Find answers, ask experts and talk with the procurement community


Do you want to deliver savings faster, reduce risks and transform functional performance?

Industry-leading events

Inspirational thinkers and innovators share their vision, providing unique opportunities to network and share best practice

Upcoming events

12th Annual Europe Forum

Executive Briefing: 4 October, 2017

Forum: 5-6 October, 2017

Beurs van Berlage, Amsterdam

Join the annual procurement community gathering for EU procurement professionals centred on business alignment and category leadership.

7th Annual Asia Pacific Forum

Forum: 8-9 November, 2017

The Westin, Singapore

Join 150+ senior level procurement professionals from the Asia Pacific region to delve into topics ranging from the effects of geopolitical change on procurement through to transformation success measurements, and future-proof your procurement function and business.


My Profile

Market Intelligence: Who does procurement trust?

Supplier relationship managementMarketing

If you think your procurement team can get away without market intelligence, think again.


The PIU’s latest survey, CPO 2012, which interviewed 250 respondents across sectors and from around the globe, made an interesting revelation: all procurement staff, regardless of role, dedicate time to market intelligence and perhaps even more of a surprise was the finding that CPOs, category managers, buyers and analysts all alike tend to spend up to a quarter of their time on the gathering of market intelligence.


The benefits of gathering information from the supply side are numerous. They range from understanding your suppliers better, helping to prepare for contract negotiations, developing category strategies, to spotting the types of solutions that are being offered. Ultimately, having access to good quality and relevant market intelligence gives us the confidence in running an efficient procurement organisation.


But how do we ensure that we go to those sources that will maximise our knowledge on the market, and to add, that they are trustworthy enough? The most popular source for market intelligence seems to be suppliers, indicated by a staggering 92% of survey respondents. Some 80% rely on low-cost sources such as the internet and newspapers, but 60% still use costly management consultancies to provide market information. It is further noteworthy that a fifth of respondents (20%) actively use newer information channels, namely social media, to get to the information they need.


The fact that we first and foremost tap into our suppliers for market knowledge is reassuring, as it suggests that we collaborate with our suppliers and trust them on information that will help us our organisations. However, supplier intelligence does not come without bias. To get a true picture of the market, we need to need to add an extra layer to the market intelligence we gather, and by that I mean cross-referencing our sources and ultimately, painting a picture of our own.

Maggie Slowik
Posted by Maggie Slowik