Purchasing Analyst
Purchasing analysts look at market outlooks and determine when and what to buy when contracting with vendors, ordering supplies or making a big investment in a product. They work with their company’s production staff to ensure agricultural facilities have enough inventory for production based on sales forecasts. Additionally, they will negotiate favorable pricing from suppliers to get the best price for products and services.
What Responsibilities Will I Have?
- Research product comparisons and prices
- Monitor the counts and inventory for products
- Work with operations, procurement and planning on problem resolution related to inventory and purchasing
- Determine cost effectiveness and price history
- Maintain a network of parts and equipment suppliers
- Document purchases of equipment by area and specification
- Purchase needed equipment from the most cost-effective supplier
- Negotiate favorable pricing from suppliers
- Assist the buyers, planners and procurement managers with special projects and other duties as required
- Create purchase orders and communicate requirements to vendors
- Maintain an awareness of supply
- Summarize price increases
- Enter and manage supplier and packaging contracts
- Develop sourcing strategies with leadership
- Develop, monitor, pursue and execute tactical and strategic initiatives
Recommended High School Courses:
- agricultural education
- mathematics
- personal finance
- business
- computer skills
Education/Training Required:
An associate or bachelor’s degree in agricultural business, finance, accounting or a related field is required to be a pricing analyst.
