LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the completion of their most recent whitepaper on the impact of strategic category management. For several years, organizations have been successful in driving efficiency through strategic sourcing. However, to drive breakthrough value, organizations are now focusing on enhancing their skillsets and modes of operation through strategic category management.
Strategic category management offers a facilitative way of building solutions that support both business and category objectives. Also, it enables organizations to create considerable value for business beyond the agenda of strategic sourcing.
In today’s competitive business scenario, transforming procurement to operate more strategically requires careful planning and execution. Such an approach also helps organizations in identifying essential skillset gaps and performance expectations. Therefore, organizations must build necessary procurement skills to focus on a strategy that is sustainable, cohesive, and adds value for stakeholders.
According to the procurement experts at SpendEdge, “Strategic category management involves the process of developing a clear understanding of the organization’s core values and key objectives.”
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Building blocks for sustainable strategic category management:
- Category definition and segmentation – Defining each category and segmenting them into similar groups forms the basis of strategic category management.
- Design a strategic category management dashboard – Designing a strategic category management dashboard is essential for every organization. It should be designed to support your business strategy and scorecard goals.
- Develop the necessary skillset – It is necessary to develop the required skillsets to implement the strategy and to gain maximum benefits from the category management dashboard.
- To read more, download this whitepaper
Download the complete whitepaper on strategic category management here:
https://www.spendedge.com/request-white-paper?related=6809
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About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
