Given the intensity with which companies today are focusing on innovation and profitable growth, it is imperative that procurement teams drive strategies that support enterprise-level business goals. Beyond traditional sourcing approaches, strategic category management delivers a collaborative way of developing solutions that support both business and category objectives. Category management maximizes category value to the organization, delivering on critical parameters such as total cost of ownership, risk and performance, to name a few.
While procurement organizations around the world realize the significance of building an advanced category management program, getting there isn’t simple. In a number of organizations today, category management is still at a nascent stage, perhaps indicating that though there is an organizational structure for category management, it is not quite aligned with the business strategy. For many though, exhausted sourcing strategies turn out to be their biggest hindrance.
To address this issue, GEP and SIG have teamed up for a webinar with Biju Mohan, vice president of GEP Consulting, to discuss the latest trends influencing strategic category management program design and implementation by global, market-leading procurement organizations.
Key topics include:
- How today’s strategic category management programs deliver greater and sustainable enterprise value as compared to traditional sourcing approaches. Both the agenda and the outcomes of category management far exceed that of traditional sourcing.
- Partnering with the larger business and different internal stakeholders to ensure that your strategic category management program is well-aligned with the enterprise requirements.
- Incorporating emerging technologies into category strategies to drive constant innovation. Technological advancements are ensuring that category management remains a dynamic, ongoing exercise rather than a static, one-time event.
- Identifying the most innovative levers to generate true value out of category management programs while simultaneously avoiding the “cost-reduction” trap.
- Looking at real-world business cases and examples of best-in-class strategic category management design and implementation. Learn what market-leading procurement organizations are doing to unlock category management success.
Category management today is a key priority for procurement organizations around the world. However, successful implementation depends on a lot of factors. Moreover, given the evolving global business environment, enterprises need to be mindful of how category management is being influenced by new and emerging business and technology trends.
Can’t make the webinar? SIG members can login to their account to watch past webinars on-demand and download the webinar slide decks.
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