The Chartered Institute of Purchasing and Supply (CIPS) defines category management as “a strategic approach to procurement where organisations segment their spend into areas which contain similar or related products enabling focus opportunities for consolidation and efficiency”.
The concept originated in the retail sector where similar or related products are easily grouped. But its usefulness to procurement professionals in other sectors has led to its spread into other industries. Category management allows organisations to develop strategies for more efficient management of product or service groups, covering everything from stationery and fuel to legal and travel services. It enables strategic sourcing within each category, aligned to the organisation’s needs.
Download our eBook to learn:
- What is category management?
- Key category management issues
- The category management cycle
- How to embed a turnkey solution in your category management function
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