Which of the following are secondary sources of market and supplier data? (Select TWO)
A.
Published economic indices
B.
Buyer’s database of supplier data
C.
Marketing communications of suppliers
D.
Financial and trade press
E.
Field observation studies
The Answer Is:
A, D
This question includes an explanation.
Explanation:
Secondary sources are data sets and publications that already exist and are not collected directly by the buyer. Examples include published economic indices (A), which provide information on inflation, commodity prices, and market trends, and financial/trade press (D), which offers insights into industries, suppliers, and economic conditions. By contrast, a buyer’s internal database and field observation studies are primary data sources, while supplier marketing materials are biased and less reliable. Responsible sourcing requires procurement professionals to use both secondary and primary sources for comprehensive market analysis, but secondary sources are especially useful for benchmarking and environmental scanning.
[Reference: CIPS L4M4 Study Guide (v2), LO: “Application” – sources of supplier and market intelligence., , , ]
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