Purchasing, Procurement and Contract Management: Which Online Course is Best for Your Career Path?
If you’re looking for a career in supply chain management, you’ve likely heard of purchasing, procurement or contracting. There is a high demand for skilled candidates and plenty of long-term career opportunities in each area. While these three areas are distinctly different, they also feature elements of overlap in their required skills. You may have the opportunity to work in a variety of these sub-industries throughout your career, which is perfect for those who like learning new things or value a varied role.
There are several pathways to careers in these areas. Whether you’re already working there, have equivalent experience or are coming from a completely different industry altogether, selecting the best qualification is paramount to your success.
When it comes to Procurement and Contract Management online courses, a lot of training providers offer courses which appear similar. However, doing proper research into each course and its career outcomes will give you the best chance of a long term career path which is perfect for you.
Procurement Qualification – Diploma of Procurement and Contracting
The Diploma of Procurement and Contracting focuses on attaining competencies for working in the areas of procurement or contract management, particularly in the public sector.
You’ll learn core skills such as managing and finalising contracts, managing procurement risk, making procurement decisions and undertaking negotiations. Upon graduating, 97.8% of people are employed or in further study.
There are many elective units which you can select to complement the core competencies. However, it’s worth noting that most of these are all closely linked to procurement.
This course is best suited to those who have a clear career path in mind for post-graduation, due to the specific nature of the skills learnt. Perhaps if you’re already working in a specialised procurement role or are confident that this area is a long term career option for you, this course may be well suited.
If you’re seeking a qualification which provides excellent skills in business, procurement, contracting and purchasing, perhaps a different course may be better aligned with your goals.
Procurement Qualification – Diploma of Business (Procurement)
The Diploma of Business (Procurement) (BSB50120) is a popular and well-rounded course for a good reason.
It couples essential business skills with more specific procurement based units. Upon graduating, not only are you well equipped to work in procurement (or it’s related areas such as purchasing or contract management), you’ve got a solid understanding of business practices too.
By combining solid business knowledge with the specific skills required for your industry, you’re setting yourself up for long term success. This combination is well regarded by employers who value prospective employees that have a concrete understanding of the business landscape.
Due to the large number of elective units offered, you can tailor the Diploma of Business (Procurement) to your specific interests or gaps in your current skill set.
Manage supplier relationships, develop organisation policy, plan and implement strategic sourcing, manage contract performance and finalise contracts are just some of the units you can complete as part of this procurement qualification.
If leadership positions or senior roles are part of your long term career plan, the Diploma of Business (Procurement) (BSB50120) equips you with the skills and knowledge to help you gain these. By learning not just the specific supply chain skills, but also how to manage people, work in teams and foster positive relationships with suppliers, you’re setting yourself up for the best chance of success in the future.
Upon graduating, 92.8% of people are either employed or in further study. In terms of earning potential, the average salary for a Procurement Officer is $64,956. For Procurement Specialists, the average salary is higher, at $86,778. For management positions, the average earnings for a Procurement Manager can regularly exceed $95,000, making this career path a smart one.
The best part about completing a broad and well-rounded qualification is that it’s easy to move into different areas as your career progresses. As you want to try out other areas of the supply chain industry or the business world as a whole, you have the skills and knowledge to move there with ease.
Diploma of Purchasing and Diploma of Procurement
A Diploma of Purchasing is still available by some training providers but has mostly been superseded by the more modern and updated Diploma of Business (Procurement) (BSB50120).
Purchasing is an interesting and dynamic part of supply chain management, with plenty of roles on offer and high earning potential. However, it’s best to undertake purchasing units as part of a broader, up-to-date degree. The same goes for specific qualifications in contracting, too.
Making this smarter decision will mean you’re not ‘locked in’ to any specific industry and give you the freedom of choice as your career progresses, your interests change, or the industry develops. It also means you don’t have to complete (or pay for) multiple qualifications over time.
Choosing the best procurement and contract management course
Choosing the best procurement and contract management course to do online is an important career step. There are a few different procurement qualifications on offer, but however similar they may sound, they’re not all equal.
Selecting a well-rounded diploma qualification, that offers a comprehensive variety of units and sets you up for long-term career success is always going to be the best option. You want to be mindful of your career growth and earning potential, and ensure that these aren’t limited to a particular area. By having this foresight now, you will better afford yourself the opportunity of a lifetime of success in the supply chain industry.
The Diploma of Business (Procurement) (BSB50120) ticks all the right boxes, allowing you to graduate with a solid understanding of not just procurement but purchasing, contracting and business skills as a whole.