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 | May 2019

Ep 15 Inside Procurement: The Value of Procurement Market Intelligence – Part 2

 

In the first part of this two-part feature, we introduced the topic of market intelligence (MI), specifically talking about what it is and its value. We also discussed the ways businesses can access MI.

In this video, the second part,  we talk extensively about the following two types of external intelligence providers:

  1. Syndicated providers
  2. Custom intelligence

As the procurement function continues to grow as an intelligence contributor to the overall business goals, procurement teams are being asked to do even more with their limited resources and time. Therefore, their need to access robust MI and procurement analytics increases – implying a growth in the role and value of intelligence. 

Watch the video that further discusses the top 10 questions businesses should ask before determining the best source of intelligence for them:

  1. Who will use it?
  2. Knowledge and experience of the stakeholders
  3. How niche are the needs?
  4. Level of depth required
  5. How critical is the problem?
  6. Data integration capability?
  7. Right tools and technology
  8. Leverage analytics to get the right answers?
  9. User-ready or plug and play?
  10. Is it cost effective over time?

Be sure to subscribe to our bi-monthly series for the latest concepts and ideas that influence procurement and supply chain executives. You can also read more about our Procurement and Supply Chain solutions. 

  • Omer Abdullah

    Omer Abdullah is Chief Commercial Officer and Co-founder for The Smart Cube. He works with Procurement and Strategy leaders at global organisations, transforming their teams to become value-driven and insight-led.  Omer has more than 30 years of management consulting and global corporate and industry experience across North America, Europe, and Asia. His prior roles include A.T. Kearney (North America), Warner Lambert (USA), and The Perrier Group (Asia-Pacific). Omer has an MBA from the University of Michigan at Ann Arbor, USA, and a BBA from the University of East Asia.

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