Procurement Analyst Job Description Template
The Procurement Analyst will be responsible for the development and analysis of procurement data to support decision making within the organization. The role will involve working with internal stakeholders to understand their requirements, conducting market research, evaluating supplier proposals and providing recommendations to senior management. In addition, the Procurement Analyst will be responsible for maintaining accurate records of all procurement activities and ensuring compliance with organizational policies and procedures.
Procurement Analyst Job Responsibilities
- Research and analyze potential vendors and suppliers
- Negotiate contracts and pricing with vendors and suppliers
- Monitor vendor performance and compliance with contractual terms
- Maintain accurate records of all procurement activity
- Prepare reports on procurement activity, trends, and spending
- Assist in the development and implementation of procurement policies and procedures
- Serve as a liaison between the organization and vendors/suppliers
Objectives
- To develop and implement effective procurement strategies in line with organizational objectives.
- To manage the procurement process from start to finish, ensuring that all deadlines are met.
- To conduct cost analysis and price negotiation with suppliers to secure favorable terms and conditions.
- To manage supplier relationships effectively and resolve any issues in a timely manner.
- To maintain upto-date knowledge of market trends and developments in order to identify new sourcing opportunities.
- To prepare accurate reports on procurement activities for senior management review
Procurement Analyst Job Skills & Qualifications Needed
- Procurement analysts typically need at least a bachelor's degree in business, economics, or a related field. They also must have strong analytical and math skills. Excellent communication and negotiation skills are also essential for this role.