Market Knowledge ? 💫

Market Knowledge ? 💫
In procurement, understanding market dynamics is crucial. This means knowing how markets move, what influences costs, and how to anticipate risks proactively. Without solid market intelligence, we face:

1. Overpaying due to a lack of cost structure visibility
2. Weak supplier negotiations because of missing market data
3. Getting caught off guard by price fluctuations, supply shortages, or economic shifts

Strong market knowledge helps us reduce costs, strengthen supplier strategies, and stay ahead of the competition.

Inside the document, you’ll find inputs on how to gather information on the market and what to look for, specifically:

1. Industry & supplier intelligence: strategies to map suppliers, track trends, and analyze supplier health.

2. Cost structures & pricing trends: understanding cost breakdowns and tracking price movements.

3. Procurement analytics & forecasting: guidance on using data to track trends & predict risks.

4. Market & supply chain risks: techniques for identifying & mitigating potential disruptions.


Feel free to customize this little guide based on your industry, category, and market needs..

I hope it is practical, easy to apply, and adaptable over time….
I welcome your feedback & suggestions for improvement.

Thank you 🙏