Top 10 Sourcing Analyst Certifications

Certifications are important for a sourcing analyst in the job market because they demonstrate a level of knowledge and skill that is highly valued by employers. They provide tangible proof of an analyst’s expertise and experience, as well as evidence that they have the required qualifications to perform their role effectively. Certifications can also help to distinguish an individual from other candidates, making them more attractive to potential employers. Furthermore, certifications can help an analyst identify areas of improvement and enhance their professional development.

This article reviews some of the top certifications for Sourcing Analysts and explains how they can help to further a career in this field.

What are Sourcing Analyst Certifications?

Sourcing analyst certification is a professional designation that demonstrates an individual’s knowledge and proficiency in the field of sourcing. It is designed to provide employers with assurance that the certified individual has the skills necessary to be successful in the job. The certification requires candidates to pass an exam that tests their understanding of sourcing concepts, processes, and best practices. It also requires them to demonstrate their proficiency in certain areas, such as negotiation, supplier management, and strategic sourcing.

Having a sourcing analyst certification can help individuals stand out from other job seekers when applying for positions involving procurement or supply chain management. Certified professionals are more likely to be seen as qualified for positions that require advanced knowledge of the industry. Additionally, having this certification may lead to higher salaries and better career growth opportunities as companies tend to reward employees who have demonstrated higher levels of expertise in their respective fields. Finally, having this certification may open up more networking opportunities for individuals looking to further their education or career path within the industry.

Pro Tip: When sourcing analyst certification, be sure to check the accreditation of the institution providing the certification. Accreditation is important as it ensures that the content being taught is up-to-date and relevant to the current industry standards. Additionally, look for certifications that offer hands-on experience or case studies as these will provide a more well-rounded understanding of analytical concepts and best practices.

Related: What does a Sourcing Analyst do?

Top 10 Sourcing Analyst Certifications

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

1. Certified Sourcing Analyst (CSA)

Certified Sourcing Analyst (CSA) is a certification that provides professionals with the skills and knowledge to become an expert in the sourcing process. It is designed to help sourcing professionals identify, analyze, and optimize their sourcing strategies.

The CSA certification program consists of two parts: an online course and an exam. The online course covers topics such as supplier selection, negotiation techniques, cost analysis, risk management, and more. The exam tests your understanding of the material covered in the course.

To get certified as a CSA, you must first complete the online course and then pass the exam with a score of 80% or higher. The online course takes approximately 8-10 hours to complete depending on your level of experience. The exam can be taken at any time after completing the course.

The cost for taking the CSA certification program varies depending on where you take it from but typically ranges from $500-$1000 USD.

2. Certified Professional Sourcing Analyst (CPSA)

Certified Professional Sourcing Analyst (CPSA) is a certification program designed to help professionals demonstrate their knowledge and expertise in the area of sourcing. The program is offered by the Institute for Supply Management (ISM), a leading global association for supply management professionals.

The CPSA certification requires individuals to complete an online course and pass an exam. The course covers topics such as strategic sourcing, supplier selection, negotiation, contract management, and more. It typically takes about 12-16 weeks to complete the course and pass the exam.

In order to get certified as a CPSA, you must first register with ISM and pay the registration fee of $495 USD. After registering, you will receive access to the online course materials and be able to take the exam when you are ready.

Once you have passed the exam, you will be awarded your Certified Professional Sourcing Analyst (CPSA) certification from ISM. This certification is valid for three years, after which time you must renew it in order to maintain your status as a CPSA.

3. Certified Global Sourcing Analyst (CGSA)

Certified Global Sourcing Analyst (CGSA) is a professional certification program designed to recognize and validate the knowledge, skills, and abilities of individuals who work in global sourcing. The CGSA certification is offered by the Global Sourcing Council (GSC), an international organization that promotes best practices in global sourcing.

The CGSA certification program consists of two parts: a comprehensive online assessment and a hands-on project. The online assessment covers topics such as global sourcing strategy, supplier selection and management, contract negotiation, risk management, and sustainability. The hands-on project requires candidates to develop a global sourcing plan for an organization or company.

It takes approximately 2-3 months to complete the CGSA certification program. Candidates must first register with the GSC and pay a fee of $1,500 USD to access the online assessment materials. Once they have completed the online assessment successfully, they can then proceed to the hands-on project stage.

To get certified as a Certified Global Sourcing Analyst (CGSA), candidates must pass both parts of the certification program with a score of 80% or higher on each part. Upon successful completion of both parts, they will be awarded their CGSA certificate from the GSC.

4. Certified Supply Chain Professional (CSCP)

Certified Supply Chain Professional (CSCP) is an internationally recognized certification program offered by the Association for Supply Chain Management (ASCM). It is designed to help supply chain professionals develop and validate their knowledge and skills in the field of supply chain management. The CSCP program provides a comprehensive framework for understanding the end-to-end supply chain, from managing suppliers to delivering customer satisfaction.

