Top 10 Commodity Buyer Certifications
This article provides an overview of the most important certifications for commodity buyers, helping readers understand their importance and how to obtain them.
Updated 16 min read
Certifications are important for commodity buyers in the job market because they demonstrate a level of expertise and commitment to the field. They provide employers with assurance that the candidate is knowledgeable about industry trends, regulations, and best practices for purchasing commodities. Certifications also give employers evidence that the candidate has taken initiative to gain additional knowledge and hone their skills. Certifications can be a great way to stand out from other candidates and give an edge when interviewing for a job. Additionally, certifications provide an opportunity for ongoing learning which keeps commodity buyers up-to-date on industry developments and best practices.
The purpose of this article is to review the top certifications for Commodity Buyers and explain how they can enhance a commodity buyer's career.
What are Commodity Buyer Certifications?
Commodity buyer certification is a program designed to help buyers understand the complexities of purchasing commodities in bulk. It provides buyers with the knowledge and skills necessary to effectively negotiate and purchase commodities from suppliers, as well as manage the risks associated with commodity trading. The certification program covers topics such as market analysis, pricing strategies, supply chain management, risk management, and sustainability.
By participating in a commodity buyer certification program, buyers can gain the necessary expertise to confidently make informed decisions when it comes to purchasing commodities. They will learn how to identify reliable suppliers, ensure quality control of the purchased items, negotiate favorable terms and prices, and conduct due diligence when vetting potential suppliers. Additionally, they will become familiar with various industry standards and regulations that must be met in order to properly manage commodity purchases. By having an understanding of these standards and regulations, buyers will be able to protect their investments by reducing their exposure to losses caused by unforeseen circumstances such as price volatility or production delays.
Finally, having a commodity buyer certification can give buyers an edge over competitors who lack this important qualification. Buyers certified in this field are more likely to land lucrative deals due to their superior knowledge of the industry and ability to accurately assess potential risks associated with each transaction.
Pro Tip: When selecting a commodity buyer certification program, make sure to research the program’s curriculum and accreditation. This will help ensure that you gain the necessary knowledge and skills to be successful in the field of commodity buying.
Related: What does a Commodity Buyer do?
Top 10 Commodity Buyer Certifications
Here’s our list of the best certifications available to Commodity Buyers today.
1. Certified Purchasing Manager (CPM)
Certified Purchasing Manager (CPM) is a professional certification offered by the Institute for Supply Management (ISM). It is designed to recognize individuals who have demonstrated knowledge and expertise in the field of purchasing, procurement, and supply management. The CPM certification is internationally recognized as a symbol of excellence for those working in the purchasing profession.
The CPM program consists of three parts: an online self-study course, a comprehensive exam, and an application process. The online self-study course covers topics such as strategic sourcing, supply chain management, contract negotiation, supplier relationship management, and global supply chain management. The comprehensive exam tests candidates on their knowledge of purchasing principles and practices.
It typically takes six months to one year to complete the CPM program. Candidates must pass the comprehensive exam with a score of at least 70% to be eligible for certification. After passing the exam, applicants must submit an application form along with supporting documentation such as transcripts or letters of recommendation.
The cost of the CPM program varies depending on whether you are a member or non-member of ISM. Members pay $495 while non-members pay $695 for access to the online self-study course and exam registration fee. There may also be additional fees associated with submitting your application form and supporting documents.
2. Certified Professional in Supply Management (CPSM)
Certified Professional in Supply Management (CPSM) is a professional certification program offered by the Institute for Supply Management (ISM). It is designed to recognize individuals who have achieved a high level of knowledge and expertise in supply management. The certification requires candidates to pass three exams, which cover topics such as strategic sourcing, logistics and operations, and global procurement.
It typically takes between six months and one year to prepare for the CPSM exam. Candidates must complete 120 hours of self-study or ISM-approved coursework before taking the exam. The cost of the certification program varies depending on whether you take the self-study or coursework option; it can range from $1,000-$2,500 USD.
3. Certified Supply Chain Professional (CSCP)
Certified Supply Chain Professional (CSCP) is a professional certification program offered by the American Production and Inventory Control Society (APICS). It is designed to recognize professionals who demonstrate mastery of supply chain management best practices. The CSCP credential is recognized worldwide as the standard of excellence in supply chain management.
The CSCP program consists of three courses: Fundamentals of Supply Chain Management, Advanced Strategies for Supply Chain Management, and Execution and Operations of the Supply Chain. These courses cover topics such as global supply chain strategies, inventory control, demand planning, customer service, logistics, and quality management.
It typically takes around 18 months to complete the CSCP program. To get certified, you must pass all three courses and an exam administered by APICS. The exam consists of 150 multiple-choice questions that must be completed within four hours.
