What does a procurement analyst do?

Senior Purchasing Agents are experienced employees in the company's purchasing department. They oversee the purchase requisitions of the employees. They validate requests, ensure that the requestors followed company guidelines, check the availability of the items with the chosen supplier, and forward the purchase order to the supplier. Upon fulfillment of the request, Senior Purchasing Agents check the deliveries, ensure that the items are complete and correct, forward the items to the requestor, and process the payment for the supplier. Senior Purchasing agents also prepare reports, spot trends in employee or department purchases, and create recommendations based on observations. They are also expected to form good working relationships with suppliers.

These skill sets are where the common ground ends though. The responsibilities of a procurement analyst are more likely to require skills like "data analysis," "strong analytical," "financial analysis," and "data entry." On the other hand, a job as a senior purchasing agent requires skills like "project management," "continuous improvement," "federal acquisition," and "excellent organizational." As you can see, what employees do in each career varies considerably.

A supply chain analyst is responsible for handling the supply chain operations of an organization, aligning processes, and identifying areas of improvement to initiate procedures and create smooth supply delivery transactions. Supply chain analysts monitor the adequacy of stock inventory, including the trends in the market industry, to meet the public demands and ensuring that the business provides those interests. They also evaluate the supply cycle, from the planning stages to the final distribution, and analyzing aspects to minimize complexities and cost-reduction without compromising the quality of services.

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that procurement analyst responsibilities requires skills like "procurement policies," "procurement process," "market research," and "financial analysis." But a supply chain analyst might use other skills in their typical duties, such as, "supply chain," "power bi," "continuous improvement," and "chain management."

A materials analyst is responsible for managing the assets and materials of an organization, ensuring the adequacy of office inventories to support business operational functions. Materials analysts identify cost-reduction materials by coordinating with trusted suppliers and third-party vendors. They handle the distribution of goods and order processes according to the company's supply chain management. A materials analyst must have excellent organizational and analytical skills, especially in conducting data and statistical analysis to obtain high-quality materials that would meet the customers' demands.

There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a procurement analyst is likely to be skilled in "customer service," "data analysis," "procurement policies," and "price analysis," while a typical material analyst is skilled in "supply chain," "continuous improvement," "part numbers," and "inventory control."

Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.

Even though a few skill sets overlap between procurement analysts and analysts, there are some differences that are important to note. For one, a procurement analyst might have more use for skills like "purchase orders," "supplier performance," "logistics," and "procurement policies." Meanwhile, some responsibilities of analysts require skills like "troubleshoot," "project management," "digital transformation," and "excellent interpersonal. "