Summary

As the procurement function shifts from the tactical to the strategic, a deeper focus on category management is required to achieve breakthrough value. To transition to a strategic organization partner, it is vital to develop strong, long-term category strategies aligned to corporate and stakeholder objectives.

Category management for the future requires skilled managers, innovative processes and efficient tools and templates to drive success. When addressed as?a change management effort, such a strategic transformation can have far-reaching benefits for organizations in terms of total cost of ownership, risk management, supplier innovation and capability development. Hence, it’s imperative for companies to: