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Category Management in Procurement: A Comprehensive Overview & Best Practices

SCMDOJO

It involves segmenting spending into areas that contain similar or related products, allowing for a focused approach on categories that offer opportunities for consolidation and efficiencies. Well, in-depth knowledge of the supply market will inform the best category management strategy.

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Let’s Get Digital: Introducing your Source-to-Pay Guide

ivalua

It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. Through its sophisticated series of processes, organizations can unlock efficiencies and maximize profits like never before. What is Source-to-Pay?

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Supplier Collaboration: Fundamental to Elevating Manufacturing Performance

Jaggaer

By selecting and developing the right suppliers and establishing streamlined, transparent communication with them, manufacturers gain the agility and resilience to respond to customer demands, rise to the top, and navigate disruptions more easily. Decision-makers must plan supply chain resilience strategies for a wide range of risk scenarios.

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Category management is much more than strategic sourcing

Future Purchasing

Category management is the strategic end-to-end process for managing categories of related supplier spend that aligns business goals and requirements with supply market capability. It creates cost efficiencies across spend categories and minimises supply risks through improved supplier selection.

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What Does “Good” Look Like: Strategic Sourcing

ivalua

That is hardly optimal given the diversity of products, services and supply partnerships in place at most companies. That creates the opportunity to introduce new suppliers and pricing models, opening the door to greater efficiency and a true competition of ideas.

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AI in procurement – The machine/human paradox

Spend Matters

So where and how is this great leveller of procurement effectiveness being used in the real world (the practical) and how is it viewed by the CPOs and heads of procurement and supply chain who are on the front line fighting the daily efficiency battle.

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Time to Look into the Future of Procurement!

Supply Chain Game Changer

Drive a thorough understanding of both the supply market and internal company requirements. Today’s uncertain and volatile markets make agility and change inevitable as well as essential. With some suppliers, it’s also possible to use strategic sourcing projects to optimize total cost of ownership.