From the coalface

In the above video Neil Carruthers, a strategic sourcing practitioner, talks about the supply market and relevant factors under consideration.

Building on understanding the nature of value (what needs to be bought) Neil introduces aspects of supply market risk and complexity, which act as key inputs for shaping the sourcing strategy.

Talking point

• How would your approach differ to understanding the supply market for a simple low cost item vs. a high cost complex or bespoke item?

After hearing from Neil, consider how much effort would you expend, and what range of topics or issues would you want to understand in determining supply market risk and complexity, and any other factors as an input to the sourcing strategy decision?