Procurement analysts serve as liaisons between their employers and suppliers to procure favorable contracts. They evaluate and analyze potential suppliers, negotiate contracts, and prepare monthly supply cost reports. They are mainly employed by organizations that rely on supply chain management to sell their products.
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Procurement Analyst Job Description Template
We are looking for an innovative procurement analyst to source vendors and suppliers for our company. You will be liaising between internal departments and suppliers, analyzing and comparing product samples, and negotiating procurement contracts on behalf of our company.
To ensure success as a procurement analyst, you should possess extensive experience in procuring suppliers and in-depth supply chain knowledge. A first-class procurement analyst will be someone whose industry expertise translates into cost-effective procurement.
Procurement Analyst Responsibilities:
- Determining supply needs and researching potential suppliers.
- Acting as a liaison and communicating pricing and performance needs to vendors and suppliers.
- Sourcing suppliers and testing product samples.
- Documenting the features and benefits of products and services.
- Preparing cost-benefit analysis reports for review by managers.
- Negotiating favorable procurement contracts with selected vendors and suppliers.
- Documenting processes and generating monthly supply cost reports.
- Monitoring the company's demand for products to avoid supply shortages.
- Keeping abreast of vendor and supplier-related activities in the industry.
Procurement Analyst Requirements:
- Bachelor's degree in finance, business, business administration, or accounting.
- An MBA degree in supply chain management will be advantageous.
- More than five years' procurement analysis experience in a related industry.
- Proficiency in electronic procurement and analytical software.
- In-depth business management, supply chain, and strategic sourcing knowledge.
- Advanced analytical skills.
- Exceptional negotiation skills.
- Excellent interpersonal and communication skills.
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