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What is Purchasing and Procurement?

Purchasing and Procurement is a field of study in business focused on the process associated with sourcing, buying, and acquiring both goods and services from an external business.  Companies around the globe contract goods and services from other organizations to support their operations which require experts in the field coupled with legally binding agreements.

The curriculum for a Purchasing, Procurement, and Contracts Management degree program may include: supply chain management, contract law, negotiations, buying procedures, cost analysis, price analysis, contract administration, government contracts, vendor relations, human resource management, auditing, global trade, logistics, inspection, global procurement, construction management, cultural demand, and high-technology systems.

Procurement and purchasing agents are a vital position at most organizations.  These professionals ensure raw materials, parts, assemblies, equipment, and tools are available when needed to avoid disruptions in projects, process, and/or manufacturing.

Degree Median Salary vs Adjacent Degree Types

Source: BLS, US Census, and IPEDS

2024 Best Purchasing and Procurement Degree

The University of Virginia has long been known for its excellence, long history, and perseverance. It was founded in 1819 by the late President Thomas Jefferson. It is a leading institution in engineering, research, and other programs as it aims to improve the world through their program offers leading to innovation, discovery, and development of students’ full potential.

For individuals who are interested in continuing the certification of procurement and contract management, the University of Virginia offers a certification program that covers the core competencies approved by NCMA. This is open and suitable for professionals who are looking to expand and grow their careers. The university’s certificate program is accessible online with 2 courses per term to complete the program.

Acceptance Rate

23.94

Student to Faculty Ratio

15:1

The University of Maryland College is the best-known university in the entire state with a total of 85% graduation rate. As the state's flagship university, the institution is known for its outstanding colleges and schools in journalism, engineering, and business.

A Graduate certificate is offered at the university’s Robert H. Smith’s School of Business for acquisition and supply chain management. Supply chain management students at Smith’s School of Business are provided with world-class faculty in various field Logistics, Business and Public Policy. Students can access courses through an online platform for a total of 15 credits.

Acceptance Rate

44.18

Student to Faculty Ratio

18:1

George Washington University (George Washington University) is a well-known private institution with many outstanding degrees in various fields and in the humanities, languages and sciences. As a leading private research university, George Washington University promotes high-quality research projects and provides opportunities for its teachers and students.

GWU offers a wide range of government procurement degrees and courses through its GW Law. The university’s program for procurement prides itself through their distinguished faculty members with leading knowledge on procurement. This course explores and aims to break down rules and other important degree areas.

Acceptance Rate

40.84

Student to Faculty Ratio

13:1

SLU is a prestigious Roman Catholic University, known for its comprehensive education-education of mind, body and heart. SLU was founded in 1818 and has now transformed into the world's leading global leader in life-changing research, compassionate healthcare, and a campus committed to service and faith. 

Consistently being among the providers of quality education in supply chain management, the SLU faculty offers for Supply Chain Management in the nation. M.S Supply Chain Management seeks to reduce credit lines at a price that anyone can afford. Through the University’s Chaifetz School of Business, students will be trained, educated, and challenged to develop their knowledge in supply chain management with the help of esteemed faculty.

Acceptance Rate

58.28

Student to Faculty Ratio

9:1

Quinnipiac was founded in 1929 by Samuel Tator and his co-founder Phillip Troup. Today, Quinnipiac University offers a total of 58 undergraduate professional courses, including 20 postgraduate courses including the Doctor of Laws program.

Quinnipiac University Business School offers a Bachelor of Science in Supply Management, dedicated to training future chain analysts and logicians to become efficient and efficient supply chain operation problem solvers.  It promotes career-readiness as the hallmark of its program. Students are required to take internships and field-based capstone projects.

Acceptance Rate

70.12

Student to Faculty Ratio

14:1

The St. Joseph’s university, a private Jesuit University, is a top-ranked institution A variety of majors, minors, graduate programs, degree and certificate programs. Students are welcome and encouraged to adopt traditional and blended learning forms in their chosen fields.

The Erivan K. Haub School is JSU’s top-tier school of business with a future-based curriculum, 8 departments, and highly regarded faculty. Among the outstanding departments at Haub’s School of Business, the department of Management has been providing students with comprehensive programs covering a variety of courses in management. It provides MGT260 courses to solve legal and ethical issues in supply chain management.