The CSCP program consists of three parts: a comprehensive exam, professional development activities, and a portfolio review. The exam covers topics such as global supply chain management, logistics, inventory management, technology, customer service and more. The professional development activities include courses on topics such as operations management, strategic sourcing and procurement, and transportation. Finally, the portfolio review assesses your knowledge and experience in the field of supply chain management.

It typically takes between three to six months to complete all requirements for the CSCP certification. To get certified you must first register with ASCM and then complete an online application form. Once approved you can begin studying for the exam using self-study materials or attend one of ASCM’s training courses. After passing the exam you must submit a portfolio that demonstrates your knowledge and experience in the field of supply chain management.

The cost for registering for the CSCP program is $995 USD plus applicable taxes. There are additional costs associated with taking training courses or purchasing study materials if needed.

5. Certified Purchasing Manager (CPM)

Certified Purchasing Manager (CPM) is a professional certification program designed to recognize and validate the knowledge, skills, and abilities of purchasing professionals. The CPM designation is administered by the Institute for Supply Management (ISM), an organization that provides education, research, and certification programs for supply chain professionals.

It typically takes between six months to a year to complete the CPM program. To become certified as a CPM, you must meet certain requirements such as having at least three years of full-time purchasing experience or five years of part-time purchasing experience. You must also pass an exam that covers topics such as procurement processes, contract management, supplier relationships, and ethical practices in purchasing.

The cost of becoming a CPM varies depending on your country of residence and whether you are a member of ISM or not. In the US, non-members pay $1,395 while members pay $995. Additionally, there may be additional fees such as exam registration fees and study materials costs.

6. Certified Supply Chain Management Professional (CSCMP)

Certified Supply Chain Management Professional (CSCMP) is a certification program offered by the Council of Supply Chain Management Professionals (CSCMP). It is designed to recognize and validate the knowledge and skills of supply chain professionals. The CSCMP certification is a globally recognized professional designation that demonstrates mastery in the field of supply chain management.

The CSCMP certification requires passing an exam, which consists of 150 multiple-choice questions covering topics such as supply chain strategy, logistics and operations, customer service, technology, and global supply chain management. The exam takes approximately three hours to complete.

To become certified, applicants must first meet the eligibility requirements for the CSCMP program. This includes having at least five years of full-time work experience in a related field or having completed an approved master’s degree program in supply chain management or related field within the past five years. Applicants must also have a valid email address and be willing to submit to a background check prior to taking the exam.

Once all eligibility requirements are met, applicants must register for and pass the CSCMP examination with a score of 70% or higher in order to receive their certification. The cost for taking the exam is $495 USD for members of CSCMP and $595 USD for non-members.

7. Certified Procurement and Supply Chain Professional (CPP)

Certified Procurement and Supply Chain Professional (CPP) is a certification program offered by the Institute for Supply Management (ISM). The CPP designation is the highest level of professional recognition for those who have achieved mastery in the field of procurement and supply chain management. The CPP program provides individuals with an opportunity to demonstrate their knowledge, skills, and abilities in this field.

The CPP certification requires at least five years of experience in procurement and supply chain management, as well as successful completion of a comprehensive exam. The exam consists of 200 multiple-choice questions that cover topics such as purchasing strategies, inventory control, logistics management, supplier relationships, negotiation strategies, and legal issues related to the procurement process.

In order to become certified, applicants must first submit an application to ISM. Once approved, applicants must then register for the exam and pay a fee of $595 USD. After passing the exam, applicants will receive their CPP designation within two weeks.

The cost of obtaining the CPP certification varies depending on whether or not you are an ISM member. Non-members must pay a fee of $595 USD while members pay only $395 USD. Additionally, members may be eligible for discounts on study materials and other resources related to the CPP program.

8. Certified Supplier Diversity Professional (CSDP)

Certified Supplier Diversity Professional (CSDP) is a professional certification program designed to recognize individuals who have demonstrated a high level of knowledge and expertise in the area of supplier diversity. The CSDP credential is awarded by the National Minority Supplier Development Council (NMSDC), which is the premier organization for developing and promoting minority business enterprises.

The CSDP certification requires candidates to complete an online application, submit a resume, pass an exam, and attend an in-person training session. Candidates must also demonstrate three years of experience in supplier diversity management or related fields.

The exam consists of 150 multiple choice questions covering topics such as strategic sourcing, supplier diversity programs, supplier selection criteria, contract negotiation, and compliance requirements. To prepare for the exam, NMSDC offers a variety of study materials including practice exams, webinars, and workshops.

