After need recognition, what does a business develop for suppliers?

After need recognition in the business buying process, the next critical step is the development of product specifications. This involves defining the exact requirements for the products or services needed to fulfill the identified business need. It serves as a clear guideline for suppliers, allowing them to understand what is expected in terms of quality, performance, and other specifications.

Creating detailed product specifications is essential because it helps ensure that the organization receives the right products that meet their needs efficiently and effectively. This step facilitates clear communication with suppliers and aids in evaluating potential vendors based on how well they can meet the specified criteria.

While options such as market analysis, supply chain strategy, and risk assessment are important elements of the overall purchasing and logistical process, they do not directly follow the need recognition phase in the same way that developing product specifications does. They may come into play later in executing the procurement strategy or after suppliers have been selected, but the immediate concern is to clarify what is required from the suppliers.