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About Understanding - Supply - Markets - and - Competition CIPS
This document discusses understanding supply markets and competition, which is important for strategic sourcing. It recommends analyzing the supply market using Porter's five forces framework to understand factors like levels of competition and the power of buyers and suppliers. When researching suppliers, procurement teams should collect spend analysis data, conduct stakeholder interviews to determine forecasted needs, and perform external market research on areas like available capacity and price trends. Understanding supply markets helps procurement develop effective strategies and identify opportunities to improve performance and generate savings.
Detailed Information
| Author: | ['human and right'] |
|---|---|
| Publication Year: | 2021 |
| Pages: | 8 |
| Language: | English |
| Format: | |
| Price: | FREE |
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