What occurs in stage 4 of the CIPS procurement cycle?

In stage 4 of the CIPS procurement cycle, the focus is on pre-procurement activities, which include market testing and market engagement. This stage is critical as it involves actively engaging with potential suppliers and stakeholders to gather insights and information that will inform procurement decisions.

During this stage, organizations conduct market research to better understand the landscape of potential suppliers, their capabilities, and the competitive environment. Engaging with the market allows for the testing of initial ideas or concepts, which helps in refining requirements and ensuring that they are grounded in current market offerings.

The pre-procurement activities played in this stage can help identify opportunities for strategic sourcing and ensure that the procurement team is well-informed before moving into formal specifications or negotiations with suppliers. This comprehensive approach aims to enhance the efficiency and effectiveness of the procurement process, ultimately leading to better outcomes in terms of cost, quality, and delivery.