A lot of my time is spent interacting with my internal business customers; understanding their projects and strategy. I have a lot of discussions about how we should set up contracts with suppliers, what's the latest and greatest in the world of innovation and technology, and how we can do things faster while still protecting our customers and our company.
CAREER
Purchasing Managers
Overview
Salary Median (2020)
$127,150
Projected Job Growth (2019-2029)
+3.8% (slower than the average)
Career
Roadtrip Nation Leaders in This Career
What Purchasing Managers Do
Plan, direct, or coordinate the activities of buyers, purchasing officers, and related workers involved in purchasing materials, products, and services. Includes wholesale or retail trade merchandising managers and procurement managers.
Other Job Titles Purchasing Managers May Have
Materials Manager, Procurement Director, Procurement Manager, Purchasing Director
How Leaders Describe a Typical Day at Work
A good day for me is a never ending series of meetings and calls with my internal customers and prospective/current suppliers (3rd party vendors). These calls and meetings are all aimed at identifying the best suppliers to build and deliver products and services for Capital One's customers. The objective of these discussions is to ensure Capital One has articulated the needs of our customers and then made sure the supplier can meet those needs at an affordable price.
Tasks & Responsibilities May Include
- Represent companies in negotiating contracts and formulating policies with suppliers.
- Develop cost reduction strategies and savings plans.
- Develop and implement purchasing and contract management instructions, policies, and procedures.
- Prepare bid awards requiring board approval.
- Direct and coordinate activities of personnel engaged in buying, selling, and distributing materials, equipment, machinery, and supplies.
Education
Level of Education Attained by Purchasing Managers
Most common level of education among people in
this career: Bachelor's degree (75%)
Associate's degree
Bachelor's degree
Master's degree
Majors Related to Career
Educational Paths Suggested by Leaders
Suggested Path
High School
Bachelor
Suggested Path
High School
Bachelor
Business/Commerce, General
Additional Skills & Experiences That Can Help You Excel
EQ - emotional quotient (also referred to as emotional intelligence). Relationship Management - understanding and knowing how to interact with others and meet them where they are. Sales - understand how sales work so you can read through the lines to ensure you are purchasing what you need. Communication - being a strong verbal and written communicator. Analysis - ability to receive and analyze information and translate it into action steps.
Leadership, confidence, and the ability to faciliate discussions with multiple stakeholders are all skills that are required to be successful in my role. Much of my job is to help forge alliances among multiple parties when those parties oftentimes have different priorities. Being able to find common ground in difficult situations is key to success. It's a bit like being a mediator in a dispute where you want both parties to feel like they can succeed together.
Getting Started
Recommended First Step for:
High School Students
Be open to the idea that life will change and priorities will evolve. Be willing to explore and pursue your passions, knowing that you can always do course corrections in life. Your choices and decisions don't have to be permanent. You can always build on past education and experiences to head in a new and exciting direction.
College Students
This page includes information from theO*NET 26.1 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.
