Top 11 Procurement Analyst Certifications

Certifications are important for a procurement analyst in the job market as they demonstrate an individual’s knowledge and expertise in a particular area. They show employers that the individual has taken the time to learn and understand the concepts, processes, and procedures associated with procurement analysis. Certifications also provide assurance to employers that the individual is up-to-date on industry trends, best practices, and regulations. In addition, certifications can help a procurement analyst stand out from other applicants who may not have them. Finally, certifications can open up new doors of opportunity for career advancement.

The purpose of this article is to review the top certifications for Procurement Analysts and explain how they can help to advance a Procurement Analyst's career.

What are Procurement Analyst Certifications?

Procurement analyst certification is a formal program that provides individuals with the skills and knowledge necessary to become proficient in the field of procurement. It is designed to help professionals develop and demonstrate their expertise in areas such as strategic sourcing, contract management, supplier management, cost savings analysis, and more. This certification can help procurement analysts gain recognition from employers and potential employers that they have the knowledge and experience necessary to be successful in this field. Additionally, it may provide them with an edge over other applicants when competing for roles within the procurement sector. This certification can also give professionals a better understanding of best practices in the industry and potentially increase their career opportunities within the sector.

Pro Tip: When seeking procurement analyst certification, research the requirements for each program and make sure that you can fulfill them before signing up for the certification. Additionally, look into any continuing education requirements once you have received your certification to ensure that your credentials remain valid.

Related: What does a Procurement Analyst do?

Top 11 Procurement Analyst Certifications

Here’s our list of the best certifications available to Procurement Analysts today.

1. 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 proficiency in supply management and demonstrate a commitment to continuing education.

To become certified, candidates must meet certain educational and experience requirements and pass three comprehensive exams. The exams cover topics such as supply chain management, sourcing and procurement, inventory management, contract law, logistics and transportation, and strategic sourcing.

Candidates must complete all three exams within five years of starting the program. Each exam takes about four hours to complete. The cost of the program varies depending on the number of exams taken but typically ranges from $1,500 to $2,000.

In addition to passing the exams, candidates must also complete 60 hours of continuing education credits every three years to maintain their certification status.

2. Certified Purchasing Manager (CPM)

Certified Purchasing Manager (CPM) is a certification program designed to recognize professionals who have achieved a high level of expertise in the field of purchasing and supply chain management. The CPM credential is awarded by the Institute for Supply Management (ISM).

The CPM certification program consists of three parts: an online application, a comprehensive exam, and professional experience. To be eligible for the CPM credential, applicants must have at least five years of professional purchasing and supply chain management experience. Additionally, applicants must pass an extensive four-hour exam that covers topics such as procurement processes, financial analysis, contract law, and risk management.

The cost of the CPM certification program varies depending on whether or not you are an ISM member. For non-members, the cost is $695 USD; for members, it is $495 USD.

It typically takes 6-8 weeks to complete the entire process once your application has been approved.

3. Certified Public Procurement Officer (CPPO)

A Certified Public Procurement Officer (CPPO) is a professional designation that recognizes an individual's expertise in public procurement. The CPPO designation is awarded by the Universal Public Procurement Certification Council (UPPCC), which is recognized by the National Institute of Governmental Purchasing (NIGP).

To become a CPPO, you must have at least three years of full-time public procurement experience, as well as a bachelor’s degree or equivalent. You must also pass an exam administered by the UPPCC. The exam consists of 200 multiple-choice questions and takes approximately four hours to complete.

The cost for the CPPO exam varies depending on your location and whether you are taking it online or in person. Generally, the cost ranges from $400 to $600 USD. Once you have passed the exam, you will be required to pay an annual fee of $100 USD in order to maintain your certification.

In addition to passing the exam, you must also adhere to a code of ethics and complete continuing education requirements every two years in order to remain certified as a CPPO.

4. Certified Professional Contract Manager (CPCM)

Certified Professional Contract Manager (CPCM) is a professional certification program offered by the National Contract Management Association (NCMA). The CPCM certification recognizes individuals who have demonstrated expertise in contract management and provides them with an opportunity to demonstrate their knowledge and skills.

The CPCM program consists of two parts: a written exam and a practical application. The written exam tests the candidate's knowledge of contract management principles, practices, and regulations. The practical application requires candidates to demonstrate their ability to apply the principles they learned in the written exam to real-world scenarios.

It typically takes between 6-12 months to complete the CPCM program depending on how much time you are able to dedicate to studying for the exams and completing the practical application.

To get started, you must first become an NCMA member and then register for the CPCM program. Once registered, you will receive access to study materials that can help you prepare for both parts of the certification process. You will also be assigned an NCMA mentor who can provide guidance throughout your studies and answer any questions you may have about the program.

The cost of becoming certified depends on whether or not you are an NCMA member when registering for the program. For non-members, it costs $1,195 for both parts of the program; however, if you are an NCMA member when registering, it costs $995 for both parts of the program.

