Take advantage of IBISWorld Procurement Research Reports

Systemwide Sourcing is excited to announce a new online tool offered by IBISWorld, the nation’s largest provider of industry and procurement research, now available to procurement staff at all UC locations.

With UC’s membership, campuses have unlimited access to 1,000+ reports on a wide variety of products and services. The reports offer a deep-dive into a given category showing market trends, providing benchmark data and identifying major players to help Procurement staff make informed buying decisions.

So how does it work? Each report provides a Buyer Power Score on a scale of 1-5, factoring in price trend, market structure and market risk. The higher the score, the greater leverage the Procurement professional has to get lower prices and better contract terms. The reports guide Procurement professionals through the seven stages of a purchase starting with opportunity assessment. This first step helps to compare market characteristics to the organization’s needs so we can develop better business requirements in our Requests for Information (RFI). Market trends and forecasts help us evaluate the market, and vendor statistics (e.g. financial health, profitability and risk) to assist during negotiation. The reports even recommend elements to include in an RFP, questions to ask during negotiation, and key criteria and weights to use when making a decision.

Our IBISWorld membership provides us additional assistance through a dedicated Client Relationship Manager, Madeleine Gaff.  As part of the roll-out, Maddie has been visiting each campus to show procurement teams how to benefit from using the resource.

Procurement Professionals across the system are already raving about the tool, so don’t miss out! Log in and browse around to get familiar with the reports at https://www.ibisworld.com/about/login/.

For questions, contact your manager or reach out to Maddie at 424-259- 4721 or madeleine.gaff@ibisworld.com.

Valerie Vergara
Commodity Manager, Life Sciences, Strategic Sourcing Centers of Excellence