Purchasing of material is a significant administrative function. Even though kind
of materials purchased may differ from firm to firm, the part of purchase manager
is of great significance in each institution. Purchasing managers are accountable
for buying assortment of materials- from stationary to materials used for manufacturing,
firm products and even services for organizations and institutions.
Material Management Professionals in the field
Purchasing managers play a vital role in an organization's supply chain management.
In big companies, there is a section for purchase of materials, with purchase manager
as the key head who is accountable for suitable and timely purchase of all required
material for the company. In this case the purchasing manager's part will sometimes
be more administrative, with other employees in charge of assigning the orders.
However in start-up concerns purchase manager is responsible of the entire charge
of purchase. Purchasing managers recognize global cradles of materials, select suppliers,
arrange contracts, and manage relationships. Leadership and the capability to inspire
others are essential for this position. Problem solving and analytical skills used
in mathematics are also an indispensable part of a occupation as a purchasing manager.
Being able to express yourself well both in communication and in writing are important,
especially where handling people is part of the job prerequisite. Foreign language
expertise is beneficial for those who feel like working for international businesses.
Knowledge about the working of computers is an important requisite with the growth
in online purchases nowadays.
Material Management Educational Qualification
The basic educational requirement differs depending on the magnitude of the organization.
However one of the most preferred qualifications is bachelor degree in Business
Management or administration. For progressive positions master’s degree (MBA) is
needed. One can also go for options in material management in which purchase management
is a fundamental subject. There are also different Post graduate diploma and certificate
courses in purchase management. Advantageous areas of study to prepare for a career
in purchasing management consist of finance, business law, business ethics and negotiation
tactics. Purchasing managers require to be computer literate. They must be able
to efficiently use the Internet as well as supply databases and word processing
Material Management Career Options
Purchase managers have extensive range of employment prospects in public as well
as the private sector. They can find employment in government departments and various
public sector happenings, Industries such as pharmaceutical, manufacturing,corporate
house, financial corporations, logistics, banks and trading corporations. These
professionals also have options in media, entertainment and fashion industries.
Tourism, travel and hospitality industries also throw open a lot of chances for
purchase managers. In present times, Telecom and IT sector has also unlocked the
door of occupation for these specialists.
Remuneration of Material Management
Making of a purchase manager varies from industry to industry. Salary mainly depends
upon qualification, individual skill, nature of job, experience, nature of the employer
and location. However, generally purchase managers have monthly salary of Rs 15,000-20,000
at the starting stage. With experience and ability this can go up, there is no bar
for the right candidate.