In this chapter we will explore the second stage, insight. We will examine the need for gathering rigorous and detailed market, supplier and organizational data to gain a greater understanding of the category and potential opportunities. We will look at how we can make sense of all the information collected, using a series of strategic analytical tools. Finally we will consider the vital contribution this stage can make to the identification of breakthrough sourcing strategies.
Stage 2, insight, seeks to achieve a number of key objectives:
- Gather data in three key areas. These are data about the:
– marketplace and potential other or new marketplaces;
– suppliers and potential new suppliers; ...