The cost to become a Certified Supply Chain Professional varies depending on your membership status with APICS. For non-members, it costs $1,495 for the entire program including all three courses and the exam fee. For APICS members, it costs $1,295 for the entire program including all three courses and the exam fee.
4. Chartered Institute of Procurement and Supply (CIPS)
The Chartered Institute of Procurement and Supply (CIPS) is a professional body that provides qualifications, training, and resources to individuals working in procurement and supply chain management. It is the world’s largest professional body for procurement and supply chain management professionals.
It takes around two years to complete the CIPS qualifications. The first step is to become an Associate Member of CIPS by completing the Level 3 Certificate in Procurement & Supply Operations or its equivalent. Once you have achieved this, you can then progress onto the Level 4 Diploma in Procurement & Supply Operations or its equivalent. Finally, you can complete the Level 6 Professional Diploma in Procurement & Supply or its equivalent to become a full member of CIPS.
To get started with your CIPS qualifications, you need to register with CIPS as an individual member. This costs £90 for UK residents and £150 for non-UK residents. You will then need to purchase the relevant course materials from CIPS which range from £200-£600 depending on the level of qualification being studied for. Additionally, there may be exam fees involved which are currently set at £180 per module for UK residents and £240 per module for non-UK residents.
Once you have completed all three levels of qualification, you will be eligible to apply for Chartered Membership status with CIPS which costs an additional fee of £250 per year (for UK members).
5. Global Purchasing Professional (GPP)
Global Purchasing Professional (GPP) is a certification offered by the Institute for Supply Management (ISM). It is designed to recognize individuals who have demonstrated expertise in global purchasing and supply management. The GPP certification is intended to validate the knowledge and skills of professionals who are responsible for managing global sourcing, procurement, and supply chain activities.
It takes approximately four to six months to complete the GPP certification process. Candidates must meet certain eligibility requirements, including having a minimum of three years of professional experience in purchasing or supply management, as well as passing an exam. The exam consists of multiple-choice questions covering topics such as global sourcing, contracts, logistics, and risk management.
The cost of obtaining the GPP certification varies depending on whether you choose to take an online or in-person course. Online courses typically cost between $1,000 and $2,000 USD while in-person courses can range from $2,500 to $4,000 USD. Additionally, there is a one-time fee of $225 USD for the exam itself.
Overall, obtaining the GPP certification requires dedication and hard work but can be beneficial for those looking to advance their careers in global purchasing and supply management.
6. International Purchasing and Supply Chain Management Professional (IPSCMP)
The International Purchasing and Supply Chain Management Professional (IPSCMP) is a professional certification program offered by the Institute for Supply Management (ISM). It is designed to provide supply chain professionals with the knowledge, skills, and abilities necessary to manage global purchasing and supply chain operations. The program focuses on topics such as global sourcing, procurement strategies, logistics management, supplier relationship management, and risk management.
It typically takes around six months to complete the IPSCMP program. The program consists of four courses: Global Sourcing, Procurement Strategies & Practices, Logistics Management & Risk Mitigation, and Supplier Relationship Management. Each course is self-paced and can be completed at your own convenience.
To obtain the IPSCMP certification you must pass all four courses with a minimum score of 70%. After successfully completing the courses you will receive an official certificate from ISM recognizing your achievement.
The cost of the IPSCMP program varies depending on whether you are an ISM member or non-member. For ISM members it costs $1,495 USD while for non-members it costs $2,195 USD.
7. Certified Green Purchasing Professional (CGPP)
Certified Green Purchasing Professional (CGPP) is a professional certification program designed to recognize individuals who have achieved a high level of knowledge and expertise in the field of green purchasing. The CGPP program was developed by the Association for the Advancement of Sustainability in Higher Education (AASHE) and focuses on helping individuals understand the principles, practices, and strategies associated with green purchasing.
The CGPP certification requires applicants to complete an online course that covers topics such as environmental regulations, sustainable product selection, and green procurement strategies. The course takes approximately 12-15 hours to complete. Once completed, applicants must pass an online exam in order to be certified.
The cost for the CGPP certification is $350 USD for AASHE members or $450 USD for non-members.
8. Certified Public Procurement Officer (CPPO)
A Certified Public Procurement Officer (CPPO) is a certification program offered by the National Institute of Governmental Purchasing (NIGP). It is designed to recognize individuals who have achieved a level of expertise in public procurement. This certification is voluntary and demonstrates an individual’s commitment to professional excellence.
The CPPO program consists of three levels: Associate, Professional, and Executive. The Associate level requires completion of one core course and two elective courses; the Professional level requires completion of two core courses and four electives; and the Executive level requires completion of five core courses and six electives. The core courses cover topics such as legal aspects, purchasing principles, ethics, contracts, negotiations, customer service, and financial management. Elective courses cover additional topics such as sustainability, e-procurement, performance measurement, supply chain management, strategic sourcing, and public works construction.
