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Purchasing Officer
What is a purchasing officer?
A purchasing officer is responsible for sourcing and buying goods or materials that are later resold or used as part of a business's daily operations. When they work for retail businesses, procurement officers primarily source products that the business then sells to make aprofit. In contrast, when they work for businesses that make their own products, procurement officers source materials that the business later uses in the manufacturing process.Depending on the size of the organisation, procurement officers may specialise in a particular type of product or a certain aspect of the buying process. Here are some of a procurement officer's primary duties:Related:What does a purchasing manager do?
Sourcing products
The first aspect of purchasing involves sourcing products. Procurement officers liaise with sales, marketing, product development,manufacturingand warehouse departments to establish their purchasing needs. Then, they research and evaluate vendors to find the most suitable products and prices. Sometimes, this research involves visiting potential vendors' offices or warehouses.
Negotiating purchasing terms
After sourcing suitable inventory, procurement officers negotiate with vendors to achieve the best possible prices and terms. It's usually possible to negotiate price breaks and bulk discounts, but factors like dispatch times and return policies also play a key role in these negotiations. Once procurement officers agree on suitable terms with avendor, they can then prepare a contract and formally make purchases.Related:How to write a purchaser cover letter (With examples)
Receiving products
Procurement officers are also responsible for tracking orders and monitoring deliveries to ensure that their employer receives products correctly. They check the quality of the materials or goods and communicate with the vendor if problems occur. Moreover, they update stock databases after receiving the goods and coordinate with warehouse staff to ensure that these goods are correctly stored.
Monitoring stock and costs
Many procurement officers monitor stock levels so they can easily and quickly make future orders. Sometimes, they prepare reports to help them understand the stock's movement in and out of the business to optimise order size and frequency. Additionally, they may perform routine cost analyses to help the business calculate profit margins and make improvements.
London is the capital and largest city of England and the United Kingdom. It stands on the River Thames in south-east England at the head of a 50-mile (80 km) estuary down to the North Sea, and has been a major settlement for two millennia.[9] The City of London, its ancient core and financial centre, was founded by the Romans as Londinium and retains boundaries close to its medieval ones.[note 1][10] Since the 19th century,[11] "London" has also referred to the metropolis around this core, historically split between the counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire,[12] which largely comprises Greater London,[13] governed by the Greater London Authority.[note 2][14] The City of Westminster, to the west of the City of London, has for centuries held the national government and parliament.
London, as one of the world's global cities,[15] exerts strong influence on its arts, commerce, education, entertainment, fashion, finance, health care, media, tourism, and communications,[16] and therefore has sometimes been called the capital of the world.[17][18][19] Its GDP (€801.66 billion in 2017) makes it the biggest urban economy in Europe,[20] and it is one of the major financial centres in the world. In 2019 it had the second-highest number of ultra high-net-worth individuals in Europe after Paris[21] and the second-highest number of billionaires of any city in Europe after Moscow.[22] With Europe's largest concentration of higher education institutions,[23] it includes Imperial College London in natural and applied sciences, the London School of Economics in social sciences, and the comprehensive University College London.[24] The city is home to the most 5-star hotels of any city in the world.[25] In 2012, London became the first city to host three Summer Olympic Games.[26]
London's diverse cultures mean over 300 languages are spoken.[27] The mid-2018 population of Greater London of about 9 million[5] made it Europe's third-most populous city.[28] It accounts for 13.4 per cent of the UK population.[29] Greater London Built-up Area is the fourth-most populous in Europe, after Istanbul, Moscow and Paris, with 9,787,426 inhabitants at the 2011 census.[30][31] The London metropolitan area is the third-most populous in Europe after Istanbul's and Moscow's, with 14,040,163 inhabitants in 2016.[note 3][4][32]
London has four World Heritage Sites: the Tower of London; Kew Gardens; the combined Palace of Westminster, Westminster Abbey, and St Margaret's Church; and also the historic settlement in Greenwich, where the Royal Observatory, Greenwich defines the Prime Meridian (0° longitude) and Greenwich Mean Time.[33] Other landmarks include Buckingham Palace, the London Eye, Piccadilly Circus, St Paul's Cathedral, Tower Bridge and Trafalgar Square. It has numerous museums, galleries, libraries and sporting venues, including the British Museum, National Gallery, Natural History Museum, Tate Modern, British Library and West End theatres.[34] The London Underground is the oldest rapid transit system in the world.