The cost to obtain the CSDP certification is $1,500 USD plus applicable taxes. The fee covers the cost of the exam and training session as well as any other associated costs such as travel expenses. The entire process typically takes between two to four months depending on when you apply and when your training session is scheduled.

9. Lean Six Sigma Green Belt Certification

Lean Six Sigma Green Belt Certification is a certification program that provides individuals with the knowledge and skills necessary to effectively lead and manage Lean Six Sigma projects. The program focuses on the application of Lean Six Sigma tools and techniques to improve quality, reduce costs, and increase customer satisfaction.

The Lean Six Sigma Green Belt Certification typically takes 8-10 weeks to complete. It consists of online modules, virtual instructor-led training, and an online exam. The course covers topics such as project management, process improvement, problem solving, data analysis, statistical process control (SPC), design of experiments (DOE), lean principles, and more.

To get your Lean Six Sigma Green Belt Certification you must first complete the required coursework. This can be done through an accredited institution or through a self-study program. Once you have completed the coursework you will need to take an exam in order to receive your certification. The exam is administered by an independent third party organization such as ASQ or IASSC.

The cost for the Lean Six Sigma Green Belt Certification varies depending on where you take the course and which organization is administering the exam. Generally speaking, it can range anywhere from $500-$2,000 USD depending on these factors.

10. Project Management Professional (PMP)

Project Management Professional (PMP) is a certification offered by the Project Management Institute (PMI). It is the most widely recognized and respected project management certification in the world. PMP certifies that an individual has the knowledge and experience to successfully manage projects of any size, complexity, or scope.

To get PMP certified, an individual must meet certain educational and professional experience requirements. The educational requirement includes having a four-year degree or equivalent plus 35 hours of project management education. The professional experience requirement includes 4500 hours of leading and directing projects over the past 8 years.

Once these requirements are met, individuals can apply for the PMP exam. The exam consists of 200 multiple-choice questions covering five major areas of project management: initiating, planning, executing, monitoring & controlling, and closing. The exam takes four hours to complete and costs $405 for members of PMI ($555 for non-members).

The PMP certification is valid for three years from the date it was awarded. To maintain a valid certification status after three years, individuals must earn 60 Professional Development Units (PDUs) during each three-year cycle. PDUs can be earned through attending seminars or conferences related to project management or teaching courses on project management topics.

Do You Really Need a Sourcing Analyst Certificate?

The answer to this question depends on a few factors. First, it is important to consider what type of job you are looking for and what skills you need to be successful in that role. If the job you are interested in requires specific knowledge or skills related to sourcing analytics, then having a sourcing analyst certificate may be beneficial. Additionally, if you want to demonstrate your knowledge and expertise in the field of sourcing analytics, a certificate can give potential employers an indication of your qualifications.

On the other hand, if you already have significant experience or education in the field of sourcing analytics and do not need additional credentials to qualify for a job, then having a certificate may not be necessary. Furthermore, if you are only interested in gaining additional knowledge about the topic but do not plan on working as a sourcing analyst, then there may be more cost-effective ways of gaining this information such as attending seminars or taking courses online.

Ultimately, whether or not you need a sourcing analyst certificate depends on your individual goals and ambitions. If having this certification can help you reach those goals faster and more effectively than without it, then it could be an advantageous investment.

Related: Sourcing Analyst Resume Examples

FAQs About Sourcing Analyst Certifications

Q1. What is a Sourcing Analyst Certification?

A1. A Sourcing Analyst Certification is a program of study that provides professionals with the skills and knowledge needed to effectively evaluate, select, and manage suppliers. It focuses on key areas such as supplier selection criteria, negotiation strategies, contract management, and cost analysis.

Q2. What types of certifications are available?

A2. There are various certifications available for sourcing analysts including Certified Professional in Supply Management (CPSM), Certified Supply Chain Professional (CSCP), and Certified Purchasing Manager (CPM). Additionally, some universities offer specialized programs focusing on supply chain management or procurement management.

Q3. How long does it take to get certified?

A3. The length of time required to obtain a certification depends upon the type of certification chosen and the amount of time spent studying for the exam or coursework involved in obtaining the certification. Generally speaking, certification exams can take up to six months to complete depending on how much time you dedicate to studying for it.

Q4. How much do Sourcing Analysts make?

A4. According to PayScale, the average salary for a sourcing analyst is around $60k per year with salaries ranging from $40k-$80k depending on experience level and location within the US.

Q5. What skills do I need to become a successful Sourcing Analyst?

A5: To be successful in this field one must have strong analytical skills, be knowledgeable about industry trends and regulations, possess excellent communication and interpersonal skills, have an understanding of contract law and negotiation techniques, be organized and detail-oriented as well as possess a working knowledge of software programs related to supply chain management such as ERP systems or Excel spreadsheets.