What does a purchase analyst do?
A purchase analyst is responsible for looking at the market outlook and determining what and when to buy when ordering supplies. They are responsible for making an investment in a product or technology, and contracting with vendors. You have varied duties and responsibilities that include researching product prices and comparisons, determining price history and cost-effectiveness, and providing leadership for logistics, resource management decisions, and sourcing. You will also be responsible for purchasing equipment from suppliers and working closely with leadership to develop sourcing strategies.
Purchase analyst responsibilities
Here are examples of responsibilities from real purchase analyst resumes:
- Transport purchases and contract and manage carriers (freight forwarders in order to arrange and manage the transportation of purchases.
- Write RFI and RFP documents and manage the process for each.
- Compile and manage the RFP excel database containing incumbent supplier pricing and alternative supplier pricing.
- Manage purchasing data within proprietary applications and ERP systems with accuracy.
- Manage and determine obsolete and/or slow moving inventory for all above mention commodities.
- Manage factory activities for key commodities encompassing resource management in materials and production.
- Update pricing for MRO items.
- Develop KPI for direct and indirect suppliers' to measure and manager their performance.
- Create contracts for services, parts, & equipment for all MRO engineering suppliers.
- Analyze energy, technology, and retail sectors to select undervalue equities for investment.
- Act as primary escalation point for RFQ's not respond to by their due date.
- Train and educate all departments on forecasting KPI's to help strengthen company inventory position.
- Receive requisitions (manual and MRP generate); analyze for quantity, specifications, and delivery requirements.
- Pull and review drawings and specifications on parts and create RFQ's to send out to suppliers for quote.
- Monitor, analyze, and update stock levels of inventory, open PO s, and sales projections in ERP software.
Purchase analyst skills and personality traits
We calculated that 13% of Purchase Analysts are proficient in Purchase Orders, Supplier Performance, and Continuous Improvement. They’re also known for soft skills such as Analytical skills, Communication skills, and Interpersonal skills.
We break down the percentage of Purchase Analysts that have these skills listed on their resume here:
- Purchase Orders, 13%
Source products on existing product line using alternative sources, maintain delivery and production schedules through monitoring purchase orders generated.
- Supplier Performance, 11%
Performed supplier audits and quarterly business reviews to collaboratively address supplier performance to goals.
- Continuous Improvement, 5%
Support continuous improvement efforts within the company including leading group initiatives, conducting presentations, and writing justifications for process changes.
- ERP, 5%
Monitored, analyzed, and updated stock levels of inventory, open PO s, and sales projections in ERP software.
- Cost Analysis, 5%
Improved analysis methods showing variance to targets and improved cost analysis process to suggest different strategies.
- Logistics, 4%
Developed and oversaw Supply Chain activities related to purchasing, shipping/receiving, inventory control and logistics for the Oncology Department.
"purchase orders," "supplier performance," and "continuous improvement" are among the most common skills that purchase analysts use at work. You can find even more purchase analyst responsibilities below, including:
Analytical skills. One of the key soft skills for a purchase analyst to have is analytical skills. You can see how this relates to what purchase analysts do because "management analysts must be able to interpret information and use their findings to make proposals." Additionally, a purchase analyst resume shows how purchase analysts use analytical skills: "manage supplier relationships by merging, compiling and analyzing system data and contracts. "
Communication skills. Another soft skill that's essential for fulfilling purchase analyst duties is communication skills. The role rewards competence in this skill because "management analysts must be able to convey information clearly in both writing and speaking." According to a purchase analyst resume, here's how purchase analysts can utilize communication skills in their job responsibilities: "optimized supplier relationships using various lines of communication, including email, telephone, and spreadsheets. "
Interpersonal skills. This is an important skill for purchase analysts to perform their duties. For an example of how purchase analyst responsibilities depend on this skill, consider that "management analysts work with managers and other employees of the organizations for which they provide consulting services." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a purchase analyst: "participate in weekly meetings excellent interpersonal and customer service skills maintain bom updated. ".
Problem-solving skills. For certain purchase analyst responsibilities to be completed, the job requires competence in "problem-solving skills." The day-to-day duties of a purchase analyst rely on this skill, as "management analysts must be able to think creatively to solve clients’ problems." For example, this snippet was taken directly from a resume about how this skill applies to what purchase analysts do: "assist with and coordinate the resolution of purchase order issues related to receiving and invoicing and escalate repeated instances of non-compliance. "
Time-management skills. Another crucial skill for a purchase analyst to carry out their responsibilities is "time-management skills." A big part of what purchase analysts relies on this skill, since "management analysts often work under tight deadlines and must use their time efficiently to complete projects on schedule." How this skill relates to purchase analyst duties can be seen in an example from a purchase analyst resume snippet: "carried out concurrent projects for various stakeholders, meeting tight deadlines and quality standards. "
The three companies that hire the most purchase analysts are:
- Publix4 purchase analysts jobs
- Reyes Holdings3 purchase analysts jobs
- Suffolk University3 purchase analysts jobs
Choose from 10+ customizable purchase analyst resume templates
Build a professional purchase analyst resume in minutes. Our AI resume writing assistant will guide you through every step of the process, and you can choose from 10+ resume templates to create your purchase analyst resume.
