Buyer skills for your resume and career

Purchase orders are official documents a buyer uses to authorise a purchase. Buyers use purchase orders to initiate modifications, schedule material deliveries, and resolve vendor issues. They also use them to balance inventory levels, research inadequate deliveries, and coordinate with inventory management teams. They create and implement electronic purchase order processes, complete project purchase orders, and reconcile received orders for integrity and documentation.

Customer service is the act of providing support and assistance to customers before, during, or after a purchase. Buyers use customer service to handle orders, resolve issues, and maintain relationships with internal departments and external vendors. They also provide training and support to others in the company, ensuring timely deliveries and quality products.

Logistics is the process of planning, coordinating, and executing the movement of goods. Buyers use logistics to ensure that products are delivered on time and at the lowest cost possible. They coordinate with logistics firms, custom brokers, and other stakeholders to facilitate international shipments and maintain inventory accuracy. They also negotiate pricing and logistics with suppliers to improve efficiency and reduce costs.

Supplier performance is the evaluation of a supplier's ability to meet the requirements of a contract. Buyers use supplier performance to monitor adherence to schedules, payment provisions, and other contractual requirements. They also use it to recognize supply conditions and business updates, and to implement corrective action when necessary. For example, a buyer might monitor a supplier's on-time delivery rate or quality performance to ensure they meet company standards.

MRP, or Material Requirements Planning, is a system used to manage inventory levels. Buyers use MRP to compile and analyze material requirements, create and transmit purchase orders, and manage supply chains. They also use MRP to forecast raw material requirements, review and interpret MRP data to order material, and coordinate delivery.

ERP, or Enterprise Resource Planning, is a software that helps manage and integrate business operations. Buyers use ERP systems to streamline their work, like handling orders and managing inventory. They also use it to analyze demand, make forecasts, and schedule deliveries. Moreover, ERP systems are used to negotiate and administer project procurement contracts, conduct data validation, and even test portions of system upgrades.

Cost savings is the act of reducing expenses without sacrificing quality. Buyers use cost savings by identifying opportunities to cut costs and negotiating with vendors to achieve better prices. They also develop strategies to optimize product use and improve relationships with suppliers. For example, they might renegotiate vendor contracts, streamline purchasing activities, or identify areas where standardization can help reduce costs.

On-time delivery is the ability of a supplier to provide materials or services by the agreed-upon date. Buyers use on-time delivery by negotiating with vendors, tracking orders, and maintaining relationships to ensure consistent delivery. They also monitor and correct any issues with vendors, including their performance on time delivery and quality.

Cost reduction is the process of identifying and implementing ways to lower the cost of business operations without negatively impacting the quality of products or services. Buyers use cost reduction to negotiate contracts, consolidate vendor relationships, and identify qualified vendors that can ensure exceptional quality, quick delivery, and cost savings. They also participate in supplier rationalization and cost reduction projects to improve profitability.

RFQ, or request for quote, is a document used to ask potential suppliers for a price quote on a specific product or service. Buyers use RFQs to compare prices and services from different vendors. They prepare RFQs, distribute them to potential bidders, and then evaluate the bids to select the best supplier. This involves negotiating prices and terms, and following up with accounting to ensure accuracy of invoices.

Supplier relationships refer to the connections and interactions between a company and its suppliers. Buyers use these relationships to manage performance issues, negotiate contracts, and control budgets. They also use supplier relationships to achieve lower pricing and increased service, plan material needs, and administer purchasing agreements. Buyers maintain these relationships through personal contact, sales representative interviews, and quarterly business reviews. They also evaluate and manage supplier relationships to achieve material cost, availability, and inventory goals.

Delivery dates are specific points in time when goods or services are expected to be delivered. Buyers use delivery dates to manage their inventory, production, and customer expectations. They negotiate these dates with suppliers, expedite orders when necessary, and adjust inventory levels accordingly. They also communicate with suppliers to confirm delivery dates and modes of transportation, ensuring that production meets customer expectations.

Point of Sale (POS) is a system used for transactions, managing inventory, and tracking sales. Buyers use POS to place orders, manage accounts, and run reports. They also use POS data to determine seasonal assortments, track actual costs, and evaluate slow-moving products. For example, a buyer might use POS to input purchase orders, pull up sales reports, or manage inventory.

Inventory control is the process of managing and tracking the amount of goods a company has in stock. Buyers use inventory control to prevent stock-outs, minimize over-purchasing of raw materials, and maintain accurate product delivery and pricing. They also use it to manage requisition and inventory control for regional stores, and to establish efficient means of maximizing profits in the warehouse environment.