https://cporising.com/2014/05/15/skills-for-the-modern-procurement-pro-supply-market-knowledge/?utm_source=rss&utm_medium=rss&utm_campaign=skills-for-the-modern-procurement-pro-supply-market-knowledge Analyst-led research and intelligence for the procurement community. Sat, 13 Jul 2024 01:08:30 +0000 hourly 1 https://cporising.com/2014/05/15/skills-for-the-modern-procurement-pro-supply-market-knowledge/comment-page-1/#comment-458 Sat, 06 Feb 2016 10:48:47 +0000 https://cporising.com/?p=13496#comment-458 […] Supply Market Knowledge concerns a purchasing or sourcing team’s category management, and having a holistic view of commodity prices, supplier financial standing, and supply/supplier risk. It allows you to mitigate legal, reputational, and supply risk, and to ensure that your company is getting the best possible price for the commodity or service out there. Being a “true expert” on specific supply markets (of specific categories) can advance your career and keep you relevant. And if the expertise is relatively scarce, it can enable you to charge a premium. Unfortunately, CPOs rated their teams as only slightly better than average when it comes to supplier market knowledge. Fortunately, though, the wide availability of information available on the commercial internet has made it easy for procurement professionals to develop a basic level of supply market knowledge, much less ensure that suppliers aren’t in the headlines for any dubious, unethical, or illegal activity. […]

]]>