5. Certified Supply Chain Professional (CSCP)

Certified Supply Chain Professional (CSCP) is an international certification offered by the American Production and Inventory Control Society (APICS). It is designed to recognize professionals who have demonstrated a comprehensive knowledge of supply chain management best practices. The CSCP program provides a comprehensive framework for understanding and managing global supply chain activities, from strategy through execution.

It takes approximately three months to complete the CSCP program. To get certified, you must first pass a three-hour exam that covers topics such as supply chain design, planning, implementation, operations, performance measurement and improvement. You must also complete an approved course in supply chain management or demonstrate equivalent experience.

The cost of the CSCP certification varies depending on the country in which you are taking the exam. In the United States, it costs $795 for APICS members and $995 for non-members. In other countries, fees may vary based on local currency exchange rates.

6. American Purchasing Society's Certified Professional Purchasing Manager (CPPM)

The Certified Professional Purchasing Manager (CPPM) is a professional certification offered by the American Purchasing Society (APS). This certification is designed to recognize purchasing professionals who have achieved a high level of knowledge and expertise in the field. The CPPM credential signifies that an individual has attained a comprehensive understanding of purchasing principles, practices, and processes.

To obtain the CPPM certification, individuals must first meet certain eligibility requirements. These include having at least five years of full-time purchasing experience or three years of full-time purchasing experience plus a college degree in business or related field. Once these eligibility requirements are met, applicants must pass an exam developed by APS to demonstrate their knowledge and skills in purchasing management.

The exam consists of 200 multiple-choice questions covering topics such as procurement law, contract management, supplier relations, cost analysis, inventory control, and ethical standards. The exam takes approximately four hours to complete and can be taken at any APS testing center.

The cost for taking the CPPM exam is $495 for members of APS and $595 for non-members. Additionally, there is an annual renewal fee of $50 for those who maintain their certification status.

7. Institute for Supply Management's Certified Professional in Supplier Diversity (CPSD)

The Certified Professional in Supplier Diversity (CPSD) is a professional certification program developed by the Institute for Supply Management (ISM). The CPSD program is designed to provide individuals with the knowledge and skills necessary to effectively manage supplier diversity initiatives. It is intended to help organizations develop and implement successful supplier diversity programs that create value for their organization, suppliers, and customers.

To become certified, individuals must pass an exam that covers topics such as understanding supplier diversity principles and strategies, developing a supplier diversity program, managing supplier relationships, and measuring performance. The exam consists of 150 multiple-choice questions and takes approximately three hours to complete.

In order to take the CPSD exam, individuals must submit a completed application form along with proof of completion of ISM’s Supplier Diversity Professional Development Program or another approved course of study. The application fee for the exam is $400 USD for ISM members and $500 USD for non-members.

Once an individual has passed the exam, they will receive their official CPSD designation from ISM. This designation indicates that they have demonstrated mastery of the knowledge required to effectively manage supplier diversity initiatives.

8. International Association of Commercial and Contract Management's Certified Commercial Contract Manager (CCCM)

The Certified Commercial Contract Manager (CCCM) is a professional designation offered by the International Association of Commercial and Contract Management (IACCM). It is designed to recognize professionals who demonstrate a high level of knowledge, skill, and experience in the field of commercial contract management.

To become certified, applicants must have at least three years of relevant experience in contract management or related fields. They must also pass an exam that covers topics such as legal principles, negotiation strategies, risk management, and dispute resolution. The exam consists of 150 multiple-choice questions and takes approximately four hours to complete.

In order to take the CCCM exam, applicants must first submit an application form and pay a fee of $400 USD. Once accepted into the program, they will receive access to study materials and resources from IACCM. After passing the exam, they will be awarded the CCCM designation.

The CCCM certification is valid for three years before it needs to be renewed. Renewal requires completion of continuing education credits as well as payment of an annual fee.

9. Chartered Institute of Procurement and Supply's Chartered Institute of Procurement & Supply Qualification (CIPSQ)

The Chartered Institute of Procurement & Supply Qualification (CIPSQ) is a professional qualification offered by the Chartered Institute of Procurement & Supply (CIPS). It is designed to provide professionals working in procurement and supply chain management with the skills, knowledge, and qualifications necessary to excel in their field.

The CIPSQ consists of three levels: Foundation Level, Professional Level, and Advanced Level. Each level has its own set of modules that must be completed in order to gain the qualification. The Foundation Level covers topics such as procurement principles and practices, contract law and negotiation techniques, while the Professional Level covers more advanced topics such as supplier relationship management, project management and risk management. The Advanced Level focuses on strategic procurement and supply chain management.

It typically takes between 12-18 months to complete all three levels of the CIPSQ depending on how quickly you are able to complete the modules. To get started on the CIPSQ you will need to register with CIPS online or contact them directly for further information about registration fees and course materials.

