Driving Enterprise-wide Savings With Mature Category Management
Defining and operationalizing for big picture impact
As we explained in Part 1 of our category management white papers, Category Management – Overcoming Barriers to Sources of Value and Innovation in Your Supply Base, many procurement organizations are not taking full advantage of category management strategy as a means of cost reduction and risk management – even though it tops the list as the most important managed service that procurement can deliver to the enterprise. Why? Because many procurement organizations do not understand what category management means nor how to use it as a strategic sourcing tool and therefore, are unable to develop a vision, define a scope, and create an actionable category management program.
In this white paper you will learn:
- How to increase category visibility – Using an analytics dashboard to connect business objectives with specific actions
- Which category management activities to track – Choosing the right data in order to drive the right results
- How embedded intelligence sustains the category level perspective – Why procurement needs to lead the way to improve clarity, output, and collaboration at the category level
- Use cases for embedded intelligence – Real-life scenarios of embedded intelligence in a category management program
In our white paper, Driving Enterprise-Wide Savings with Mature Category Management, we look at the importance of building an analytics dashboard, using technology to automate processes, and how to use embedded intelligence to guide activities to reach business goals.
Like many other procurement initiatives, category management execution requires a powerful technology platform that supports big data, real-time supplier visibility, and automation capabilities. Category management relies heavily on specific analytical and data, which is critical to responding to shifting market trends, competition, and global events.