What does a Purchasing Analyst do?
Purchasing analysts play a crucial role in supply chain management, where their primary role is to serve as a liaison between their employer and its vendors. They're responsible for inspecting and testing samples and documenting each product’s features and benefits, using the information to assist with their final purchasing decisions. They are responsible for understanding their employer’s needs and communicating with potential vendors.
Purchasing analysts closely deal with vendors, which requires skilled negotiation, communication, written, and communication capabilities to draft contracts. They must be experts at cost-benefit analysis and continuously use it to compare vendors and choose the best fit for their employer, keeping a timeline in mind. They are responsible for documenting all vendor costs and generating monthly cost reports for stakeholders. Purchasing analysts need a bachelor's degree in engineering, accounting, business, or finance.
Purchasing Analyst Salaries
Average Base Pay
Purchasing Analyst Career Path
Learn how to become a Purchasing Analyst, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.