialists. So, let’s start uncovering their role in procurement!
What is The Role of a Procurement Specialist?
A procurement specialist plays a crucial role in ensuring the quality and efficiency of a company’s procurement process.
They are primarily responsible for sourcing materials that meet the company’s quality standards while staying within budget. In essence, a procurement specialist serves as the quality assurance officer within the procurement team.
Without a skilled procurement specialist, a company may struggle to acquire materials or services that meet its quality standards, potentially disrupting daily operations. Procurement specialists also handle contract negotiations, maintain supplier relationships, and strive to obtain the best quality at the most favorable prices.
Additionally, they play a vital role in identifying and mitigating procurement-related risks by assessing supplier compliance with social, ethical, and legal standards. This ensures that the company operates within the bounds of all relevant laws and regulations.
Furthermore, procurement specialists are indispensable contributors to a company’s success. They facilitate a cost-effective supply chain, minimize risks, and ensure compliance with ethical and legal standards.
Job Description of a Procurement Specialist
As we told you earlier, a procurement specialist acts as the quality assurance officer of the procurement team. However, a procurement specialist also has other responsibilities in procurement.
Here are some other responsibilities of a procurement specialist to give you an overview of the following contents of the article:
- Research products
- Cost analysis
- Inventory control
- Contract negotiation
- Projecting future needs
Aside from having a bachelor’s degree in business administration or supply chain management, many companies that look for a procurement specialist are also checking their skills. Here are some skills that you need to have to become a great procurement specialist:
- Negotiation skills
- Knowledge of purchasing strategies
- Problem-solving skills
- Analytical skills
- Proficiency in using procurement and other business-related software
10 Skills That a Procurement Specialist Should Have
Being a procurement specialist is not an easy job. One must be fully dedicated to excel in this title and to do all things efficiently. The following are the skills that a procurement specialist should have:
1. Communication
Communication is almost always one of the skills that everyone should have. For procurement specialists, communication is a great skill to strengthen supplier relationships. By communicating the things that you want clearly, the supplier will know the requirements that you need and know your expectations.
2. Relationship Management
Having good relationship skills is important for procurement specialists because they talk to a lot of people. They might ask their team for information about past purchases and share what they need.
They also talk to other managers and leaders about what products they need and their plans. Being good at managing relationships helps them work well within their department.
They also use these skills when working with external partners and suppliers. It helps them keep good relationships with current clients and find new ones. This helps them solve problems that come up from outside sources.
3. Research
Research skills help procurement specialists learn about the market, prices, and risks. They also check the pros and cons of their purchases, often to guess what might happen in the future and how to save money.
They might also look for new suppliers or companies before deciding to buy new things that can be used in procurement operations.
4. Project Management Skills
Procurement specialists must be able to plan ahead of time to ensure the project’s success. They must check to know how things are going and if everything is on track. Furthermore, they should know the capacity of their team to delegate the tasks well within their team.
5. Sustainability Skills
Procurement specialists must possess sustainability skills to comply with modern business practices. They should have the knowledge to ensure that procurement processes meet environmental standards.
6. Financial Skills
Handling the supply needs of one or more departments every day can also help procurement specialists use their money skills when dealing with a budget.
They may come up with smart ways to use money for their buying needs that are good for the company. These smart plans might involve looking for different suppliers, getting discounts from suppliers, or buying extra materials when it’s cheap.
7. Contract Negotiation
Negotiation is a major share of the procurement specialist’s job. After securing the best pricing, terms, and delivery options for each product or service, they settle the contract.
8. Decision-Making Skills
Being able to make informed choices is important for a procurement specialist, as it enables them to select the most suitable option for their team or company.
They utilize their decision-making abilities to determine if they should repurchase something, how much to buy, and whether they should continue to work with the same seller.
They have the expertise to decide what is best for their team, which encompasses their clients, sellers, and other stakeholders, and they can opt to procure new items when the need arises.
These decisions play a significant role in enabling them to carry out their work efficiently and keep operations running smoothly.
9. Problem-Solving Skills
Being able to analyze problems and identify all potential solutions is a valuable skill for procurement specialists.
They excel at examining issues and exploring all available options to resolve them. This enables them to make informed decisions when purchasing goods or services for their department.
Rather than settling for the first solution that comes their way, they take the time to evaluate all possibilities and choose the best option.
10. Computer Skills
Computer skills are vital for procurement specialists as computers play a crucial role in their jobs.
They use computers to look for suppliers, compare prices, and communicate with other professionals.
They rely on specialized software to keep track of purchases and ensure that they stick to the budget. Additionally, computers enable procurement specialists to work faster and with greater precision.
In today’s digital world, most procurement activities occur online, which makes it critical for a procurement specialist to be proficient at using a computer.
Procurement Specialist Salary Rate in 2024
So we’ve come to the part why a lot of our students are all spending a good amount of money and effort to sharpen their skills in negotiation and procurement.
It’s time to talk about how much money a Procurement Specialist may earn in 2023.
As everyone knows, there may have been a lot of challenges in the procurement industry, but it continues to remain strong. Various procurement jobs are still raking in the dough, as we speak.
