Careers in Purchasing/Inventory Management
Purchasing managers are hired by companies to find the best merchandise at the lowest possible purchase cost. Purchaser Managers find the best goods or services, choose suppliers, negotiate prices, and grant contracts that ensure that the right amount of the product or service is received when it is needed. They research sales records and inventory levels of current stock, find foreign and domestic suppliers, and stay current on any changes in either the supply of or demand for needed products and materials. They are responsible for all in-time purchase of required inventory and material for the organization. Factors like economic-efficiency and quality of goods and service procured are taken into account while purchasing stock of good for the company.
Post Graduation diploma and Certificate courses are available in purchasing Management. The eligibility for these courses is graduation while the duration may vary from 6-18 months. Some distance learning courses are also offered in purchasing management.
Career Prospects Of Inventory Manager
Purchase managers have wide spectrum of employment opportunities in public as well as private sector. They can seek employment in government departments, agencies and PSUs, Industries, corporate house, banks, financial corporations, and trading corporations. These professionals also have options in media, entertainment and fashion industries. Tourism, travel and hospitality industries also throw a lot of career options for purchasing managers. In recent times Telecom and IT sector has also opened the door of employment for these professionals.
Earning of a purchase manager varies from industries to industries. Salary also depends upon individual skill, qualification, experience, nature of job, location and nature of the employer. However, generally purchase managers have monthly salary of Rs 20,000-25,000 at the starting stage. With experiences this is bound to move upward.
Inventory Management Institutes In india
Indian Institute of Materials Management is a premier institute in India offering Certificate/PG Diploma courses in purchasing management. This institute has branches at Bangalore, Ahmedabad, Chandigarh, Chennai, Goa, Kolkata, Hyderabad, Delhi, Pune and Vadodara.Apart from this Annamlai university conducts a diploma course in Purchasing management as well. Various courses on inventory management from foreign universities like Arizona state university and California state university are also available online.