The cost of taking the CIPSQ varies depending on which level you are studying for but typically ranges from £2,000-£5,000 for each level including study materials.

10. National Contract Management Association’s Certified Federal Contracts Manager (CFCM)

The Certified Federal Contracts Manager (CFCM) is a professional certification offered by the National Contract Management Association (NCMA). This certification is designed to recognize individuals who have demonstrated a mastery of federal contracting principles and practices. The CFCM provides an opportunity for federal contract professionals to demonstrate their knowledge and expertise in the field.

To obtain the CFCM, applicants must first meet NCMA’s eligibility requirements, which include having at least three years of full-time or equivalent experience in federal contracting, as well as a bachelor’s degree or higher from an accredited college or university. After meeting these requirements, applicants must then pass a comprehensive exam that covers topics such as acquisition planning, contract formation and administration, source selection procedures, cost/price analysis, and dispute resolution.

The exam takes approximately four hours to complete and consists of 150 multiple choice questions. It is administered online through NCMA’s testing center. The cost of the exam is $450 for members of NCMA and $550 for non-members. Once applicants have passed the exam, they will receive their CFCM designation within two weeks.

The CFCM designation is valid for five years after which time recertification will be required. To maintain the certification, individuals must obtain 40 continuing education credits every five years by participating in activities such as attending conferences or workshops related to federal contracting principles and practices.

11. Strategic Sourceror’s Strategic Sourcing Certification Program

The Strategic Sourceror’s Strategic Sourcing Certification Program is a comprehensive online program designed to provide individuals with the knowledge and skills necessary to become an effective strategic sourcing professional. The program includes interactive courses, assessments, and quizzes that cover topics such as supplier selection, negotiation, contracting, and cost savings. The program also provides access to industry experts who can provide guidance on best practices in the field.

The certification program takes approximately 8-10 weeks to complete and consists of four modules: Introduction to Strategic Sourcing; Supplier Selection; Negotiation; and Contracting & Cost Savings. Each module includes interactive video tutorials, case studies, and assessments that must be completed in order to receive certification.

In order to get certified through the Strategic Sourceror’s Strategic Sourcing Certification Program, individuals must have at least two years of experience in procurement or strategic sourcing. Additionally, applicants must submit a resume and complete an online application form before being accepted into the program.

The cost of the certification program is $999 USD for full access to all four modules.

Do You Really Need a Procurement Analyst Certificate?

The answer to this question depends on a few factors. If you are looking to enter the field of procurement and want to gain a competitive edge, then yes, a procurement analyst certificate can be beneficial. It can help demonstrate your knowledge of the industry and show potential employers that you have an understanding of the complexities involved in the procurement process.

Having a certificate also shows that you have taken the time to learn about the profession and have dedicated yourself to mastering the skills necessary for success in this field. Companies often look for candidates with certifications when hiring new staff, as it proves that they are serious about their career and committed to staying up-to-date on best practices in their field.

In addition, many organizations offer certification programs specifically designed for procurement analysts. These programs provide specialized training that teaches you how to analyze data, identify trends and make informed decisions regarding purchasing decisions. This type of advanced training can give you an edge over other applicants who may not have taken the time or effort to become certified.

Ultimately, whether or not you need a procurement analyst certificate is up to you. It may provide some additional benefits, but it is ultimately up to each individual’s personal goals and objectives when deciding whether or not this type of certification is right for them.

Related: Procurement Analyst Resume Examples

FAQs About Procurement Analyst Certifications

1. What are the requirements for becoming a Procurement Analyst?

Answer: Most employers require a bachelor's degree in business, accounting, economics, finance or a related field. Additionally, some organizations may require certification or specialized training in procurement techniques and analytics.

2. How long does it take to become certified as a Procurement Analyst?

Answer: The length of time it takes to become certified as a Procurement Analyst varies depending on the certification program you choose. Generally speaking, most programs require at least 12-18 months of study and practice to complete the necessary coursework and exams.

3. What is included in a Procurement Analyst Certification?

Answer: A typical certification program will include courses in supply chain management, procurement processes and procedures, cost analysis, contract negotiation and management, data analysis and more. Some programs may also include additional topics such as international trade law or sustainability practices.

4. What types of jobs can I get with a Procurement Analyst Certification?

Answer: With your certification, you will be qualified for jobs such as Purchasing Manager, Supply Chain Manager, Cost Analyst or Contract Negotiator. Depending on your experience level and the specific organization you apply to, other roles such as Director of Strategic Sourcing or Global Sourcing Manager may also be available to you.

5. How much can I expect to earn with a Procurement Analyst Certification?

Answer: The salary range for Procurement Analysts varies widely depending on experience level and geographic location; however generally speaking salaries typically start around $50K per year with experienced professionals earning up to $120K annually for executive roles in large organizations.