Market Trend and Supplier Update Tracking Project Template

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Keep your procurement process agile and informed with the Market Trend and Supplier Update Tracking template. This project is designed for sourcing executives to regularly monitor market trends and supplier updates, ensuring you stay ahead in the competitive landscape.

By implementing this template, you'll establish systems for tracking and analyzing market data and supplier updates, conduct regular reviews, and make informed procurement decisions. Stay proactive and anticipate future trends with ease.

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Market Trend and Supplier Update Tracking Project for Priority Matrix

Market Trend and Supplier Update Tracking Project in Priority Matrix

Stay informed with market trends and supplier updates to make better procurement decisions.

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Proposed Tasks

High Impact, Immediate

  • Task 1: Set up Market Trend Monitoring Systems- Due in 1 week
    ☐ Identify reliable sources for market data ☐ Set up a system to regularly monitor these sources ☐ Establish a process to analyze and interpret the data
  • Task 2: Create Supplier Update Tracking System- Due in 2 weeks
    ☐ Identify key suppliers ☐ Create a system for tracking updates from these suppliers ☐ Establish a process for reviewing and acting on these updates

High Impact, Strategic

  • Task 3: Conduct Initial Market Trend Analysis- Due in 3 weeks
    ☐ Collect initial data ☐ Analyze data to identify current market trends ☐ Document findings and implications for procurement
  • Task 4: Conduct Initial Supplier Update Review- Due in 1 month
    ☐ Collect initial supplier updates ☐ Review updates to understand implications for procurement ☐ Document findings

Low Impact, Operational

  • Task 5: Regular Market Trend Review- Due every month
    ☐ Collect and analyze latest market data ☐ Update market trend report ☐ Review implications for procurement and act accordingly
  • Task 6: Regular Supplier Update Review- Due every month
    ☐ Collect latest supplier updates ☐ Review updates and document findings ☐ Act on any necessary changes in procurement strategy based on updates

Low Priority / Future Planning

  • Task 7: Market Trend Forecasting- Due every quarter
    ☐ Review market trends over the past quarter ☐ Forecast future trends based on data ☐ Review implications for procurement and adjust strategy as necessary
  • Task 8: Supplier Risk Assessment- Due every quarter
    ☐ Review supplier updates and performance over the past quarter ☐ Assess risk level of each supplier ☐ Adjust procurement strategy as necessary based on risk assessment