How do you measure and report the value and impact of supply market analysis?

Absolutely, while metrics like cost savings and supplier performance are key, understanding how market analysis informs strategic decisions and improves collaboration can truly showcase its impact on the organization's growth and agility.

First of all, there are many subcomponents in any SMA (Supply Market Analysis). The following things have worked for me in the past 1) Supplier Research: Usually, for IT-related products (Saas Platforms, etc), Gartner/Forrester has been the top tool, but they are losing their value quickly for being too generic. Interestingly, community reviews have been extremely insightful for me. 2) Price benchmarking: Tons of information is available for IT and consumer hardware. I use Amazon/Alibaba B2B to get benchmarks.

1) Quantifiable Metrics: Measure cost savings, supplier performance improvements, and risk mitigation achieved through market analysis. 2) Benchmarking Results: Compare current procurement outcomes with historical data or industry benchmarks for a comprehensive evaluation. 3) Stakeholder Feedback: Incorporate feedback from internal stakeholders to gauge the practical impact on operations and strategic goals. 4) Regular Reporting: Provide concise and regular reports, highlighting key insights and demonstrating the tangible value derived from the supply market analysis.

A medi??o e relato do valor da análise de mercado de suprimentos envolvem avalia??o de economias identificadas, eficiência operacional, mitiga??o de riscos, qualidade e confiabilidade do fornecedor, inova??o na cadeia de suprimentos e satisfa??o do cliente. Adicionalmente, a compara??o com benchmarks do setor, a análise de custos, a inteligência competitiva e a eficiência na tomada de decis?o s?o métricas relevantes. Ao comunicar esses indicadores, é crucial vincular os resultados às metas organizacionais e utilizar casos de estudo e gráficos para refor?ar a narrativa sobre os benefícios obtidos.

In my experience, Quantify the impact of your supply market analysis to showcase its value. Track cost savings identified through optimized sourcing strategies. Measure risk mitigation by monitoring reduced instances of supplier disruptions or price volatility. Demonstrate efficiency gains through faster sourcing cycles or streamlined processes. Don't forget the qualitative impact! Highlight improved supplier relationships or enhanced decision-making based on market insights. Present these metrics in clear reports or dashboards, comparing pre-analysis performance to post-analysis results. This data-driven approach effectively communicates the value of supply market analysis in driving procurement success.

I would suggest using the knowledge wheel here which will make life simpler for the relevant data. Data falls into 3 categories 1. I know what I know 2. I know what i dont know 3. I dont know what i dont know. SMA is to close the size of section 3 and move more elements into section 2 or 1. You will know hen you have enough data if the hypothesis of what you are researching has either been proved or disproved.

Firstly agree the process for sharing information and then go through that process to define when you have hit the target. Each stakeholder needs a different style of communication to suit their style of receiving information. Firsty they can be auditory, kinesthetic or visual. Each may need a diferernt style of information i.e. dont send a report to a kinesthetic learner. Secondly do you want to communicate agressively, passively or assertively as the launguage you use will change for each. Finally ensure that you understand that most communication from one person to another is through body, tone and action not just reports. So decide what information is relevant to each stakeholder and communicate that information in style that works

In this respect, I think it is more important to have this kind of communication with stakeholders such as end users in Procurement because the services or goods needed are related to their field and therefore it is of great importance that effective connections are made by end users during such purchases. So it would be better to get their feedback for all the purchases.

Reports showing the overall savings achieved, risk assessment and mitigation, strategic decisions and supplier relationship could help in measuring this impact.

Assessment of the Information Technology Market in order to to optimize costs and improve innovation. Process: 2 meetings, First present to all stakeholders information found and identify gaps. Second to epresent to all stakeholder and ensure gaps are closed. Evaluate the technological capabilities and innovation potential of IT suppliers. Analyze the total cost of ownership for IT solutions from different suppliers. Stay abreast of emerging technologies and market trends to anticipate future Explore collaborative opportunities with IT suppliers for joint innovation projects.

Supply market analysis is a method used to measure and report the value and impact of a supply chain. It aims to identify cost-saving opportunities by comparing suppliers and market trends. It also evaluates supplier performance, focusing on metrics like on-time delivery and product quality. It helps in identifying and mitigating risks in the supply chain, such as supplier stability and financial health. The analysis provides valuable insights into market trends, competitor strategies, and emerging technologies, aiding in informed decisions and gaining a competitive advantage. Stakeholder feedback can also be used to measure the analysis's effectiveness.