Agency Buyers vs. Procurement Specialist (2024)

FAQs

Is a procurement specialist the same as a buyer? ›

Based on my previous experiences, the difference between both roles is quite simple: Procurement includes strategic and the Buyer is more connected to operational tasks.

Purchasing is more transactional – it's how goods or services are ordered. On the other hand, procurement is an umbrella term that includes purchasing but also involves identifying company needs, selecting suppliers, establishing payment terms, and managing supplier relationships.

Purchasing focuses on short-term goals such as fulfilling the five rights in a transaction (right quality, right quantity, right cost, right time, and right place), whereas procurement focuses on strategic, long-term goals like gaining a competitive advantage or aligning itself with corporate strategy or goals.

Commonly, procurement specialists enter the field as analysts and work on specific tasks like researching vendors or analyzing the historical costs of certain materials. A specialist may advance to become a purchasing manager, director of procurement, or VP of purchasing.

The chief procurement officer, or CPO, leads an organization's procurement department and oversees the acquisitions of goods and services made by the organization. The CPO ensures that purchases will meet organizational needs while helping to reduce costs, give higher profit margins or both.

Buyers mainly specialize in the procurement of goods for their companies to sell to consumers, whereas purchasing agents usually find and purchase materials and supplies their companies need in order to produce goods and services.

While purchasing focuses on short-term goals and business needs, procurement focuses on strategic, long-term goals like corporate strategy and a competitive advantage. These two separate processes should be approached differently.

A Procurement Specialist, or Purchasing Specialist, acquires a company's various supplies. Their main duties include locating key suppliers, negotiating the company's purchasing agreements and making sure their materials and products meet the company's specifications. Build a Job Description.

Procurement can be categorized in several ways. It can be classified as direct or indirect procurement, depending on how the company will use the items being procured. It can also be categorized as goods or services procurement depending on the items that are being procured.

The constant drive to reduce costs and enhance efficiency can place Procurement Specialists under continuous stress. This pressure to perform can lead to longer hours and a persistent preoccupation with work, even during supposed downtime.

What is the difference between sourcing specialist and procurement specialist? ›

Sourcing is most concerned with how to get products that meet all business needs—time, quality, location, and quantity—at the best price. Procurement is a larger process that begins with sourcing and goes all the way through payment and supplier relationship management.

Working as a procurement agent gets difficult when you have to track multiple supply chains at once.

Becoming a procurement specialist requires qualifications in business administration, economics, supply chain management, or a related field. You need a bachelor's degree for many positions, and previous experience in a related field is helpful. To advance in this role, consider earning a master's degree in finance.

A Procurement Specialist, or Purchasing Specialist, acquires a company's various supplies. Their main duties include locating key suppliers, negotiating the company's purchasing agreements and making sure their materials and products meet the company's specifications. Build a Job Description.

In certain companies, a buyer does everything from sourcing, negotiations, PO management, expediting, etc. But generally, the sourcing specialist role is considered to be more strategic than a buyer.

A procurement manager is the person responsible for sourcing and buying products and services for their company. The role is sometimes also called a purchasing manager.