- Posted by: aquiliti
- Category: Business Intelligence, Business plans, Procurement
No Comments
Category Plans should assist organisations to effectively and strategically manage spend and provide insights to inform the strategy and support business decisions.
Here are the typical challenges that procurement teams face with category plans and six steps that can be used to overcome them.
TYPICAL CHALLENGES
- Category plans are often complex, time consuming and static
- Procurement is constantly challenged by the value contributed to the organisation
- Organisations do not have visibility on procurement’s category plan status
- Lack of resources and skills to forecast stakeholder needs & suppliers’ spend
SIX STEPS FOR SUCCESS
- Dust off your existing category plans
- Engage the business to validate priorities & expectations
- Simplify and translate category plans into clear & quantitative milestones
- Use digital dashboards to visualise key category insights & targets
- Automate data gathering & reporting
- Establish a category management forum to share learnings
THE BENEFITS
- Greater collaboration & learning
- Focus on what is really important
- Add real value to your business
- More agile decision making
- Less time spent on running tedious analysis, meaning…
- More time for developing stakeholder relationships
