Forecasting analyst vs purchasing agent

The differences between forecasting analysts and purchasing agents can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a forecasting analyst and a purchasing agent. Additionally, a forecasting analyst has an average salary of $69,708, which is higher than the $51,950 average annual salary of a purchasing agent.

The top three skills for a forecasting analyst include supply chain, SQL and data analysis. The most important skills for a purchasing agent are purchase orders, customer service, and logistics.

Forecasting analyst vs purchasing agent overview

	Forecasting Analyst	Purchasing Agent
Yearly salary	$69,708	$51,950
Hourly rate	$33.51	$24.98
Growth rate	19%	-
Number of jobs	31,811	45,856
Job satisfaction	-	5
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 56%
Average age	37	48
Years of experience	6	6

What does a forecasting analyst do?

A forecasting analyst is responsible for predicting a business's future production and financial condition by analyzing the company's current data statistics. Forecasting analysts evaluate the company's sales performance, inventory levels, production speed, and turnaround time of deliverables. They also study the latest industry trends, identifying business opportunities from consumer demands and interests to develop revenue resources to maintain the business' financial stability. A forecasting analyst must have excellent communication and analytical skills, especially on creating report models and finance measurement accuracy.

What does a purchasing agent do?

A purchasing agent's general task is keeping purchase records and making sure that there won't be any discrepancies with the handling of orders. The purchasing agent should be responsible for the order processing and payment collection. Purchasing agents should also be proficient in interpreting and evaluating data, researching on best marketing sources and alternatives, issuing required documentation for suppliers, as well as managing customer queries as needed. Being a purchasing agent requires critical-thinking skills in assessing concerns and providing solutions should there be any possible negotiation conflicts.

Forecasting analyst vs purchasing agent salary

Forecasting analysts and purchasing agents have different pay scales, as shown below.

	Forecasting Analyst	Purchasing Agent
Average salary	$69,708	$51,950
Salary range	Between $53,000 And $90,000	Between $37,000 And $72,000
Highest paying City	Seattle, WA	San Jose, CA
Highest paying state	Washington	Maryland
Best paying company	Apple	Abiomed
Best paying industry	Manufacturing	Technology

Differences between forecasting analyst and purchasing agent education

There are a few differences between a forecasting analyst and a purchasing agent in terms of educational background:

	Forecasting Analyst	Purchasing Agent
Most common degree	Bachelor's Degree, 75%	Bachelor's Degree, 56%
Most common major	Business	Business
Most common college	University of Georgia	University of Pennsylvania

Forecasting analyst vs purchasing agent demographics

Here are the differences between forecasting analysts' and purchasing agents' demographics:

	Forecasting Analyst	Purchasing Agent
Average age	37	48
Gender ratio	Male, 55.3% Female, 44.7%	Male, 49.5% Female, 50.5%
Race ratio	Black or African American, 5.0% Unknown, 5.0% Hispanic or Latino, 11.9% Asian, 12.7% White, 65.3% American Indian and Alaska Native, 0.1%	Black or African American, 9.3% Unknown, 4.4% Hispanic or Latino, 12.7% Asian, 7.0% White, 65.8% American Indian and Alaska Native, 0.8%
LGBT Percentage	10%	7%

Differences between forecasting analyst and purchasing agent duties and responsibilities

Forecasting analyst example responsibilities.

Manage National/Global RFP project process by creating pricing models and coordinating pricing efforts of different ManpowerGroup brands.
Enter sales and freight information in company ERP software program.
Work with logistics to track shipments to distribution center and ensure customer delivery dates are met.
Develop and execute the POS and inventory forecasts and analysis for mass merchants and national /international sales accounts.
Create promotional, POS, & inventory reports for both domestic and international accounts and submit to company each week.
Utilize Nielsen data to create category reviews, new product presentations, and attend customer meetings to support customer category managers.

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Purchasing agent example responsibilities.

Reorganize MRO to manage inventory more efficiently.
Utilize MaCola ERP system to process and manage purchase requisitions and purchase orders in coordination with manufacturing forecast.
Process purchase orders from electronically generate RFQ'S.
Develop programs with suppliers to ensure that commodities meet engineering and quality specifications while maintaining on-time delivery.
Prepare purchase orders, RFP's and RFB's, advertise solicitations, review responses and approve contract acceptance.
Send out RFQ's and award orders to the best fit and price vendor to ensure manufacturing meets critical due dates.

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Forecasting analyst vs purchasing agent skills

Common forecasting analyst skills

Supply Chain, 9%
SQL, 9%
Data Analysis, 7%
Strong Analytical, 6%
SAS, 5%
Demand Planning, 5%

Common purchasing agent skills

Purchase Orders, 30%
Customer Service, 12%
Logistics, 5%
Inventory Control, 4%
MRP, 3%
Cost Savings, 3%

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Updated January 8, 2025

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