How much does a Director of Procurement make hourly at companies like ESPEY MFG & ELECTRONICS CORP in the United States? The average hourly wage for a Director of Procurement at companies like ESPEY MFG & ELECTRONICS CORP in the United States is $92 as of March 26, 2024, but the range typically falls between $81 and $105. Hourly rate can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. View the Cost of Living in Major Cities
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The Director of Procurement evaluates and develops strategic supplier relationships, negotiates contracts, and implements systems for monitoring performance, assessing risk, and responding to changes in demand or disruptions in the supply chain. Directs the procurement and purchasing operations and strategy to provide the materials and services to meet organizational requirements for quality, volume, availability, and pricing. Being a Director of Procurement designs processes and systems and utilizes technical tools to analyze data and increase responsiveness to material demands. Collaborates with other functions to define current and future inventory requirements and manage inventory levels. In addition, Director of Procurement incorporates auditing processes to ensure procurement and recordkeeping comply with any applicable industry or governmental regulations. Requires a bachelor's degree. Typically reports to senior management. The Director of Procurement manages a departmental sub-function within a broader departmental function. Creates functional strategies and specific objectives for the sub-function and develops budgets/policies/procedures to support the functional infrastructure. Working as a Director of Procurement typically requires 5+ years of managerial experience. Deep knowledge of the managed sub-function and solid knowledge of the overall departmental function. (Copyright 2024 Salary.com)
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Core compensation
Includes base and short-term incentives
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