Compare different purchase analysts
Purchase analyst vs. Buyer
A buyer's duties include product sourcing and comparing resources for the best product range that would suit the specific needs of the business. Buyers must have excellent communication and negotiation skills to evaluate items that most likely benefit the customer and improve the sales of daily operations with cost-efficient products. They also conduct extensive research for market and price trends while considering the highest quality standards. Buyers should also possess strong analytical skills to create purchase orders and statistical analysis.
While similarities exist, there are also some differences between purchase analysts and buyer. For instance, purchase analyst responsibilities require skills such as "continuous improvement," "project management," "strong analytical," and "data analysis." Whereas a buyer is skilled in "customer service," "market trends," "strong negotiation," and "product quality." This is part of what separates the two careers.
Buyers earn the highest salaries when working in the automotive industry, with an average yearly salary of $59,735. On the other hand, purchase analysts are paid more in the retail industry with an average salary of $73,317.The education levels that buyers earn slightly differ from purchase analysts. In particular, buyers are 5.0% less likely to graduate with a Master's Degree than a purchase analyst. Additionally, they're 0.0% less likely to earn a Doctoral Degree.Purchase analyst vs. Inventory control analyst
An Inventory Control Analyst is responsible for managing the adequacy of inventories for distribution and business operations. Inventory Control Analysts inspect the quality of tools and materials required for the production and identify cost-reduction opportunities without compromising the quality standards. They also perform administrative and clerical duties, such as filing reports, creating purchase requests, processing customers' orders and payments, and overseeing sales targets. An Inventory Control Analyst must have excellent organizational and computer skills, especially handling and updating databases and updating information for accurate reference.
Each career also uses different skills, according to real purchase analyst resumes. While purchase analyst responsibilities can utilize skills like "supplier performance," "continuous improvement," "erp," and "cost analysis," inventory control analysts use skills like "inventory control procedures," "wms," "excellent organizational," and "cycle counts."
Inventory control analysts may earn a lower salary than purchase analysts, but inventory control analysts earn the most pay in the transportation industry with an average salary of $55,669. On the other hand, purchase analysts receive higher pay in the retail industry, where they earn an average salary of $73,317.inventory control analysts earn lower levels of education than purchase analysts in general. They're 5.4% less likely to graduate with a Master's Degree and 0.0% less likely to earn a Doctoral Degree.Purchase analyst vs. Senior purchasing agent
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.
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a purchase analyst is likely to be skilled in "strong analytical," "data analysis," "pivot tables," and "quality standards," while a typical senior purchasing agent is skilled in "customer service," "contract management," "federal acquisition," and "excellent organizational."
Senior purchasing agents make a very good living in the energy industry with an average annual salary of $89,158. On the other hand, purchase analysts are paid the highest salary in the retail industry, with average annual pay of $73,317.When it comes to education, senior purchasing agents tend to earn similar degree levels compared to purchase analysts. In fact, they're 1.2% more likely to earn a Master's Degree, and 0.2% more likely to graduate with a Doctoral Degree.Purchase analyst vs. Administrative analyst
An administrative analyst specializes in analyzing the company's processes and operations to come up with the best practices for the business. Their responsibilities revolve around conducting research and analysis through site inspections, surveys, interviews, and assessments. They must also coordinate with different department personnel to gather and examine data, ensuring that all processes are profitable and efficient. Furthermore, as an administrative analyst, it is essential to present findings and progress reports in adherence to the company's policies and regulations.
Even though a few skill sets overlap between purchase analysts and administrative analysts, there are some differences that are important to note. For one, a purchase analyst might have more use for skills like "supplier performance," "continuous improvement," "erp," and "logistics." Meanwhile, some responsibilities of administrative analysts require skills like "customer service," "patients," "powerpoint," and "windows. "
The technology industry tends to pay the highest salaries for administrative analysts, with average annual pay of $73,935. Comparatively, the highest purchase analyst annual salary comes from the retail industry.administrative analysts reach similar levels of education compared to purchase analysts, in general. The difference is that they're 0.4% more likely to earn a Master's Degree, and 0.7% more likely to graduate with a Doctoral Degree.Types of purchase analyst
Updated January 8, 2025