Acceptance Rate

74.98

Student to Faculty Ratio

11:1

Mount St. Mary’s University is a leader in liberal arts education known for its commitment to Catholic doctrines and teachings. It offers a total of 80 majors including minors, concentration and features 25 adult undergraduate programs. 

Students with interest in procurement and logistics can access a certificate program on Government Contract Management at MSMU. This certificate program brings students into the field of federal procurement and regulations. It is administered through MSMU’s Bolte School of Business with an enormous and impeccable reputation of producing quality graduates and impeccable business programs curricula.

Acceptance Rate

74.79

Student to Faculty Ratio

13:1

Michigan Central University is a well-known private research institution whose mission is to prepare students for productive careers as responsible citizens. CMU is an organization that upholds the values of integrity, respect and compassion.  At Central Michigan University business students can apply for a Purchasing and Supplying Major. In this major, they will focus on procurement and supply courses in different fields to identify global supply sources. This course is exclusive for individuals who are admitted to CMU’s School of Business.

Acceptance Rate

69.51

Student to Faculty Ratio

20:1

Webster University has been operating high-quality higher education in the United States for more than 100 years. This is a private and non-profit university with a long-term reputation at the academic level.  Webster University offers a broad course in Procurement and Acquisitions Management. This course has a comprehensive theoretical and application background under the constraints of management departments. It has 36 credit hours and can complete the master's program for students who are interested in continuing to study.

Acceptance Rate

56.88

Student to Faculty Ratio

12:1

Located in Melbourne, Florida, the Florida Institute of Technology is leader for top-tier academic programs namely engineering, aeronautics, psychology, and liberal arts. It was founded in 1958 as the Brevard School of Engineering, and was later renamed the Florida Institute of Technology until today.

The college is known for its leading courses, including the prestigious business school. Under this college, FIT offers a Master’s Program in Management – Acquisition and Contract Management with a strong focus in acquisition and contract management to meet the demand of the working world. The program prides itself in providing bright and guaranteed successful careers ahead of its graduates. 

Acceptance Rate

65.75

Student to Faculty Ratio

14:1

CUA or Catholic University of America offers a variety of academic courses in different majors and fields. It also has an outstanding 7:1 teacher-student ratio, with a graduation rate of 72.73%.

The Catholic University of the United States provides high-quality supply chain management master's programs for business students. It emphasizes partnerships with well-known and well-known institutions (such as NASA) to provide high-quality education for its students. In addition, the Master of Science program is not only broad in scope, but also has a flexible format designed to meet the needs of professionals.

Acceptance Rate

85.36

Student to Faculty Ratio

7:1

TNU or Trevecca Nazarene University is a non-profit, private Christian-affiliated university in Nashville. It advocates first-class liberal arts education, and its mission is to spread honest service in the context of Christianity.

Trevecca Nazarene University (TNU) has an outstanding business plan management organization that provides students with a variety of freedoms to tailor degrees. They can choose among various disciplines and professions, including procurement and supply chain management, to prepare them for employment. It provides a fast-paced program that can be completed in just 15 months.

Acceptance Rate

62.33

Student to Faculty Ratio

20:1

A leader in research and higher education, Arizona State University is Arizona’s finest public research institution. It hopes to promote academic achievement, honor diversity, and create a community of smart scholars and well-rounded thinkers to positively affect the world.

ASU provides one of the country's premier procurement degree and business service program. Its procurement department has been honored for its outstanding performance in the procurement industry. Students and businesses who wish to proceed shall qualify based on ASU’s specific and actionable admission process.

Acceptance Rate

86.47

Student to Faculty Ratio

19:1

The University of Alabama in Huntsville offers students a wide range of academic and diverse courses in various fields. It focuses on hands-on courses to train the next leaders of the country.

A graduate certificate is offered at UAH in Federal Contracting and Procurement Management. The program is specifically designed to meet the professional needs of its field development. In addition, the program is also designed for individuals with a major or bachelor's degree in purchasing management. 

Acceptance Rate

82.57

Student to Faculty Ratio

17:1

CC is a co-educational baccalaureate college in New York. Although it is not large in scale, it is an independent institution offering liberal arts and postgraduate courses.

