Category Management
Category Management
Category Management is a process for strategically managing the core and high impact spend categories, aligned by preferred suppliers and types of goods and services.
Category management ensures intelligent classification and transparency into your organization’s consolidated spend, by segmenting, categorizing, and combining associated items through a smaller group of cost-effective suppliers.
Our Unique Approach
We at Money Plant, ensure effective Category Management to help your organization achieve the increased visibility across all categories, identify and realize sustainable opportunities for value and to better manage category strategies.
Benefits of Category Management
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Helps organizations formulate effective procurement policies and strategies
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Benefits organizations regulate their procurement processes and resources, focusing on particular areas of spend, throughout the procurement lifecycle
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Helps organizations progress on strategic and tactical sourcing decisions
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Helps organization focus more innovative ideas for supplier effective management.
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Helps organizations adopt methodology to decrease the cost of purchasing goods and services, ensuring sustainable benefits and continuous improvement opportunities
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Provides real time information on the number suppliers, spend in period, type of spend and spend purchasing patterns, by monitoring spend, assessing performance and taking corrective sourcing actions to deliver business commitments.
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Helps organization limit and mitigate supply chain risks