Fed Supply, a logistics recruitment firm, is here to shed light on the most crucial ones for you!

What hard skills to be a buyer

Procurement jobs demands a set of highly specialized skills, often explicitly required in the openings. It's crucial to understand the essence of these skills. Let's delve into some of the key abilities required.

Cost analysis

Accurate cost analysis plays a vital role in making strategic decisions related to corporate purchasing. Buyers need to meticulously examine different cost components, such as raw materials, labor, transportation expenses, taxes, and other related costs. Through this rigorous analysis, buyers can identify areas for potential savings without compromising product or service quality.

By comparing prices from various suppliers, they can negotiate more favorable rates and even discover opportunities for inventory optimization to minimize storage and management expenses.

Market knowledge

Developing this skill requires constant research into the products or services being purchased, the available suppliers in the market, technological advancements, pricing trends, relevant regulations, and any factors likely to impact the supply chain.

It also involves staying updated on competitive trends to understand their influence on the company's purchasing strategies. In-depth market knowledge empowers buyers to negotiate effectively with suppliers by leveraging relevant and up-to-date information, contributing to strategic decision-making.

Mastery of IT tools

In the digital era, proficiency in IT tools has become increasingly crucial in the field of purchasing. Companies rely heavily on software and applications to manage their purchasing processes efficiently. A tech-savvy buyer knows how to utilize these technological resources to enhance efficiency, transparency, and data management within the supply chain.

Some essential IT tools for a buyer include:

• Purchasing Management Software (or Systèmes de Gestion des Achats - SGA): This software centralizes and tracks all purchasing-related activities, such as supplier management, orders, contracts, invoices, and inventories.
• Data Analysis Systems: These tools enable buyers to collect, analyze, and interpret relevant data, aiding in informed decision-making.
• Online Sourcing Platforms: These platforms facilitate searching for potential suppliers, comparing offers, and launching online tenders.
• Contract Management Tools: These software programs assist buyers in drawing up, monitoring, and managing contracts with suppliers while also serving as reminders for important deadlines.

Mastering these IT tools allows buyers to enhance productivity, minimize human errors, optimize purchasing processes, and foster better collaboration with other departments within the company.

Supplier assessment

Evaluating suppliers involves a comprehensive process that goes beyond mere price comparisons. The buyer must thoroughly analyze various aspects, including the quality of products or services offered, the supplier's reputation in the market, financial stability, production capacity, delivery times, adherence to environmental and social standards, and their capacity for innovation.

To assess suppliers objectively, buyers can establish an evaluation system based on specific criteria, each weighted according to its importance for the company. Gathering relevant information can involve questionnaires, site visits, audits, past performance evaluations, and interviews.

Negotiation skills

A proficient buyer knows how to identify negotiation leverage, anticipate objections, and find mutually beneficial solutions. Effective negotiation can lead to significant cost savings, more favorable purchasing terms, and long-lasting relationships with suppliers.

Inventory control

Competence in inventory management is crucial for maintaining an optimal balance between product availability and associated costs.

A skilled buyer must be capable of forecasting demand, monitoring stock levels, and implementing effective sourcing strategies. Optimized inventory management prevents costly overstocking and stock-outs that can harm the business. Buyers need to stay attentive to market developments, fluctuations in demand, and consumption trends to adjust stock levels accordingly.

Regulatory knowledge

Mastery of regulations related to customs, import-export, quality standards, and legal aspects allows the buyer to safeguard the company from legal and financial problems while ensuring compliance with legal requirements. Buyers must proactively monitor regulations, staying informed about updates and changes that may impact purchasing decisions.

A thorough understanding of regulations also empowers the buyer to anticipate risks associated with purchasing imported products or working with foreign suppliers, thus ensuring a robust and sustainable supply chain management.

Qualities of a good buyer

Apart from technical skills directly related to the purchasing sector, a buyer must also possess essential qualities, commonly known as soft skills, to excel in their role.

Persuasion

Persuasion is a potent skill for a buyer as it empowers them to influence suppliers positively, securing advantageous purchasing conditions for the company. By being convincing and articulating their arguments clearly and persuasively, a skilled buyer can negotiate price reductions, shorter delivery times, and additional benefits. Additionally, this ability helps rally internal teams around purchasing decisions and gain their support for implemented strategies.

Spirit of initiative

Initiative is a quality that sets a buyer apart and adds value to their role. Proactively seeking opportunities to improve purchasing processes, identifying innovative suppliers, and anticipating market changes are all traits of a buyer with initiative.

By taking the lead in proposing innovative solutions, they contribute to the overall efficiency of the company while avoiding potential problems and staying updated with best practices.

Creativity

Buyers often encounter complex procurement challenges that demand innovative solutions. Having a creative mindset enables a buyer to identify new opportunities for cost savings, strategic partnerships, and alternative solutions to meet the organization's needs effectively.

Integrity

Integrity is a non-negotiable quality for a buyer, considering their responsibility in making significant financial decisions and interacting with suppliers.

Acting honestly, ethically, and transparently allows the buyer to build trust-based relationships with suppliers, ensure fair competition, and safeguard the company's reputation. A strong sense of integrity also ensures that purchasing processes are free from favoritism or conflicts of interest, promoting ethical and responsible purchasing management.

Good communication skills

Given their interactions with suppliers, colleagues, and internal stakeholders, buyers must possess excellent communication skills. Effective communication allows buyers to clearly express the company's needs, ask relevant questions, and ensure mutual understanding among all parties involved in the purchasing process.

It also facilitates rapid problem-solving, minimizes misunderstandings, and fosters harmonious collaboration within the company.

Customer orientation

Demonstrating a customer-centric approach is crucial for a buyer, understanding and striving to satisfy customer needs to the best of their ability. A buyer must show empathy and make decisions that align with customer preferences, even if they may differ from their own.

Buyer skills for resume: how to

When presenting your buying skills on your resume, consider the following tips

Create a concise list of specific purchasing skills relevant to the job you're applying for, such as cost analysis, commercial negotiation, contract management, and market knowledge.

Use relevant keywords from the purchasing field to improve your CV's visibility in applicant tracking systems (ATS) used by companies.

Prioritize the most important and relevant skills and consider organizing them into categories like "Negotiation and Contract Management" or "Cost Analysis and Procurement."

Illustrate your purchasing skills with concrete examples of past achievements, such as successful negotiations that reduced costs or implemented more efficient purchasing processes.

As always, a golden tip: ensure you possess and can justify the listed skills, as recruiters may inquire about them. Recruiters may ask specific questions, so it's important to be prepared and show off your skills in the interview.

Example of presenting procurement skills on a resume

Purchasing Skills:

• Cost Analysis and Expenditure Optimization
• Commercial Negotiation for Best Purchasing Conditions
• Contract Management and Obligation Monitoring - In-Depth Market Knowledge of Products X and Y
• Proficient Use of Purchasing Management Tools
• Efficient Inventory Management for Cost Minimization and Product Availability

Don't forget that your resume must be clear, concise, and well-structured. By highlighting your purchasing skills in a clear and relevant way, you increase your chances of attracting the attention of recruiters and securing job interviews.

Join Fed Supply for your procurement job

If you're a buyer, consider applying for our partner companies' job offers or submitting an spontaneous application. Fed Supply frequently looks for buyers for both permanent and temps jobs in Montreal. Feel free to explore exciting opportunities in the procurement field with us!