Procurement Analyst

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 Procurement Analyst earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $66,469

National

The average salary in the United States for those pursuing this career is $68,242

What Does a Professional in this Career Do?

Responsible for the analysis of purchasing within an organization, ensuring that the purchasing strategy is kept to and that inventory levels are maintained.

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:

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 Procurement Analyst is expected to have in order to experience success in this field:

• Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
• Communication Skills: The ability to convey information to another effectively and efficiently.
• Microsoft Office: Microsoft Office is an office suite of applications, servers, and services developed by Microsoft.
• Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.
• 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.

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.
• 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.
• Procurement Contracts: A procurement contract is an agreement in which a buyer agrees to acquire goods or services from a seller in exchange for consideration.
• SAP: Experience of using SAP, which is an enterprise resource planning software developed by the German company SAP SE. SAP ERP incorporates the key business functions of an organization. Business Processes included in SAP ERP are Operations (Sales & Distribution, Materials Management, Production Planning, Logistics Execution, and Quality Management), Financials (Financial Accounting, Management Accounting, Financial Supply Chain Management), Human Capital Management (Training, Payroll, e-Recruiting) and Corporate Services (Travel Management, Environment, Health and Safety, and Real-Estate Management).

Distinguishing Skills

Any Procurement Analyst 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.
• Supplier Identification: Supplier identification and qualification are the first two steps in the supplier management process within procurement.
• Procure-To-Pay: Procure-to-pay is a term used in the software industry to designate a specific subdivision of the procurement process.
• Contract Administration: Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.
• Procurement Strategies: Working experience developing strategies for the process of finding, acquiring, buying goods, services or works from external sources.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

• Defense Federal Acquisition Regulations: Working experience of Defense Federal Acquisition Regulations, which is the principal set of rules in the Federal Acquisition Regulations System regarding government procurement in the United States.

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.

Common Job Titles

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

• Procurement Analyst
• Purchasing Analyst
• Senior Procurement Analyst
• Strategic Sourcing Analyst
• Procurement Operations Analyst

Similar Occupations

If you are interested in exploring similar occupations, you may want to research the following job titles:

• Purchasing Agent
• Purchasing Assistant
• Procurement / Sourcing Manager