Financial and Purchasing Management Careers | Procurement / Sourcing Manager

Procurement / Sourcing Manager

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 / Sourcing Manager earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $80,275

*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 $81,758

*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?

Manages the procurement of supplies for a company or organization. Develops policies and schedules for regular procurements. Trains and supervises staff, develops relationships with suppliers, researches and inspects supplies, 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 Carolina745+10.1%
Nationwide20901+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 Procurement / Sourcing Manager 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.
  • 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.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
  • 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.

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.
  • 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.
  • Supply Chain Management: In commerce, supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Distinguishing Skills

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

  • Vendor Relations: Working experience maintaining customer independence from vendors and better means for engaging with them.
  • Material Requirement Planning (MRP): Material requirements planning (MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes.
  • Global Sourcing: Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries.
  • Supply Chain Improvement: Working experience making processes of supply chains more cost-efficient or better for an organization.
  • Supplier Review: Supplier reviewis the planned and systematic review of all relevant aspects of performance and the relationship with an important or strategic supplier.

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 years8%
3 to 5 years54%
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:

  • Procurement Manager
  • Materials Manager
  • Sourcing Manager
  • General Merchandise
  • Strategic Sourcing Manager

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