Proactive, strategic category management
According to Procurement Leaders research, less than 20% of the procurement community is advancing category management framework into a more strategic approach to delivering supplier relationship management, value delivery or supplier-enabled innovation, for example.
Procurement teams need to recognise and transform to realise the true value of developing a category strategy that includes a sourcing process to deliver timely and cost-effective solutions to business needs.
Category management provides insight into four transformation levers that will help procurement executives to fully integrate category management within the strategy of the business.
- Redefining category plans: realign the focus of your category strategy.
- Understanding talent: the skills staff require to bring real value to the organisation.
- Building stakeholder engagement capability: communicate the value of category management to key internal stakeholders.
- Focusing on delivering business needs: develop a proactive approach to ensure sourcing strategies are aligned to the needs of the business.