To become a CPPO you must meet certain eligibility requirements including having at least three years of full-time experience in public procurement or related activities or completing the NIGP Certificate Program for Public Procurement Professionals. You must also pass an examination administered by NIGP.
It typically takes about six months to complete all the requirements for CPPO certification depending on how quickly you can complete the required courses and pass the exam.
The cost for CPPO certification varies depending on which level you are pursuing and whether you are a member of NIGP or not. Generally speaking it costs around $1,500-$2,000 to become certified at any level.
9. Certified Strategic Sourcing Professional (CSSP)
Certified Strategic Sourcing Professional (CSSP) is a certification program offered by the Institute for Supply Management (ISM). It is designed to recognize individuals who have achieved a high level of proficiency in the field of strategic sourcing.
The CSSP program consists of two parts: an online self-study course and an exam. The online course covers topics such as supplier management, cost analysis, negotiation strategies, and contract management. The exam tests knowledge and skills related to these topics.
It typically takes about six months to complete the program, depending on how much time you are able to dedicate to studying. To get started, you must first register for the program with ISM and pay the required fee. Once registered, you will receive access to the online course materials and can begin studying right away.
The cost of the CSSP program varies depending on whether you are an ISM member or non-member. For ISM members, it costs $1,295; for non-members, it costs $1,595.
10. Institute for Supply Management – Accredited Purchasing Practitioner (ISM-APP).
The Institute for Supply Management – Accredited Purchasing Practitioner (ISM-APP) is a certification program that recognizes individuals who have demonstrated the knowledge and skills necessary to be successful in the purchasing profession. The ISM-APP certification is designed to provide professionals with an opportunity to demonstrate their expertise and commitment to excellence in the field of purchasing.
The ISM-APP certification requires applicants to pass both a written exam and an oral interview. The written exam covers topics such as purchasing principles, process improvement, supply chain management, contract law, and ethical practices. The oral interview assesses the applicant’s ability to apply their knowledge in practical situations.
To become certified, applicants must first complete an online application form. Once approved, applicants will receive instructions on how to register for the exams and interviews. Applicants must also pay a fee of $295 USD for each exam taken.
The entire process typically takes about six months from start to finish, although this may vary depending on the individual’s availability and other factors. Upon successful completion of both exams and interviews, applicants will receive their ISM-APP certification which is valid for three years before needing to be renewed.
Do You Really Need a Commodity Buyer Certificate?
The answer to this question depends on the individual and their career goals. A commodity buyer certificate can be beneficial for those looking to pursue a career in purchasing and procurement, as it provides an understanding of the industry, its regulations, and the different types of commodities that are traded. With this knowledge, individuals can better assess supplier quality, negotiate prices, understand market trends, and make more informed decisions when selecting suppliers.
Additionally, having a commodity buyer certificate can be advantageous for those who wish to specialize in a certain type of commodity or sector. For example, if someone wanted to focus on buying agricultural commodities like corn or wheat, they would benefit from having a specialized certificate that focuses on these specific commodities. This type of certification could also provide valuable insight into the nuances of international trade laws and regulations surrounding agricultural commodities.
In conclusion, whether one needs a commodity buyer certificate depends on their individual career goals. If someone is interested in pursuing a career in purchasing or procurement or wants to specialize in a certain type of commodity trading, then obtaining a certificate may be beneficial. However, if this is not the case then it may not be necessary.
Related: Commodity Buyer Resume Examples
FAQs About Commodity Buyer Certifications
1. What is a Commodity Buyer Certification?
Answer: A Commodity Buyer Certification is a professional certification that demonstrates an individual’s expertise in the purchase and sale of commodities. It is designed to provide buyers with the knowledge and skills necessary to successfully navigate the commodities market.
2. How do I become certified as a Commodity Buyer?
Answer: To become certified as a Commodity Buyer, you must pass an exam administered by a recognized certifying body. The exam consists of multiple-choice questions covering topics such as commodity pricing, hedging, futures trading, and risk management.
3. How long does it take to get Commodity Buyer Certification?
Answer: Depending on your level of experience and knowledge, it can take anywhere from six months to two years to complete the process and receive your certification.
4. What are the benefits of having a Commodity Buyer Certification?
Answer: Having a Commodity Buyer Certification can give you an edge over other buyers in the marketplace, as it demonstrates your expertise in the purchase and sale of commodities. It also provides employers with assurance that you have the necessary skills to succeed in this field.
5. What are some common job titles for people with a Commodity Buyer Certification?
Answer: Common job titles for people with a Commodity Buyer Certification include Commodities Trader, Broker/Dealer Representative, Risk Manager, Hedge Fund Analyst, Investment Banker, and Derivatives Trader.