Supply Market Intelligence and Trust

Here is a very interesting post written by Maggie Slowik, Research Manager at Procurement Leaders, concerning the most trusted sources that procurement professionals go to for market intelligence research. The post reports on PIU survey results and even though it was published in Jan. 2012, it still provides valuable information. “The most popular source for market intelligence seems to be suppliers, indicated by a staggering 92% of survey respondents. Some 80% rely on low-cost sources such as the internet and newspapers, but 60% still use costly management consultancies to provide market information. It is further noteworthy that a fifth of respondents (20%) actively use newer information channels, namely social media, to get to the information they need.”