Rated as one of the best blogs for women by Forbes, WomenOnBusiness.com recently posted a guest blog entry by Jennifer Ulrich, a Project Manager with Source One Management Services, LLC.  The post, entitled "Running Lean and Mean: Do the Research before You Buy," poignantly stated that as consumers, we are diligent in researching products and services before we buy them, but businesses don't commit the same kind of time and resources to their consumption.

Jen's article delves into the types of market intelligence organizations can gather and provides a step-by-step process to gathering data.  She states that a thorough knowledge of the products and services you buy as well as an examination of market conditions will give you the insight into when and how to go to market.

"As your market intelligence of the products and services you need to run your business increases, so will the amount of dollars you save. Your research will be complete once you have enough information to understand cost models and bolster your negotiating power. With your new insight into the market, you can properly prepare for a growing market by locking in products that your competitors are trying to buy as well as prepare for a shrinking market where you will need to have stable and diverse suppliers to continue your day-to-day business."

Jennifer is noted as a contributing author in the book, “Managing Indirect Spend: Enhancing Profitability Through Strategic Sourcing,” published in 2011.

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Maddy Miller

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