Vice President (VP), Procurement Salary
A Vice President (VP), Procurement earns an average salary of $152,599 per year. The skills that increase pay for this job the most are Strategic Planning, Supply Chain, and Leadership. Most people in this job have more than five years' experience in related jobs.
|Salary||$95,860 - $206,031|
|Bonus||$8,243 - $60,359|
|Profit Sharing||$0.00 - $25,434|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$100,907 - $256,708|
Job Description for Vice President (VP), Procurement
Vice presidents, procurement are usually in charge of procurement (purchasing) departments of any organization and report directly to the president of their organizations. Depending on the size of the company, they oversee lower-level managers who supervise procurement specialists, contract specialists, buyers, and their supervisors.Read More...
Procurement departments are very important to their business operations. Their departments employ buyers and specialists who procure supplies and materials needed by their company. These materials may be needed for making products that their organization sells or for their general business operations. They must acquire materials and supplies in the most efficient, honest, fair, and competitive way. Complex procurement departments have contract specialists to review contracts with software vendors and building owners. Vice presidents of procurement departments must make sure that their staff members are honest and objective and have no conflict of interest with vendors. Vice presidents, procurement, must make sure that their subordinates follow their organizations procedures and government rules and regulations related to restricted materials and minority contractors. Vice presidents of procurement departments must continuously follow up with managers to make sure that all orders are fulfilled in the most timely and efficient ways.
Vice presidents of procurement departments must have college degree in business, finance, management, or another relevant field. They must have experience in purchasing goods and managing people. They must have exceptional oral and written communications skills and excellent negotiation skills.
Vice President (VP), Procurement Tasks
- Supervise and direct the work of strategic sourcing personnel.
- Establish strong relationships vendors, facilitate communication, and work to ensure production and delivery targets are met.
- Lead the evaluation of suppliers and work to reduce vendor risk by developing scorecards and analyzing vendor performance.
- Direct efforts to improve supply chain efficiency, maintain product quality standards, and reduce costs.
- Develop and carry out strategies, policies, and procedures for the procurement of supplies for the entire organization.
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