Procurement Analyst
2 weeks ago
Procurement Analyst
New York, NY
Full Time
Salary :$60k/Year + Benefits
Position Summary
The Procurement Analyst specializes in conducting in-depth research and analysis of procurement-related data to support strategic decision-making and operational efficiency. This role involves gathering data from various sources, and entering data into the current record of truth, ServiceNow. In addition, the role will be responsible for creating weekly/monthly/quarterly/annual report creation in support of tactical and strategic enterprise supplier renewals, net new contracts, performance metrics, inventory levels, and financial indicators. The Procurement Analyst collaborates with the procurement team to identify cost-saving opportunities, assess supplier capabilities, manage procurement risks, and drive continuous improvement in the procurement process.
Key Responsibilities of a Procurement Analyst include:
- Daily data entry to maintain procurement reports and dashboards.
- Bill of Materials Management: Create, review, and update BOMs for IT hardware, software, and services in alignment with project requirements.
- Order Processing: Work closely with vendors and suppliers to obtain quotes, process purchase orders, and ensure timely delivery of materials.
- Support Procurement Manager with day-to-day procurement priorities including ordering, vendor management and
- Analyzing spend data and identifying cost-saving opportunities
- Monitoring and evaluating supplier performance and compliance
- Conducting market research to identify potential suppliers and trends
- Assisting in contract negotiations and drafting procurement agreements
- Supporting the procurement team in supplier relationship management
- Participating in cross-functional meetings to align procurement strategies with organizational goals
- Collaborating with finance teams to ensure procurement activities align with budgetary constraints
- Using procurement software and tools to streamline processes and enhance data analysis Evaluating and recommending improvements to procurement policies and procedures
Required and Desired Skills To excel as a Procurement Analyst, candidates must possess a combination of analytical skills, business acumen, and effective communication abilities. The role requires the ability to translate complex data into actionable insights that can drive procurement decisions. Experience in procurement or supply chain management is a valuable asset, but individuals with a background in data analysis, finance, or operations can also transition into this role with the right skill set.
Here are some key skills and qualifications required for a Procurement Analyst:
Data analysis and interpretation Market research and supplier evaluation Sourcing and procurement strategy development Supplier relationship management Financial analysis and budgeting Contract management and negotiation Proficiency in procurement software and tools Advanced Microsoft Excel skills Strong problem-solving and critical-thinking abilities Excellent written and verbal communication Attention to detail and accuracy Ability to work collaboratively in cross-functional teams Understanding of procurement regulations and best practices
Required Education
Most companies seek candidates with a Bachelor s degree in fields such as:
- Supply Chain Management
- Business Administration
- Economics
- Finance
- Operations Research
- Statistics
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