Summary: Rachael Simpson from Tracker, the leading business intelligence and tender solution, looks at how developing an understanding of the defence marketplace can lead to success for your business.
Getting the right kind of insight into the defence sector is critical to giving suppliers a competitive advantage when bidding for work with the Ministry of Defence. By taking a strategic intelligence-based approach, defence industry providers can give themselves the best chance of winning contracts in this billion-pound sector.
Could you supply to the MOD?
The UK defence industry is about much more than just defence and security supplies.
For example, in the period August 2012 to August 2013 the MOD top sector for spend was construction and property. The MOD published a spend of over £472m for the 12 months to 16 August 2013. Estate management represented over 30% of the MOD’s average monthly spend across nine different sectors.
Other industries the MOD required supplies and services from sectors including: energy, legal, finance, communications, medical, transport, and R&D.
The power of business intelligence
Construction and property management may not be the first sector which springs to mind when thinking about defence sector suppliers but by looking at the data we can see there are several sectors in addition to defence and security that provide crucial supplies and services to the MOD. Taking a business intelligence approach can help you to measure your performance and benchmark your business against competitors. By looking at where your sector’s biggest buyers are spending money you can anticipate their needs, predict trends, indentify new customers and act strategically to win more business.