Although it was aimed at consumers, Comcast featured a slideshow on their site entitled “8 Things You’ll Be Paying More For Soon” that contained some concepts applicable to corporate procurement as well. For example, though most of you may not be placing purchase orders for basketball tickets, categories like airline travel, health insurance, and cotton products (e.g., uniforms) are certainly within the jurisdiction of corporate procurement teams.
But moreso than knowing price predictions for specific categories, the slideshow includes the type of insights into the cost driving factors for these categories that procurement professionals should consider for the goods and services that they buy. These factors include:
- Impact of weather on supply/demand/cost
- Impact of politics on supply/demand/cost
- Direction of key indices, such as the PPI
- Impact of market trading in addition to the fundamentals
- Changes in inventory levels in the supply chain
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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