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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

Amazon Business: A New Way to Procure

Our analysts took a look at the Amazon Business platform to see how the ecommerce behemoth is attempting to make it easier for businesses to purchase products from one another to correct some of the current inefficiencies within the B2B procurement space.

Game Theory Negotiations: Are You Striving for the Win or the Win-Win?

How strategic do you get during negotiations? For some organizations, saving money is their ultimate priority, so they may go in just wanting the lowest price the vendor can offer.

Grow Your Network with Our Top Procurement Influencers

Looking to grow your network and learn from the movers and shakers in the procurement arena? You can gain a lot by following and connecting with professionals who have a wide variety of experience, roles, responsibilities and activities.

The Future is Here: Blockchain, Smart Contracts & Procurement

If you are a procurement professional, you rely on making decisions quickly. The quality of your decisions is based on the quality of your data. Learn more about how smart contracts and blockchain come into play.

Characteristics of a Successful Procurement Professional

What characteristics do you think a successful purchasing professional should have? First determine if your department is expected be to clerical or strategic. From there, you can decide which characteristics will bring your department and organization the most success.

Consolidate suppliers to reduce costs

How to Consolidate Suppliers and Reduce Costs

Successful purchasing relies on effective suppliers. With ongoing evaluation of your supply base and replacing average vendors with better ones, you’ll improve the process and benefit from increased efficiencies.

Blockchain: The 2018 Disruptor of the Year

For Bitcoin, 2017 was an extraordinary year as it documented the cryptocurrency’s stratospheric rise and unprecedented entry into mainstream dialog. Regardless of which side of the bubble debate you are on, the implications that blockchain technology may have on many industries are impossible to ignore.

Honey, I Shrunk My Supplier Base! Cut Costs with Vendor Consolidation

Having to manage numerous vendors is not only time-consuming, but too many can reduce your department’s effectiveness and ability to nurture key relationships.

Finding the Hidden Talent on Your Procurement Team

A great procurement manager should focus on identifying and capitalizing on the untapped talent on the team. By doing so, these hidden talents can catapult your team into a strategic powerhouse. Take a look at your team and see if you can identify these three types of personalities.

Supplier Diversity: What’s In It For You?

Procurement departments have thrown around the term ‘supplier diversity’ for years now. While companies contracting with the Federal government must have a supplier diversity mandate, procurement professionals outside of the government realm are coming to realize the significant benefits of supplier diversity.

Contract Renewal: Is this Price Increase Justified?

Your product or service renewal is approaching and the supplier has just notified you that your annual rate will increase. How do you determine whether or not the price bump is justified?

If You’re Still Using Google for Category Research, You’re Doing It Wrong

Google will provide you with a ton of information within seconds. But, how do you know that information is accurate, unbiased and up-to-date? And more importantly, can you quickly find the category-specific information you need? If Google is your source for research, we’re here to tell you – you’re doing it wrong!

Proving Procurements Worth

Beyond Cost-Savings: Proving Procurement’s Worth

In today’s business environment, it’s critical that every department proves its value. For procurement leaders, this often involves cost avoidance and key performance indicators (KPIs) – all effective measures for communicating to Finance. However, procurement departments offer so much more than this, and yet, these messages often aren’t conveyed to the rest of the business.

Using Market Intelligence to Achieve Procurement Goals

Procurement departments these days are harnessing market intelligence (MI) as one of the most efficient tools to develop and support strategic sourcing decisions. Gaining access to third-party category research will help sourcing staff make informed decisions and achieve goals.

White Paper - The Journey to Strategic Sourcing

In today’s competitive business environment, procurement departments are being challenged to do more with less and find creative ways to cut costs, mitigate risk, improve the quality of contracts and serve internal customers faster