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2019 Q2 Macroeconomic Update

Featured Article

ProcurementIQ Macroeconomic Update Oct-Dec 2018

Each quarter, ProcurementIQ prepares an update that identifies the most significant recent macroeconomic trends affecting procurement professionals.

This quarter’s update focuses on commodity prices, trade and interest rates.

Latest Articles

Webinar: Modernize and Centralize Your RFP Creation Process

Do you spend too much time writing (and re-writing) RFPs, feel unsure about what exactly to include in them, or wonder how to better collaborate with your team when writing RFPs?

5 Tips to Build Trust in Procurement

5 Tips: Say This, Not That to Build Trust in Procurement

Procurement must find a way to balance their objectives and goals against their end users’ needs, while maintaining trust and credibility in the eyes of the end user. Here are some examples of how you can rephrase common questions to elicit more meaningful stakeholder responses.

Recent Tariffs Highlight Need for Comprehensive Supply Chain Management

If there is one takeaway for the procurement world in the wake of the Trump Administration’s announcement of tariffs on steel and aluminum imports, it’s that supply chain disruptions aren’t a question of if, but rather when?

All Roads Lead to Price Growth: Navigating Rising Trucking Costs

In December of 2017, the electronic logging device (ELD) mandate officially went into effect, ending all efforts to delay the law and the anticipated trucking price hikes that were certain to come with it.

Webinar: 5 Common RFP Mistakes and How to Prevent Them

When your team has put a lot of time and effort into issuing an RFP, it’s frustrating to receive low-quality results. If you’ve been looking to improve your RFPs to get better vendor responses, this free, 30-minute webinar is for you!

The Problem with RFPs

What’s the problem with RFPs? If I pitched that question to you, or any other procurement professional, I’m positive you would come up with a ton of responses.

Stop Making These RFP Mistakes

Writing an RFP? Stop Making These 3 Mistakes!

It is imperative that you write an RFP that clearly communicates your needs. Sometimes, that’s easier said than done, as evidenced by the many pitfalls that procurement professionals encounter when writing an RFP. Let’s look at three mistakes to avoid when writing an RFP.

Nerves of Steel: New Tariffs Could Raise Costs & Upset Trade Agreements

Recently imposed tariffs are expected to affect a multitude of industries in the short term. In the long term, it is the reaction to those tariffs from other countries that poses the largest threat to procurement departments. Procurement professionals should be wary of how purchasing strategies for the products or services they rely on may be affected.

Consequences of Poorly Written RFPs

RFPs Gone Wild: Consequences of Poorly Written RFPs

The evolution of the RFP process, as with many other processes in the procurement field, has proven its value to the procurement function beyond just getting what the company needs. But there are consequences to poorly written RFP - here are the top 5.

The 5 W’s of RFPs

If you’re a procurement professional, chances are you’ve been involved in the creation of an RFP sometime in your career. Whether you love them or hate them, RFPs can be a critical part of the purchasing process. Get back to the basics with a quick refresher.

Stakeholder Engagement: How to Measure & Improve

The topic of stakeholder engagement within procurement is a common one.  This only proves how important building relationships is for procurement professionals. 

How to Solve the Big Data Challenge in Procurement?

There is an important issue within procurement that needs to be addressed. Too many CPOs and purchasing departments are looking at the future of procurement solely through a technological prism and consider technology as the end—when it is merely the means to an end. 

The Next Generation of Procurement: Building Your Team with Millennials

Procurement is a complex field that requires professionals to think responsibly yet inventively about internal structures and external relationships. In order to have strong external relationships with vendors and stakeholders, companies must first prioritize sourcing and retaining quality personnel.

White Paper - Improving Procurement's Internal Credibility: A Guide

Credibility is something we all strive for in our professional lives. We want to be trusted by our peers and have our expertise respected by management. If you feel like your organization doesn’t value your department or your role as much as it should, download this white paper to discover actionable ideas and useful tools to start building your credibility now.

Public Procurement Blockchain

How Public Procurement Can Benefit from Blockchain

News on blockchain and cryptocurrencies has taken over making consumers and businesses wonder how the new technology will impact them. For the business world, blockchain will present many new opportunities. But for public procurement, specifically, it has wide-reaching applications.