How to Become a Purchase Manager

About Purchase Manager

A Purchase Manager is a professional who manages the purchase of goods and services for an organization. The role of a Purchase Manager is very important for an organization as he/she researches and finds out the good and services needed by a company, and then negotiates the purchase of those products at the best possible price.

Purchase Managers are required to keep a track of all of the purchases made by an organization and the costs associated with those purchases. They may also be required to keep a track of the inventory and stock availability of an organization in order to effectively execute their duties and responsibilities as a Purchase Manager.

Purchase Managers must maintain a working relationship with the vendors in order to negotiate on behalf of the company. Therefore, good communication skills are essential for the role. They may also be required to be consulted on which products or services would be best suited for an organization’s requirements. Thus, analytical skills and mathematical skills are two other qualities that a Purchase Manager must possess.

Eligibility to become Purchase Manager

Usually, companies consider candidates who have completed at least a bachelor’s degree course for the role of a Purchase Manager. Candidates must be skilled in subjects such as economics, mathematics, business management, logistics etc. to qualify for the role of a Purchase Manager. Some organizations may also prefer candidates who have completed professional or technical education targetting the core area that the company works in (such as BTech candidates for Purchase Manager roles in Engineering companies).

Given below are the educational qualifications that are best suited for a career as a Purchase Manager.

Undergraduate Courses for Purchase Manager

• Diploma in Supply Chain Management

• Bachelor of Business Administration (BBA)

• BBA in Supply Chain Management and Logistics

• BA Economics etc.

Candidates who wish to take up the role of a Purchase Manager in leading organizations can also opt for postgraduate studies in a related stream. Mostly, technical or professional postgraduate courses are considered to be the best for this role.

Postgraduate Courses for Purchase Manager

• MBA in Logistics and Supply Chain Management

• PGD in Supply Chain Management etc.

Types of Job Roles Purchase Manager

A Purchase Manager is responsible for undertaking the following responsibilities in an organization.

• Coordinate with vendors and supplies for gathering information, placing orders, checking for updates on delivery etc.

• Analyzing the vendor proposals, purchase contracts and other data related to making the best possible purchases.

• Keeping track of the purchases made by an organization and providing reports to the upper management when required.

• Keeping track of the inventory or an organization in order and ensuring that the orders are placed on time so that the organization has the required resources at all times.

• Coordinating with various internal departments to gauge requirements for orders and inventory.

• Ensuring that the delivered goods meet the quality standards and negotiating the returns in case any defects or discrepancies are observed.

• Ensuring that the vendors work in compliance with the contract and company policies.

Employment Sector/Industry for Purchase Manager

Given below are some of the top recruiting areas for Purchase Managers in India.

• Manufacturing Companies

• Departmental / Convenience Stores

• Export Houses

• Production Houses

• Fashion Retail

• Healthcare Products and Service Delivery Companies

• Educational Institutions etc.

Top Recruiting Companies for Purchase Managers in India

Following are some of the companies that are major recruiters of Purchase Managers in India.

• Tata Group

• Mahindra & Mahindra

• Reliance Group

• Pantaloons

• Spencer’s etc.

Pay Scale/Salary of Purchase Manager

The salary details of a Purchase Manager can be found in the points given below.

• Purchase Manager is a job that offers a good salary and there is plenty of scope for growth.

• Purchase Managers earn low staring salaries on average as experience is essential for this role and freshers are generally hired as trainees. The average starting salary of a Purchase Manager in India can be around Rs. 2 - 3 LPA.

• However, the salary growth is accelerated as a professional moves out of the trainee phase. The average salary earned by a Purchase Manager in India is around Rs. 8 LPA.

• Purchase Managers holding senior-level positions can earn salaries of around Rs. 10 - 12 LPA.

Books & Study Material to Become Purchase Manager

Pros of becoming a Purchase Manager

• Job does not require a high level of educational qualification. Graduates in any stream can get into this field.

• Career opportunities are not limited to a single sector of industries and candidates can look for diverse opportunities as per the likes.

• Even though the initial salary may be a bit low, senior-level positions have excellent salaries and higher education may not be necessary.

Cons of becoming a Purchase Manager

• Initial growth is slow and difficult and professionals are required to quickly develop their skills in order to climb up in this field.

• Professionals often have to work for long hours.

• Dealing with vendors and ensuring accuracy in all of the paperwork and inventory management may get hectic.