Published: 25 May 2023
Sourcing, procurement and vendor management (SPVM) leaders are not seen as a resource for insightful market intelligence, which is critical for business leaders. Use these best practices to expand your team’s capabilities and become a trusted advisor to IT and the business.
SPVM leaders do not see themselves as the experts or as strong at providing market intelligence to IT and the business. They believe this is a key reason they are not seen as trusted advisors.
SPVM leaders lack awareness of internal and external resources, limiting the breadth and depth of market intelligence they can provide. Their primary contribution is often the vendor proposal, which is inherently biased in favor of the vendor’s marketing and objectives.
SPVM leaders often provide market intelligence only when asked rather than proactively providing insights at the time they can have the greatest impact. For this
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