This increases to £35,000-60,000 as you gain more experience, with senior buyers earning £55,000-70,000 a year, depending on the location and size of the organisation. However, even entry-level roles tend to pay well with starting salaries between £18,000 and £25,000 in the UK. How much you can earn as a buyer depends on your seniority in the role. Monitoring the stock quality and escalating any discrepancies to suppliers and management.Coordinating with inventory team, management, and stockroom.Understanding the target market and analysing trends in order to make informed buying decisions.
Arranging transport of goods and tracking orders to ensure timely delivery.Updating inventory and managing stock levels.Processing requisitions and updating management on the status of orders.Building relationships with suppliers and negotiating with them for the best price, quantities and delivery timescales.Researching, selecting and purchasing quality products and materials.Identifying the organisations purchasing needs.With the main focus of their role to select the best products and buy at reasonable prices to generate profit for their organisation, the buyer’s responsibilities revolve around this task. Buyers must understand their target market and be able to predict future trends so that they can purchase what the customer wants. Since a buyer can enhance profits by effectively negotiating and sourcing the best goods at competitive prices. It is an important role as profitability can be affected by how successful a buyer is in their work. to resell to customers at retail or wholesale companies. Buyers research, evaluate and purchase merchandise such as clothing, electronic goods, food etc.