Procurement Specialist

Procurement Specialist Job Description

Procurement specialists need excellent communication and negotiation skills to build relationships with vendors and suppliers. Firms look for candidates with strong business and financial acumen, including the ability to interpret financial data and identify potential cost savings. Top candidates have a deep understanding of industry standards and regulations, as well as proficiency with enterprise resource planning (ERP) systems. Generally, employers look for professionals with a bachelor’s degree in a business-related field and at least two years of experience in procurement or supply chain management.

Typical procurement specialist duties:

Negotiating contracts with vendors and managing relationships with suppliers

Monitoring and analyzing market trends and researching industry suppliers

Establishing quality assurance standards and verifying the quality of purchased products

Maintaining accurate records of purchases and expenses

Managing inventory levels and tracking orders to ensure timely delivery

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Salary for Procurement Specialist

45750 - 71250

25th percentile

45750

The candidate is new to the role and building the needed skills, experience and autonomy.

50th percentile

58500

The candidate has the experience to perform core responsibilities without direct supervision and is comfortable with the role’s processes and subject matter.

75th percentile

71250

The candidate delivers value beyond the stated job duties, has advanced qualifications and experience, and is ready for the next career level.

Projected salaries for related positions

Position title

25th percentile

50th percentile

75th percentile

Chief Financial Officer (CFO) – Corporate Accounting

194250

268250

321750