Education requirements for Purchasing Agents vary widely depending on location and organization. Although some employers accept high school diplomas and GEDs, most prefer a bachelor’s degree in business, accounting, or a related field. Those entering the manufacturing industry often need a bachelor’s and even a master’s degree in engineering. In this circumstance, preference usually goes to those with advanced knowledge within the subject area.
Purchasing Agents are employed by organizations to locate potential products or materials for them to resell or to enhance their daily operations. They’ll typically spend time conducting extensive research on the best suppliers, services, goods, vendors, and manufacturers to purchase from. Purchasing Agents will then use this research to find and maintain suppliers who are reliable, cost-efficient and produce quality products.
A Purchasing Agent should have the following to be effective on the job:
You’ll regularly monitor the organization’s inventory levels to help them understand their purchasing needs and schedule orders. Purchasing Agents typically work closely with suppliers and vendors to review cost proposals and negotiate prices and contracts. Once they’ve ordered products, Purchasing Agents are responsible for keeping and filing records of these purchase orders, contracts, receipts, and transactions.
The average buyer/purchasing agent gross salary in India is ₹7,22,361 or an equivalent hourly rate of ₹347. In addition, they earn an average bonus of ₹24,849. Salary estimates based on salary survey data collected directly from employers and anonymous employees in India. An entry level buyer/purchasing agent (1-3 years of experience) earns an average salary of ₹5,27,570. On the other end, a senior level buyer/purchasing agent (8+ years of experience) earns an average salary of ₹9,03,660.