Market Intelligence
 
PURCHASING POWER
The prices you pay for products and services to a large extent depends on the size of your spend in these areas and no matter how much you buy there is likely to be someone else buying more than you and therefore paying less.
 
MARKET PRICES
For most organisations who are procuring a large variety of products and services keeping abreast of the going rate for each - (I.e. to keep tabs on overall market pricing and therefore to be able to judge whether you are paying a reasonable price) is a difficult if not impossible task.
 
SUPPLIER IDENTIFICATION
Part of the process for ensuring competitive tendering is to have the ability to readily identify a sufficient number of suppliers who are capable of meeting your requirements. Many companies may only be able to identify three or four for each expense area and this may be insufficient to create the required competitive situation.
 
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