Browse Definitions :
Definition

pre-market engagement

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

SearchCompliance

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

  • risk assessment

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

SearchSecurity

  • cyber espionage

    Cyber espionage, also called cyber spying, is a form of cyber attack that is carried out against a competitive company or ...

  • virus (computer virus)

    A computer virus is malicious code that replicates by copying itself to another program, computer boot sector or document and ...

  • honeypot (computing)

    A honeypot is a network-attached system set up as a decoy to lure cyber attackers and detect, deflect and study hacking attempts ...

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close