Inside Procurement: The value of market intelligence - Part 1

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IP_Value of Market Intelligence_Part1

In the first part of this two-part feature, we discuss market intelligence (MI) and its benefits, specifically addressing three questions:

  1. What's the value of MI and what should it help you do?
  2. How can you access MI and in what types of formats?
  3. What are the specific questions that business must ask to maximise MI?

With supply chains becoming ever more complex and dynamic, procurement professionals are challenged with getting a lot done at a much faster pace and in a fact-based manner. To develop and implement well-rounded strategies, they need to seek and harness robust MI, which can help them: 

  1. Achieve category management excellence
  2. Reduce and avoid costs
  3. Engage in robust supplier management
  4. Effectively manage commodity and feedstock volatility
  5. Become more credible with stakeholders

Watch the video to learn how MI can be sourced through both internal and external sources. In our next video, we will explore the role of syndicated and custom providers. 

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Omer Abdullah

Omer Abdullah

Omer Abdullah is Co-Founder and Managing Director of The Smart Cube, a global provider of procurement intelligence and analytics, including category excellence, commodity volatility management, supply chain analytics and supplier engagement strategies across sectors including Life Sciences, CPG and Industrials. Omer leads the company's business across The Americas.

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