· The basic work of a buyer is to purchase goods that they feel can be sold to their target audience or to retailers who can get them a fair deal. For a buyer it becomes necessary to constantly analyse and update him/herself with the latest buying trends and market prices.
· To become a good buyer it is necessary to have a certain set of qualities that would help you get a fair and impressive deal with a seller and the purchaser you would be selling it to. Some of the qualities that are required to become a successful buyer include:
· Communication Skills – With your natural people skills and analytical abilities it becomes possible for you to get the best price from a supplier, when you are out their buying something for your company. It is necessary that you have the essential calculative skills so that you can make quick decisions when making a purchase. Building and maintaining of relationships with customers and suppliers will ensure you great savings for your company when you buy something. Collecting feedback from consumers and Attending trade fairs and exhibitions will allow you to expand your network and get better deals and updates on latest buying trends.
· Professional Experience – Becoming a buyer after gaining experience as an employee of a company will give you an edge over other buyers as you would be knowing the in an out of your company’s services, products and target base. You will have the understanding of the latest buying trends and how they would affect your company and the customers it targets. It is not only a buyer who needs to have prior experience but companies also prefer people who have earlier worked with them for quite a while.
· Specialized Degree – Getting a formal education in the field of marketing and business management would add credibility to your resume and help you get bigger brands to sell you their services and products. To get a much deeper knowledge of the purchasing industry you can do a 4 year degree course in Purchase and supply management. However, education is not necessary for a buyer but if you have a will that wants you to go above and beyond the minimum educational requirements, your employer or your customers would rely on you more than any other buyer as you would have the detailed knowledge of the functioning of the industry.
· Creating a Convincing Business Model – a business model that every seller dreams about, should be under your sleeves when approaching a company. This involves you to make a valuation of your business, a contingency plan, leverage of technology, client servicing model, the amount of staff you need, a fair idea of the excess capacity and a plan of succession.