At Cazenovia College, it offers an undergraduate certificate in procurement and contract management through its business and management courses. Its business and management covers a wide range of courses in different fields of accounting, finance and management. It has program length and is expected to provide individuals with the basic tools and knowledge needed for purchase and acquisition.

Acceptance Rate

93.71

Student to Faculty Ratio

10:1

The school was founded in 1930 as the Norfolk branch of the College of William and Mary. Now, the Old Dominion has emerged as one of the largest public research institutions in Virginia.

ODU prepares students of a productive career in the future as future leaders through their courses and programs. It offers postgraduate certificate in public procurement and contract management.  This certificate program helps to pave the way for individuals to succeed in their careers and careers through rigorous training and education. It aims to enhance students' skills and knowledge in the field of procurement and contract management.

Acceptance Rate

89.33

Student to Faculty Ratio

17:1

Since its establishment in 1900, Montana Tech University in Montana has now become a leader in STEM universities. It is now a world-class engineering school, focusing on research, engineering and science.

In 2015, MTU became the state’s first member of the SAP University Alliance. This membership and recognition have paved the way to higher quality of education using SAP’s software and technology. SAP is a unique person in the world in the upsurge of enterprise systems, enterprise systems and business intelligence.

Acceptance Rate

90.96

Student to Faculty Ratio

13:1

The University of Houston – Downtown is a premiere comprehensive university in Texas. Through the institution’s perseverance and commitment to hard work and excellence, UHD has now become one of the leading institutions in Texas.

UHD offers a Bachelor of Business Administration Supply Chain. It is a certified program and is frequently consulted and updated according to NIGP. Students of Supply Chain management at UHD will study different major and minor subjects with 120 credit hours of work.

Acceptance Rate

88.68

Student to Faculty Ratio

18:1

Potomac College-Herndon is an accredited institution of higher education and a unique private and for-profit university. It values career-oriented courses and provides flexible courses to pave the way for comprehensive learning.

Potomac college has a comprehensive program in government contract management. It is a Bachelor of Science degree dedicated to educating and training students to master the field of government contract management. It emphasizes four learning values and aims to enable students to learn how to assess problems, demonstrate oral and written communication skills, prepare and analyze financial statements, and apply technology to problem analysis.

Acceptance Rate

-

Student to Faculty Ratio

8:1

It is a private for-profit organization. Potomac College in Washington is one of the campuses of Potomac College and is responsible for providing top academic programs in higher education.

The Washington campus has established a community of business professionals with a large number of government contract management capabilities. The institute offers a bachelor degree in government contract management. The program’s curriculum is designed to equip students to become successful logicians, cost estimators, and purchasing managers

Acceptance Rate

-

Student to Faculty Ratio

8:1

The University of Management and Technology is a private university located in Arlington, Virginia. UMT provides undergraduate and graduate education and has been recognized and honored by many different organizations and associations.

UMT provides an executive certificate in the acquisition management. The supervisor certificate prepares students for the field of acquisition management. The program follows the latest standards set by PMI and allows students to obtain professional development units.

Acceptance Rate

-

Student to Faculty Ratio

7:1

Strayer University has four unique campuses in Pennsylvania. Each campus offers a wide range of flexible and comprehensive courses in different fields and courses.

The institution offers a wide range of procurement and contract management courses. Students can enroll in its Diploma in Acquisition and Contract Management. A plan was outlined and developed to provide students with top-level knowledge and all current and relevant knowledge of contract management principles and policies that they can use in the real world.

Acceptance Rate

-

Student to Faculty Ratio

29:1

Strayer University was originally founded as Strayer’s Business College in 1882 before it received its grant to become a university in 1998. Through its online program and student visit program, it has attracted more than 50,000 students in total.

Strayer University offers an associate course on the art of acquisition and contract management through its online course. These courses will start in April this year, are accessible and can be completed online. It aims to provide an understanding of contracts, quality assurance and recommendations.

Acceptance Rate

-

Student to Faculty Ratio

11:1

Strayer University is a for-profit institution that opens many online courses to students from all over the world. It provides an excellent learning experience in human resources and business.

