Hargraves, C.P.M., David A.
David A. Hargraves, C.P.M., Director Strategic Sourcing, University of Pittsburgh Medical Center, 412/334-3713, firstname.lastname@example.org
Supply management professionals should use supply market analysis in their sourcing process to establish and maintain a competitive advantage while also reducing supply risk. Supply market analysis includes developing a commodity profile, examining cost structures, researching suppliers and identifying key market indicators. While supply market analysis and market research are terms that may conjure up images of dated documents, the ability to complete a supply market analysis is an essential skill for every supply chain professional. This article focuses on the essential elements of supply market analysis.