What is typically the first step in the simplified acquisition process?

The first step in the simplified acquisition process is conducting market research. This step is crucial as it helps to define the requirements of the procurement, identify potential sources for goods or services, and gain an understanding of the current market conditions. By gathering information about the available products, pricing structures, and capabilities of suppliers, the contracting officer can make informed decisions regarding the acquisition process.

Market research also assists in determining if the agency's requirements can be met in a cost-effective manner and whether small businesses can fulfill these needs, promoting competition and supporting small business industries. This foundational understanding sets the stage for the subsequent steps in the acquisition process, such as developing specific procurement documents and soliciting bids or proposals. By prioritizing market research, agencies ensure they are well-prepared to engage with the marketplace effectively.