This is because, even after the global pandemic, the need for supplies remains constant. Companies will remain to continue their procurement of highly-valued goods and/or services, especially if it helps with company growth or if it’s needed for the company to continue working.
Without further ado, let’s talk about how much a procurement specialist earns. As of March 2024, the Average Base Pay of a Procurement Specialist in the United States is $64,285.
The lowest base pay is at $40,212 while the highest is at $102,768.
Procurement Specialist Education and Experience
To work as a procurement specialist, a minimum of a bachelor’s degree is usually a requirement. Business Administration, Finance, Logistics, and Supply Management are the usual degrees for procurement specialists.
Students usually complete some kind of training such as an internship during their education to get to see the actual job of a procurement specialist.
On the other hand, Some organizations that hire procurement specialists require them to have prior experience with the job. However, some organizations also hire entry-level candidates and train them within the company.
Some hiring managers may ask the candidates if they have a certification that they have during employment.
Websites to Help You Find Procurement Specialist Jobs
Procurement specialists are crucial to the success of the procurement as they act as the quality assurance officer of the procurement team.
You may wonder where you can find procurement specialist jobs. Well, the internet is your best friend in finding one. Nowadays, it is easy to apply for jobs, especially since many companies are posting jobs on numerous websites.
Here are some websites that can help you find your dream work as a procurement specialist:
1. Indeed
We are sure that you have heard of Indeed. Thus, it is no surprise that this is our first pick. Indeed was founded in 2004 with a mission to help people find their dream jobs. Additionally, applicants can search on Indeed by job title, location, salary range, date posted, and experience level.
If you want to be notified of the latest jobs on Indeed, you will need to create an account. However, you do not have to worry; making an account is free.
Furthermore, Indeed has a review section for companies so you can read the opinions about your prospective employers before applying. You can see here how good their treatment or environment is by checking the reviews of their previous employees.
Indeed also posts listings for job seekers in every industry, every job level, and every job type. Indeed is free to use which is why it is loved by many.
2. Glassdoor
Glassdoor was founded in 2008 to help bring salary transparency and honest company reviews to millions of its users. Glassdoor is free to use for job seekers.
However, to start your job search, you must create a profile, upload your resume, and sign up for email notifications to receive the latest job postings on the website.
They can also simultaneously search for open jobs and read detailed information about the company they are going to apply to.
Furthermore, applicants can read previous interview experiences of those who applied for a job which they can use for their preparation.
3. LinkedIn
LinkedIn is not just an app to meet and connect with like-minded professionals. It also allows you to find the job that you are dreaming of.
Unlike most other job websites, it allows you to add recruiters which many human resources love as they can search for the best applicant for their company. Aside from delivering great job listings, it lets you easily show off your previous employment experience and accomplishments.
Creating a LinkedIn account is free. Once you have an account, you can use it to apply for open positions and send connection requests to grow your professional network.
4. FlexJobs
FlexJobs, founded in 2007, has become the largest site for hand-screened remote jobs with over 25,000 active listings from almost 6,000 companies across the world.
Its members get access to professionally vetted listings across over 50 categories ranging from entry-level to executive. Additionally, members can get exclusive discounts and deals on products and services like Dell laptops and professional career coaching.
Unfortunately, FlexJobs is not free. It charges $9,95 for one week, $24.95 per month, $39.95 for three months, or $59.95 for a year-long membership in order to apply to listings and unlock member savings.
The membership fee that FlexJobs requires you to pay is used for its subscription model to conduct the research necessary to vet each opportunity it adds to its website.
Thus, it ensures that every job listing it adds to its website is legitimate and can give you peace of mind and a safer experience. Additionally, it will refund your subscription fee within 7 days if you are not satisfied.
5. Wellfound
Wellfound, formerly known as AngelList, was founded in 2010 as a way for startups to hire talent and receive funding. It provides an unmatched level of transparency by providing applicants with salary ranges, information, and equity options upfront about a company.
Wellfound will tell you the names and titles who read your submitted documents. You will need to write a short cover letter explaining why you are a good candidate for the role. All cover letters must be written in the provided text box as Wellfound does now allow candidates to upload external files like PDFs or Word documents.
Moreover, it is completely free for you to use and is a fantastic way to start conversations and network with startup founders.
Conclusion
Procurement Specialists play a vital part in the procurement process. Without them, companies cannot ensure the quality of the products that they purchase. Additionally, through their research and communication skills, they can buy high-end materials without going beyond the budget.
Procurement specialists ensure overall quality, helping companies avoid risks when partnering with potential suppliers with suspicious backgrounds or non-compliance. Thus, their role is indispensable for companies to streamline their procurement process.
Frequentlyasked questions
What is a procurement specialist?
A procurement specialist is someone who takes charge of a variety of sourcing and procurement tasks.
What does a procurement specialist do?
Usually, in charge of inspecting the supply quality that comes in, the procurement specialist also checks other aspects of the procurement process, such as sourcing for suppliers.
How much does a procurement specialist earn?
In the United States, a procurement specialist can earn up to $ 94k per year.
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.
