When financial markets are in a crisis and the rest of the economy is starting to slow down, it is good time to get prepared for the purchasing opportunities ahead. The largest prospects for better deals lies within industries that are more cyclical than others i.e. their revenues and profits have larger swings others. The things that consumers and industries cut down on first are the things that either are related to expansion of the business or that can just wait. Examples of such purchasing categories are:
- Construction
- Heavy equipment
- Raw materials
- Other process industry goods
- Marketing
- Temporary labour
- Other professional services
- Travel
So if you are not bound into long term agreements in these categories, it could be worthwhile to have a closer look on them over the next 6 months.