An 11-week course diploma is offered by Strayer University – Global Region. It is accessible online with a flexible curriculum and course schedule to students. It tackles the fundamentals of purchasing and materials management through systematic and rigorous online education and training. 

Acceptance Rate

-

Student to Faculty Ratio

32:1

Strayer University has many campuses across the country, with campuses located in Virginia. The institution is known for its online courses and programs, as well as top-notch teachers and academic assistance.

Students who are truly eager to learn about acquisition and contract management can continue to study for a Bachelor of Science degree. The concentration program, as offered by the institution prepares them to become a competent professional in the future. It hopes to provide students with competitive courses and training through its programs and systems.

Acceptance Rate

-

Student to Faculty Ratio

37:1

Top Purchasing and Procurement Degrees

Degree programs in procurement and purchasing can be found offered from a number of small and large universities across the country.  Finding the right degree program for you requires diligence, research, and aligning your priorities with available programs.

To determine your personal priorities, we recommend taking the time to read our comprehensive guide to the college admissions process.  Our guide provides a framework for establishing your personal priorities along with a detailed look at the various components involved with the college admissions process.  Once you have your priorities in place, finding the perfect college program to fit your goals will more easily come into focus.

To help you get matched to the perfect degree program for you, we have created a summary of the most popular degree programs below.

Purchasing and Procurement Bachelor Degrees

Online bachelor degrees in purchasing management and procurement are available from a number of higher education institutions.  Bachelor degrees in this field can be conferred as a Bachelor of Business Administration (BBA), Bachelor of Arts (BA), or Bachelor of Science (BS).  How degrees are conferred by universities and colleges is a function of the curricular design of the program and overall emphasis of the degree.  Students should expect to take an array of general education courses such as philosophy, psychology, English composition, and sociology in conjunction with core business classes.

Core business classes will typically include a common set of courses from school to school.  Examples of classes you will likely find include:

Purchasing and Procurement Master Degrees

Master degrees in purchasing and procurement contain a series of upper-level classes intended to help students and professionals gain a deeper understanding of this field of study.  Classes will vary from school to school and can be flexible or predetermined.  In other words, a college or university may provide students the ability to select a series of core classes and electives resulting in a customized degree or a set of established classes.

Degrees can be conferred in three primary ways: Master of Science (MS), Master of Arts (MA), or Master of Business Administration (MBA).   Graduate students should expect degree programs to take 1-2 years based on full-time enrollment.  Options may exist for accelerated master degree programs based on school resources and student qualifications.

Educational Requirements in Procurement

In terms of educational requirements, Purchasing, Procurement, and Contracts Management degree holders will have typically studied the following courses while in college:

Employment Information & Purchasing Specializations

College degrees in procurement may be found in a course catalogue listed in a variety of ways. You may find it under buyer, purchasing, contracts management, or procurement. The skills you will learn in these programs will help you identify viable solutions for corporations to achieve their goals. Investing in a purchasing degree may prepare you for other careers in business. Consider the following pathways for further research: project specialist, division managers, human resources, sales managers, merchandiser, market research analyst, retail manager, product developer, technical designer, quality assurance, logistics manager, or contract administrator.

Purchasing Salary & Procurement Job Growth

Purchasing agents currently average $66,610 a year which is $32.02 an hour.  Meanwhile, procurement managers average $115,760 a year.  The largest employers of buyers and purchasing specialists are private corporations, federal government, merchandisers, aerospace, and instrumentation manufacturers.  Top paying states for purchasing managers include New Jersey, Missouri and New York which average in excess of $140,000 a year.

Employment growth is expected to be 9% for purchasing managers.  This growth rate will add some 6,300 new jobs to the economy in this reporting period.  A rising wage coupled with new jobs will result in opportunities to enter the field of procurement and increase job responsibilities.  College graduates will have a decided edge in procurement as 95% of hires for purchasing managers have a degree.

Resources for Purchasing Managers

Additional information in this field of study can be obtained outside academia by utilizing a number of professional associations and organizations.  The most popular, prominent organizations in procurement and purchasing include the American Purchasing Society (APS), Institute for Supply Management (ISM), and the National Procurement Institute (NPI).  All three provided students with tools, resources, research, professional networking, and membership benefits to help take your career to the next level.

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