As demand for warehousing services has risen, demand for additional staff has grown as well, thereby inflating average wages. Growth in labor costs has contributed to expanding operating costs for suppliers.
Case Study: RFP Builder
Read a real-world success story about ProcurementIQ's RFP Builder
Letter & Parcel Delivery Services
Increases in total trade value and the number of businesses have led to a rise in domestic and international shipping volumes, particularly by businesses.
Local Freight Trucking Services
Trends in consumer spending determine demand for market services from wholesalers and retailers, which together account for about one-third of carriers’ sales. Moderate growth in consumer spending has contributed to demand growth for local trucking services.
National Trucking Services
Rising demand for cargo transportation services, including truck transportation, has been the primary driver of increasing market prices. Total trade value has grown significantly, indicating that more goods need to be transported to and from major ports and hubs and boosting demand for carriers’ services.
Third-Party Logistics Services
Growth in the total trade value and industrial production index indicates strong economic growth, which has translated into improving sales in a wide range of markets. In turn, growing businesses have turned to 3PL suppliers to help them scale their operations quickly, which has led to strong sales in the 3PL market.
Corporate Travel Services
The number of both domestic and international trips by US residents have climbed during the past three years, boosting demand for travel services, including that from business buyers.
Domestic Air Travel
Low-cost carriers, which tend to strip flights of amenities in order to offer the lowest possible prices, have been encroaching on the market share of the major legacy airlines, forcing them to price match on many air travel routes.
Fleet Management Services
Many new businesses need fleet vehicles to perform their daily operations, such as visiting clients and delivering goods. As the number of businesses has risen, demand for fleet management services to help buyers manage their fleets in a cost-effective manner has increased.
Fleet Vehicle Leasing
Growth in total trade value indicates that more leased trucks have been required to transport goods. Investment by local and state governments, which are key buyers of fleet vehicle leasing services, has also contributed marginally to demand increases.
Rising demand stemming from increases in domestic trips by US residents and inbound trips by non-US residents has driven price growth. Consumers taking trips often stay in hotel rooms while they are away. Therefore, more trips push up demand for hotel rooms.
Webinar: Tariffs, Trade Wars Supply Chains: How Can Procurement Prepare?
Do you fully understand how tariffs and perceived trade wars will affect your supply chain and your bottom line? Join business analysts from ProcurementIQ as we discuss key takeaways and highlight several strategies buyers can take to minimize the financial impact of the recent tariffs
Webinar: How Procurement Can Add Value through Market Intelligence
Join us as ProcurementIQ SVP Lyle Dixon-Smith talks about how procurement departments can leverage market intelligence to provide value to internal stakeholders and business units.
Case Study - Rensselaer Polytechnic Institute
With ProcurementIQ Procurement Research at its fingertips, Rensselaer Polytechnic Institute’s sourcing team will be able to save time, comply with guidelines and positively impact the Institute’s resources by saving money.
ProcurementIQ Macroeconomic Update July-Sept 2018
Each quarter, ProcurementIQ prepares an update that identifies the most significant recent macroeconomic trends affecting procurement professionals. ProcurementIQ's updates are intended to help these professionals better understand the broader purchasing environment and make strategic buying decisions. This quarter’s update focuses on commodity prices and tariffs, which are issues that are expected to substantially impact business purchases in the coming months.
Webinar: Retail Isn’t Dying and Neither is Procurement!
Contrary to popular belief, retail isn’t dying - it’s evolving - and so is procurement’s role in the industry. Join ProcurementIQ as we look at challenges in the retail space and 3 key strategies to address them. As part of those strategies, we’ll discuss where procurement can step in to support multiple departments as retailers evolve to meet consumers’ demands and expectations.