Over on the Purchasing Practice Academy we have launched the Category Management Master Class which was 12 months in the making. Here is a bite-size look at the key principles of category management:
Category management is founded on five key principles:
- Cross- functional team approach
- Strong supply market knowledge
- Make change happen
- Stakeholder engagement
- Facts and data based
- program level, where a steering group manages the category programs .
- corporate governance, refers to the system by which companies are directed and controlled
If these factors are in place category management becomes a part of the company’s overall business strategy, and procurement can play a lead role in driving and influencing strategy.
Nuff said …
How does your category management approach stand up? Let us know.
If you would like to learn more about our category management process, templates and tools, contact us on firstname.lastname@example.org