ANSWER-Once specification has been developed, the procurement
professional is aware of what is required, why and when. The options to
consider include the budget available to spend on the procurement, the
number of suppliers available and whether to make or buy
To fully understand the market pricing, procurement professionals should
research the level of competition. The .... .... ... model is an established way
of assessing the competition - ANSWER-Porter's Five Forces
Porter's Five Forces Model - ANSWER-- Threat of new entrants
- Threat of substitutes
- Bargaining power of buyers
- Bargaining power of suppliers
- Rivalry among existing Competitors
The four quadrants of Carter's Outsource Matrix - ANSWER-- Strategic
Alliance
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