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A procurement specialist negotiates contracts and acquires the goods and services that a company needs. Essentially, they are responsible for a company's spending efficiency.
A procurement specialist will find manufacturers for a particular product, ensure order fulfillment with vendors and negotiate pricing and delivery schedules. They also conduct audits and prepare financial analysis of companies that contracts are established with.
To build a career as a procurement specialists, a four-year Bachelor's degree in business or accounting is required.
Procurement specialists should have outstanding communication and negotiating skills. A background in purchasing and business is essential.
The median salary for a procurement specialist is $81,000 a year. The top 10 percent earn over $132,000 a year. The hourly rate ranges from $22 to $67 per hour.
The procurement industry is very competitive, as the number of available jobs is limited. Thus, it's critical to have the right experience and education to get the job.
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