LONDON--(BUSINESS WIRE)--SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their free downloadable article on the benefits of category management. The article offers detailed insights into the benefits that companies can reap by improving the category management process. The article also highlights the challenges faced by an FMCG company in analyzing different components of category management.
With the rapidly evolving retail marketing ecosystem, it has become imperative for FMCG companies to improve their category based planning. They need to build collaborative partnerships with suppliers and develop new consumer value to increase category sales volume. However, many companies find it challenging to manage categories. Download this free resource to understand the benefits that companies should aim to achieve through their category management process.
Analyzing different components of category management is crucial for companies to devise effective strategies. Request a free demo to know how our experts can help you develop strategies base on accurate insights.
Benefits of Category Management
Increases Profit Margins
Evaluation of different components of category management helps companies to determine the relevance of each item in the overall profit margins. This improves the decision making of organizations and ensures that product categories present an assortment that’s capable enough to bind customers. Adding profitable items in the profitable categories further helps organizations to increase their profits margins.
To know how companies can successfully reap the benefits of category management, download the complete article here.
Improves Supplier Relationship
Category management allows companies to increase collaboration with stakeholders and suppliers. It establishes a single point of contact within the organizational structure and increases the involvement of suppliers. This not only improves relationships with suppliers but also help companies to gain more value from existing suppliers.
Companies can identify cost reduction opportunities by improving their category management process. Request a free proposal to access our complete portfolio of category management solutions.
Enhances Spend Visibility
Companies usually have poor spend visibility if the category is not owned by anyone. They do not get accurate insights regarding the spend data. With an effective category management process, companies can easily gain detailed insights into the contracts and suppliers.
Get in touch with our analysts to know how companies can analyze different components of category management and improve them.
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