Market Analysis

Market analysis enables procurement to understand how the supply market works, the direction in which the market is going, the competitiveness and the key suppliers within the market. The results of this analysis can help the buyer to improve and shape the strategy and tendering process and align their behaviour in order achieve better value for money, reduced prices or an improved service.

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Related concepts

Commercial Awareness

Commercial awareness means understanding the market, identifying opportunities and working with limited resources to create a profit (Wilkinson and Aspinall, 2007).

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Understanding Supply Markets and Competition

Supply market analysis assists procurement planning and on-going management of supply arrangements by identifying structure of the market, behaviours, supply chain,...

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