Financial and Purchasing Management Careers | Director of Procurement / Sourcing

Director of Procurement / Sourcing

Career Area: Business Management and Operations

Occupation Group: Procurement

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Director of Procurement / Sourcing earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $105,467

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $109,590

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Directs and oversees the procurement of supplies for a company or organization. Researches pricing trends and manages sourcing of supplies and inventory. Directs staff, develops relationships with suppliers and negotiates supply and shipping prices.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina145+10.1%
Nationwide3041+5.4%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Director of Procurement / Sourcing is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
  • Building Effective Relationships: Building relationships is about your ability to identify and initiate working relationships and to develop and maintain them in a way that is of mutual benefit to both yourself and the other party. Good relationships are the key to getting things done and are essential when your success is dependent on others.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
  • Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.

Specialized Skills

These skills are specific to working in this career:

  • Procurement: Procurement is the process of finding, agreeing terms and acquiring goods, services or works from an external source, often via a tendering or competitive bidding process.
  • Purchasing: Purchasing refers to a business or organization attempting to acquire goods or services to accomplish the goals of its enterprise.
  • Strategic Sourcing: Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company.
  • Budgeting: Experience planning how the financial resources of a business or department are to be allocated during the next business period.
  • Project Management: Project management is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.

Distinguishing Skills

Any Director of Procurement / Sourcing that possesses the following skills will stand out against the competition:

  • Procurement System: Working experience of Procurement System, which is typically a computerized system designed to manage the procurement process. Procurement is a term used to describe purchasing activity for a business or organization. There are two primary types of procurement systems: electronic procurement and standard procurement. Both types of systems are widely available and are often included in an enterprise resource planning (ERP) or accounting software product.
  • Procure-To-Pay: Procure-to-pay is a term used in the software industry to designate a specific subdivision of the procurement process.
  • Supply Chain Strategy: Working experience of Supply Chain Strategy, which is an iterative process that evaluates the cost- benefit trade-offs of operational components. Business strategy involves leveraging the core competencies of the organization to achieve a defined high-level goal or objective.
  • Group Purchasing Organization: In the United States, a group purchasing organization (GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members.
  • Purchase-to-Pay: Purchase-to-pay, often abbreviated to P2P and also called req to cheque, refers to the business processes that cover activities of requesting (requisitioning), purchasing, receiving, paying for and accounting for goods and services.

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years3%
3 to 5 years23%
6 to 8 years25%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Director Of Procurement
  • Director Of Purchasing
  • Director, Procurement
  • Procurement Director
  • Director, Strategic Sourcing

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