When you work in the supply chain and logistics disciplines, the procurement department of operations is an essential part of integrating and optimizing production and supply processes. This ensures the company functions optimally and that the customer, consumer or user receives the products they deserve in a timely fashion.
Every other department in the company — including inventory, operations, supply chain, production, transportation, materials and logistics — depends on the success of the procurement department, which includes the roles of analysts, schedulers and managers. The Vice President of Purchasing is at the forefront of all procurement and materials operations, making sure buyer communications, acquisition, products and money flow are in order.
If you’re aiming to fill this critical role in your company, you’ll need to know everything about the details and daily responsibilities involved. What are the specific tasks and job description of a VP of purchasing? Find out below.
Vice President of Purchasing Job Description
The Vice President of Purchasing reports directly to the company’s president and is in charge of overseeing the entirety of the procurement department. This includes directing those in lower-level roles like procurement managers — who, in turn, supervise buyers, analysts, procurement specialists and contract specialists.
Overseeing the business operations of the procurement department primarily involves successfully, efficiently and economically acquiring materials and supplies essential to the company’s function. The procured supplies may be for making products the company sells, or they might be supplies necessary to the operation of machines or other such business operations.
The VP of Purchasing is concerned not only with procuring proper materials. He or she must also ensure the supplies are high quality as well as cost-effective for the organization’s procurement budget. The VP must conduct his or her transactions with honesty and fairness while acting competitively to acquire the best deals. The process of procurement must be both thorough and efficient.
While attending to these needs, the VP is responsible for making sure all subordinates are objective, honest, hardworking and adherent to company standards and procedures. He or she must comply with government regulations and restrictions on minority contractors and materials. Maintaining a constant flow of communication with managers is crucial to ensuring timely and effective order fulfillment.
In short, a Purchasing VP’s general responsibilities include:
- Overseeing and directing sourcing and strategy personnel
- Establishing communication and relationships with vendors
- Ensuring production and delivery occurs on-schedule
- Analyzing and evaluating the performance of vendors
- Developing and facilitating efficient procurement strategies
- Improving the supply chain by reducing costs and maintaining standards for product quality
VP of Purchasing Salary and Qualifications
The Vice President of Purchasing is a high-level position, and, therefore, it requires impressive qualifications, including:
- A bachelor’s or master’s degree in finance, business, management or a relevant field
- Five or more years’ experience in the field
- Specific experience in employee management and product purchasing
- Exemplary skills in negotiation and communication — both oral and written
The average annual salary for a Vice President of Purchasing is upwards of $170,000, although it may vary based on skills, performance and experience.
Hire Your VP of Purchasing Today
Looking for a qualified candidate to fill this critical role? Spending time and organizational resources on searching, recruiting and interviewing can take away from your company and be a lengthy process — leaving you with an empty space in the supply chain rather than the capable leader you need. Optimum Supply Chain Recruiters can help.
With over 100 years of supply chain and logistics experience, we specialize in understanding your organization, recruiting top executive talent for your company and filling your vacant role with the best candidate. Explore our contingency recruiting and dedicated engagement services today.