Concept explainers
To determine: The task performed, skills needed, pay and opportunity outlook of the purchasing manager.
Introduction:
Purchase manager plans, directs and coordinates the purchase of goods and services for the wholesalers, retailer and some organizations.
Answer to Problem 1CE
The tasks performed by the purchasing manager include; evaluation of the suppliers on the basis of price, continuously learn about new industries by attending meetings and trade shows, analyze price proposals and financial reports, work out agreements with suppliers and evaluate and monitor the contracts to be sure that all the terms and conditions are complied with.
Skills needed in the purchasing manager include; analytical skills, decision making skills, math skill and negotiating skills. The pay purchasing manager gets is $66,610 on an average and the opportunity outlook of this field is not very strong, as there is very fierce competition and negative growth rate.
Explanation of Solution
The tasks performed by the Purchasing manager are as follows:
- Evaluation of the suppliers on the basis of price.
- Continuously learn about new industries by attending meetings and trade shows.
- Analyze price proposals and financial reports.
- Work out agreements with suppliers and evaluate and monitor the contracts to be sure that all the terms and conditions are complied with.
The skills needed for the Purchasing manager are as follows:
- Analytical skills: Purchase manager must be able to analyze various options available and choose price combination of price quality and service.
- Decision making skills: Purchase manager must possess strong decision making skills so that informed and timely decisions are taken.
- Math skill: Purchase manager must have good math skills so that he can compare different prices and deals and get the best deal for the organizations.
- Negotiation skills: Purchase managers often have to negotiate with the suppliers’ therefore good negotiation skills and self-confidence is needed in purchase managers.
Growth opportunity for the Purchasing manager is negative, the growth rate for the agents are -3% which shows decline in the field. There is tough competition for purchasing managers; they must possess good and competitive skills to grow in such competitive market.
Thus, it can be concluded that the tasks performed by the purchasing manager include; evaluation of the suppliers on the basis of price, continuously learn about new industries by attending meetings and trade shows, analyze price proposals and financial reports, work out agreements with suppliers and evaluate and monitor the contracts to be sure that all the terms and conditions are complied with.
Skills needed in the purchasing manager include; analytical skills, decision making skills, math skill and negotiating skills. The pay purchasing manager gets is $66,610 on an average and the opportunity outlook of this field is not very strong, as there is very fierce competition and negative growth rate.
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Chapter 15 Solutions
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