Market-Informed Sourcing is the most significant development in core procurement practice since category management. As such, it can fulfil some of the perceived gap that has been much discussed recently; that of the ‘next big thing’ in procurement.
Market-Informed Sourcing allows the procuring organizations to open up options to the market, instead of narrowing down the defined requirement, which is the core of traditional Category Management. That enables the market to reflect back true economic factors in a manner that benefits the buyer.
Peter has 30 years' experience in procurement and supply chain as a manager, procurement director, consultant, analyst and writer. He edits Spend Matters UK/Europe, and with Jason Busch, the founder of Spend Matters in the US, has developed it into a leading web-based resource for procurement and industry professionals. Peter is also Managing Director of Procurement Excellence Ltd, a leading specialist consulting firm, and is recognised as one of the UK's leading experts in public and private sector procurement improvements.