SIG University Certified Sourcing Professional (CSP) program graduate Devendra Pathakshares how the focus on Category Management can help your organization grow with his very own with a step by step model.
Category management is one of the areas in which I should focus on my organization.
After the category management session, I understood the importance of category management. A category plan has two main aspects, category analysis, and category planning. However, before starting to work on any category plan, I would like to understand the category maturity. It will give me a real picture of the category and areas where we should be more focused. Once I study the category maturity in terms of spending and contracts, I will then work on the category plan.
Category analysis where I will study the following,
Global industry trends,
Spend analysis
Demand & supply dynamics
Porter’s five forces
Global Industry Trend- This is all about the latest trend in the category across all regions. What is the new commodity which has the highest demand globally and where we have less demand due to technological change or updates?
Spend Analysis- I can say that spend analysis is the heart of category management. It has a major role in developing a sourcing strategy. I will analyze category spending to understand the top 10 sub-categories then the top 10 suppliers and top 10 commodities where we have the highest spending in the category.
Devendra Pathak, Senior Procurement Analyst, CDK Global LLC
A Focus on the Category Management Plan
SIG University Certified Sourcing Professional (CSP) program graduate Devendra Pathak shares how the focus on Category Management can help your organization grow with his very own with a step by step model.
Category management is one of the areas in which I should focus on my organization.
After the category management session, I understood the importance of category management. A category plan has two main aspects, category analysis, and category planning. However, before starting to work on any category plan, I would like to understand the category maturity. It will give me a real picture of the category and areas where we should be more focused. Once I study the category maturity in terms of spending and contracts, I will then work on the category plan.
Category analysis where I will study the following,
Global Industry Trend- This is all about the latest trend in the category across all regions. What is the new commodity which has the highest demand globally and where we have less demand due to technological change or updates?
Spend Analysis- I can say that spend analysis is the heart of category management. It has a major role in developing a sourcing strategy. I will analyze category spending to understand the top 10 sub-categories then the top 10 suppliers and top 10 commodities where we have the highest spending in the category.