Market Analysis
Market Analysis is the capability to assess and interpret market forces, trends and supplier dynamics related to procurement. This involves understanding of market behavior, competitor strategies and cost structures to increase purchasing effectiveness. An adept market analysis informs procurement strategies, maximizes competitive advantage and drives cost reductions.
Level 1: Emerging
At a foundational level you are learning how to gather basic information about suppliers, market trends, and pricing that affect procurement decisions. You rely on guidance to interpret market data and may use simple tools to support your analysis. Your developing understanding helps you contribute to informed purchasing choices and builds your confidence in market analysis.
Level 2: Proficient
At a developing level you are beginning to collect and interpret basic market data to support procurement decisions. You seek guidance to understand supplier dynamics, pricing trends and competitor activity within your category. Your market analysis helps you make more informed recommendations and start identifying opportunities to improve value for your organization.
Level 3: Advanced
At a proficient level you are able to gather and analyze a range of market data to inform procurement decisions and identify emerging risks or opportunities. You consider supplier dynamics, competitor actions and market trends when developing sourcing strategies. Your insights help your team secure better value and adapt to changing conditions in the market.
