From the course: Strategic Sourcing of Suppliers
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Supply market analysis: Other tools
From the course: Strategic Sourcing of Suppliers
Supply market analysis: Other tools
- In this video, we're going to look at three other ways in which you can carry out market analysis. We'll begin with market dimensions. This includes: How many suppliers are in the marketplace? Who are the major players in terms of revenue, profit, and overall market share? Is there a dominant player who effectively leads the market and influences the actions of other participants? What does the product portfolio of players look like, and who are their major customers? If demand has slumped from market segment served by your supplier outside of your sector, what could that mean for you? Having this information will help you shape your strategy. Now, let's take a look at market dynamics. Many markets exhibit pricing that doesn't follow a straight-line pattern. Think about the price of crude oil, for example. Over time, we've witnessed peaks and troughs in the price. The same is true for most commodities and is largely, but…
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