Browse Definitions:
Definition

pre-market engagement

Contributor(s): Matthew Haughn

Pre-market engagement is the practice of consulting with suppliers before a business goes to market or enters negotiations.

Both public and private sector organizations use pre-market engagement to get an advance understanding of the market, suppliers and their offerings while also forming or strengthening relationships with those suppliers. The practice can also help an organization refine its business case and procurement plan.

While pre-market engagement is effective, many organizations prefer to wait, instead relying on competitive dialogue later. This hesitance may be due to a lack of clarity about procedures and the extent of communications allowed under procurement rules, panic buying due to a lack of time or resources, or too little understanding of a market and its offerings to properly engage with suppliers. An additional difficulty is the stipulation that most procurements must be completed in a relatively short time frame.

See also: supplier relationship management (SRM)

This was last updated in June 2016

Continue Reading About pre-market engagement

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

SearchCompliance

  • internal audit (IA)

    An internal audit (IA) is an organizational initiative to monitor and analyze its own business operations in order to determine ...

  • pure risk (absolute risk)

    Pure risk, also called absolute risk, is a category of threat that is beyond human control and has only one possible outcome if ...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • biometrics

    Biometrics is the measurement and statistical analysis of people's unique physical and behavioral characteristics.

  • principle of least privilege (POLP)

    The principle of least privilege (POLP), an important concept in computer security, is the practice of limiting access rights for...

  • identity management (ID management)

    Identity management (ID management) is the organizational process for identifying, authenticating and authorizing individuals or ...

SearchHealthIT

SearchDisasterRecovery

  • business continuity and disaster recovery (BCDR)

    Business continuity and disaster recovery (BCDR) are closely related practices that describe an organization's preparation for ...

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • call tree

    A call tree -- sometimes referred to as a phone tree -- is a telecommunications chain for notifying specific individuals of an ...

SearchStorage

SearchSolidStateStorage

  • hybrid hard disk drive (HDD)

    A hybrid hard disk drive is an electromechanical spinning hard disk that contains some amount of NAND Flash memory.

Close