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Procurement/purchase

When conducting a market research study on procurement or purchase teams, there are several types of research studies that can be undertaken. Here are a few examples:
  1. Supplier Evaluation Study: This type of study focuses on assessing and evaluating potential suppliers in the market. It aims to understand the supplier landscape, supplier capabilities, pricing structures, product quality, delivery times, and other relevant factors that procurement teams consider when selecting suppliers. The study may involve gathering information through surveys, interviews, and supplier performance data analysis.
  1. Needs Assessment Study: This study focuses on understanding the needs and requirements of the procurement team within an organization. It involves gathering information on the types of products or services the team procures, their budgetary constraints, preferred delivery methods, and any specific challenges they face in the procurement process. The study can involve interviews, focus groups, and analysis of internal procurement data.
  1. Competitive Analysis Study: This study aims to analyze the competitive landscape and identify key competitors in the procurement industry. It involves researching and analyzing the strategies, capabilities, pricing models, service offerings, and market share of competitors. The study may include secondary research through industry reports, company websites, and market analysis tools.
  1. Vendor Satisfaction Study: This study focuses on assessing the satisfaction levels of the procurement team with existing vendors or suppliers. It may involve gathering feedback on factors such as product quality, delivery timeliness, responsiveness to inquiries, customer service, and overall satisfaction with the vendor relationship. The study can be conducted through surveys, interviews, or feedback forms.
  1. Market Trend Study: This study aims to identify and analyze the current and emerging trends in the procurement industry. It involves researching market reports, industry publications, and attending conferences or trade shows to gather insights on topics such as digitalization of procurement processes, sustainability initiatives, emerging technologies, and best practices. The findings can help procurement teams stay informed and make strategic decisions.
  1. Cost Analysis Study: This study focuses on analyzing the costs associated with the procurement process. It involves gathering data on procurement expenses, such as purchase price, transaction fees, shipping costs, and inventory holding costs. The study may also involve benchmarking against industry standards to identify potential areas for cost savings and efficiency improvements.
These are just a few examples of market research studies that can be conducted on procurement or purchase teams. The specific type of study chosen would depend on the research objectives, available resources, and the specific information needed to support decision-making within the organization.