My attention was drawn to an article on dealnews.com entitled \u201c20 Things That Will Be More Expensive in 2011.\u201d Now, I fully expected the article to be written for consumers, but I thought I may also find some tidbits that would be revealing for the corporate purchaser as well. And I believe I did.<\/p>\n
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Here are three categories mentioned in the article that a corporate purchaser should keep an eye on in 2011:<\/p>\n
Insurances:<\/strong> The article mentions both car insurance and health insurance as two items that are expected to go up in price. Now, many purchasing departments do not handle insurance purchases. But the question is: should they? With prices on the rise, companies may need more spend management firepower to protect themselves from expense increases in \u201cnon-traditional categories.\u201d In other words, it may be time to execute Stage 3 of the Strategic Sourcing Plan of Attack.<\/p>\n Utilities:<\/strong> VOIP services and water rates were among the categories cited by the article. Again, these are categories outside of the traditional procurement domain but as pointed out in an earlier post on this blog entitled \u201cWhitepaper Wednesday \u2013 Energy Buying,\u201d utilities may be ripe for a purchasing department\u2019s involvement.<\/p>\n Commodities:<\/strong> The article mentions consumer commodities such as chocolate, coffee, and gold as those likely to go up in price, but you better believe that commodities more commonly purchased by business will be facing upward price pressure as well. The article does touch on the cost-driver effect a bit when discussing ammunition, saying \u201cAmmo prices\u2026will rise again in 2011, all because the metals they\u2019re made of are going up in price.\u201d<\/p>\n So what categories are you expecting to go up in price in 2011?<\/p>\n And what do you plan to do about it?<\/p>\n","protected":false},"excerpt":{"rendered":" My attention was drawn to an article on dealnews.com entitled […]<\/p>\n","protected":false},"author":12,"featured_media":4055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"\n