A consumer who purchases something for their own use is known as a purchaser. A buyer is (typically) a trader who buys a good to trade. The distinction between the two is who stands to gain from the purchase. Buyers are those who purchase goods with the intention of reselling them, such as those who frequent retail clothing stores and outlets. Customers shop for goods that will be used by the business or organization they work for.
What is a purchaser?
A purchaser also makes purchases on behalf of their company, but their purchases are typically materials and supplies required for running their business. Instead of buying goods to resell to customers, buyers, also known as purchasing agents, evaluate, choose, and buy the products that their companies use on a daily basis.
For example, a buyer for a sizable manufacturing company may frequently be in charge of choosing and purchasing manufacturing tools or parts, office supplies, and shipping supplies. Although these items are required for the business to run effectively, they are not products that the business sells to customers. This indicates that buyers frequently engage in business-to-business transactions, purchasing goods from other companies to support the expansion and development of their own businesses. Many of the following tasks may be frequently performed by purchasing agents:
What is a buyer?
In essence, a buyer is someone who makes a purchase, whether it be a retail or wholesale transaction. A buyer is a professional in business who chooses and purchases goods for their company to resell to customers. Additionally, buyers choose and make purchases of goods or supplies required by businesses to produce and market goods to consumers. A buyer typically works in a business-to-consumer setting where the purchases they make are essential to achieving customer sales and generating revenue for their organizations. Several common job duties that buyers are responsible for include:
Key differences between a buyer versus purchaser
To assist you in deciding which career path is best for you, take into account some of the distinctions between a buyer and a purchaser:
Essential job role
The primary distinction between a buyer and a purchaser is typically the type of position each professional holds. While purchasing agents typically locate and buy the materials and supplies their companies need in order to produce goods and services, buyers primarily specialize in the procurement of goods for their companies to sell to consumers.
A buyer researches goods that their companies can resell while also analyzing consumer markets to determine what products their organizations should sell. These experts take into account the products’ wholesale costs, retail value, and potential revenue In contrast, a buyer may be in charge of a variety of tasks that support their company’s manufacturing processes. They find low-cost supplies, equipment, raw materials, and resources that their businesses need to function and produce goods and services.
Industry
Many buyers work in the retail sector, evaluating and choosing particular products for their organizations to resell to customers. Typically, buyers seek out goods like electronics, clothing, home decor, and other retail items to buy for their businesses.
Although purchasing agents may also work in the retail sector, they can also find work in fields like medicine and health care, education, construction, and manufacturing. For instance, as the facility runs low on essential supplies, a purchasing agent for a large medical facility may be in charge of choosing and purchasing medical and healthcare supplies.
Salary
Education
The typical bachelor’s degree for purchasing agents is in finance, business management, supply chain management, or a closely related field. In addition, many employers demand that buyers hold a bachelor’s degree or higher, which can be different from the educational prerequisites for buyers.
However, a buyer can typically enter the field without a four-year degree in an entry-level position, such as an assistant buyer, and advance to the position of a buyer or senior buyer. Although some employers might insist on buyers having undergraduate degrees, the majority hire buyers for entry-level positions and provide advancement opportunities.
Work experience
Many buyers begin working in the position after obtaining a four-year degree. Conversely, buyers can gain experience through a position as a trainee buyer or by obtaining an undergraduate degree and starting out in the position. However, a buyer typically gains work experience as an assistant buyer before transitioning into a career as a buyer. However, both professions can offer plenty of career advancement opportunities.
Qualifications
Many buyers obtain professional certifications that enable them to fill senior-level positions. The Certified Purchasing Professional (CPP), Certified Green Purchasing Professional (CGPP), Certified Professional Purchasing Manager (CPPM), Certified Professional Purchasing Consultant (CPPC), and Certified Professional in Distribution and Warehousing (CPDW) credentials are just a few of the certifications that the American Purchasing Society offers to buyers. Depending on the industry and job role of the purchasing agent, some employers may demand that they possess credentials in one of these areas.
In particular, if they begin their careers without a four-year degree, buyers may not always possess a professional certification. However, the Institute for Supply Management (ISM) offers the Certified Purchasing and Supply Manager (CPSM) credential for buyers who earn their undergraduate degrees and who have at least three years of experience in their industry and a four-year degree.
Tips for choosing your career
When deciding whether to become a buyer or purchasing agent, take into account the following advice:
Jobs for buyers and purchasers
There are many jobs for you to consider if you’re interested in a career where you can assist organizations with sourcing their materials. Here are some jobs similar to buyers and purchasers:
Day in the Life of a Procurement Specialist aka Buyer
FAQ
What is the difference between a buyer and procurement?
While the purchasing process focuses on how goods and services are acquired and ordered, such as issuing purchase orders and making arrangements for payment, procurement focuses on the strategic process of product or service sourcing, such as researching, negotiating, and planning.
What is buyer in procurement?
While purchasing agents typically locate and buy the materials and supplies their companies need in order to produce goods and services, buyers primarily specialize in the procurement of goods for their companies to sell to consumers.
What is the difference between buyer and associate buyer?
An Associate Buyer manages the inventory, keeps track of it, and distributes the various materials as needed by the departments or staff. The Associate Buyer reports to the Buyer or Senior Buyer.
What is the difference between buyer and procurement specialist?
An agency buyer, purchasing agent, or buying agent are virtually identical terms, but these people work for organizations that focus on acquiring goods and real estate for other businesses. Briefly stated, agency buyers work for outside businesses, while procurement specialists (purchasing specialists) are employed internally.
