Once the project has been approved by senior management and the team has been selected, the next logical step for the supply manager is to conduct market research to identify possible suppliers. This involves gathering and analyzing data about the market to understand the availability of suppliers, their capabilities, and their potential fit with the organization's needs. Market research helps to identify potential suppliers that can meet the raw material requirements, ensuring a robust supply base is developed to support the category management plan. References:
* "Purchasing and Supply Chain Management" by Robert M. Monczka, Robert B. Handfield, Larry C.
Giunipero, and James L. Patterson
* Institute for Supply Management (ISM) guidelines on supplier selection and market research