A procurement manager plays an instrumental role in managing a company's supply line by planning and coordinating the work of buyers and purchasing agents. Also referred to as a purchasing manager or procurement specialist, he ensures that his organization secures the best deals for the supplies, products and services the company purchases.
The procurement process requires the coordination and direction of a number of people whose goal is to maximize efficiency while maintaining cost-effectiveness and securing the most favorable transaction terms. Procurement managers oversee most aspects of obtaining products, supplies, services and materials that a business needs to operate on a daily basis.
By conducting market analysis of the prices of goods from different suppliers, analyzing sales trends, understanding the current state of the market, and determining what factors affect supply and prices, procurement managers work directly with suppliers and contract with them for agreed-upon quantities of goods and services necessary to meet existing needs. Moreover, they evaluate prospective suppliers to ensure they can meet delivery needs in terms of cost, timeliness, quantity and quality.
Procurement managers manage large amounts of data and regularly track records relative to goods purchased, associated costs and inventories. To that end, they tend to be very detailed, organized and capable of managing large volumes of data in minimal time.