Purchase/SCM teams should ensure that individual purchase plans and plans for prequalification demonstrate active sourcing efforts for diverse suppliers. Prequalification is further addressed in Section 2-22, Prequalify Suppliers. Specific methodologies should be included for including SMWOBs in the purchasing process. Also, it must be ensured that each purchase/SCM team’s market research includes specific efforts to identify SMWOBs capable of prequalification criteria and that these firms are encouraged to compete.
Market research is performed by continuously assessing the marketplace for drivers of market segments, industry trends, impact of new technology, competitive dynamics, supplier characteristics, and number of suppliers (national or regional) in a market. Market research is further addressed in Section 1-10, Conduct Market Research and Benchmarking Analysis.
