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The 2024 Global CategoryManagement Report is an assessment of the current state of CategoryManagement in Procurement. Therefore, we included a question asking participants to identify their greatest challenge for categorymanagement in the future.
Ongoing training is important for procurement teams to keep up with the constantly evolving and advancing procurement tech and services landscape, specifically in niche areas such as categorymanagement, supplier management, negotiation and strategic sourcing and in the broader areas of change management and leadership.
While leadership teams search for ways to increase resource efficiencies and effectiveness, many organisations lack the structured approach to review their processes and identify areas for improvement. Maturity assessments have a bad name. We are hardwired to compare ourselves to others. We have seen progress in the results.
Exceeding procurement objectives requires strategic thinking, continuous improvement, and proactive leadership. Implement categorymanagement to gain deeper market expertise and create tailored sourcing strategies. Launch supplier innovation programs where suppliers propose new product or process improvements.
CategoryManagementCategorymanagement refers to the focused management of individual aspects of your procurement process. Finally, strong leadership and people management skills are extremely important for procurement professionals.
Although the Chief Procurement Officer role is not new, periods of high uncertainty and crises, such as those caused by the pandemic, demand innovative and inspirational leadership to guide procurement through reinvention and toward excellence. The categorymanager. The Supply Analyst.
Categorymanagers can then play a key role here, for example by exploring market opportunities for low-carbon alternatives. If your ambition is to compete on sustainability, at least in some areas, you will need to go further by engaging actively with suppliers. Not everywhere at once, but in the hotspots you identify.
a snack food company, came from how they intentionally targeted key strategic initiatives under Senior Vice President and Head of Procurement Ron Schnurs leadership. The leadership team was on board from the beginning but he still had to execute his recommendations in an orderly and intentional manner to deliver the results.
Establishing this alignment early ensures that you’re tracking the performance of your procurement strategy against outcomes that leadership cares about. Segment Suppliers by Strategic Value and Risk Develop a tiered supplier management model that reflects the relative importance of each relationship.
Establishing this alignment early ensures that you’re tracking the performance of your procurement strategy against outcomes that leadership cares about. Segment Suppliers by Strategic Value and Risk Develop a tiered supplier management model that reflects the relative importance of each relationship.
A lot of that will depend on how leadership reacts to the seismic shifts we are currently seeing in technology. CategoryManagers will be freed up to spend more time on execution rather than data gathering. Conclusion: Navigating Uncertain Waters The future of procurement hinges on organisational vision and leadership.
Our 2024 Global CategoryManagement Report identified stakeholder engagement and alignment as the primary barrier to success in categorymanagement and procurement. Leadership buy-in: Leadership plays a critical role in setting the tone.
If you pay your CategoryManagers six-figure salaries, but they spend one-third of their time on paperwork and routine tasks, this is like hiring a surgeon to fill out forms. A top CategoryManager on a $150,000 salary will likely outperform three average ones at $100,000 each. This makes no business sense.
Even when leadership acknowledges that buyers deliver more than just bottom-line savings, this appreciation rarely shows up in our performance objectives. We’re still expected to hit those hard savings targets quarter after quarter, regardless of market conditions or category maturity. Let’s face it: this is frustrating.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data.
It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. How Has Strategic Sourcing Evolved? However, whats really missing hereneeds analysis.
While direct procurement is usually centralized under procurement or supply chain leadership, indirect spend is typically distributed across business functions. For example, marketing might manage agency contracts while IT oversees SaaS subscriptions, and HR procures learning services.
It can open doors to career advancement and leadership roles. SCMDOJO Procurement Track The Procurement Track is a comprehensive program that equips individuals with the in-demand skills and expertise to excel in procurement and supply chain management.
I was a CategoryManager in a large FMCG company. Now, I bet everyone reading this can come up with a list of typical tasks that CategoryManagers or Sourcing Managers do week in, week out, which you wouldnt or shouldnt pay someone $55.55 Effective Hourly Rate is a concept I came across back in 2017.
by 2025, based on industry sources.This reflects strong, steady growth as Cirtuo establishes itself as a leader in digital categorymanagement and AI-powered procurement solutions.
Reality: No one invested time in proper training, and categorymanagers are still relying on spreadsheets. Lesson: The tool isnt the issue underutilization and lack of change management are. After several months, savings targets arent met. Blame Game: The team complains the platform is too complex or not intuitive enough.
He is also the co-author of six influential global reports on categorymanagement in collaboration with Henley Business School. At Future Purchasing, he contributes to thought leadership in procurement, focusing on areas like categorymanagement, stakeholder engagement, and sustainable procurement practices.
In China, without meaningful election cycles, the political leadership can more easily take decisions for the medium and long term. So, whereas the EU is adding 80 Gigawatts in renewable energy capacity per year, China is currently adding around 370 Gigawatts capacity per year.
Expertise Shifts : Emphasis on cross-training between Coupa’s spend management and Cirtuo’s category strategy platforms. Culture : Efforts to blend Coupa’s established corporate culture with Cirtuo’s innovative approach to categorymanagement.
Categorymanagers, supplier managers, contract managers, buyers – these roles will shrink dramatically. It shows leadership qualities that managers notice and reward. The mundane tasks that consume procurement professionals’ time are perfect for automation. The stakes are higher than you think.
Categorymanagement is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. In this guide, we’ll explore the key principles of categorymanagement and how it can benefit your organization.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
With huge, long-spanning roles at Diageo and Compass Group, Oliver … Continued The post Empathetic Leadership & How to Start CategoryManagement from Scratch with Oliver C**k – Episode 78 appeared first on Talent Drive. You can’t do it all yourself, you’re only as good as the people around you.”
Build categorymanagement coaching capability and unlock your team’s full potential. If ever there was a time for leadership teams to pull together, it is undoubtedly now. Well, there is, but for many, it’s been hiding in plain sight, building an internal business categorymanagement coaching capability.
The problem with the categorymanagement process One of the most significant problems of the categorymanagement process is the lack of adaptivity. Once issued and approved, a category strategy hardens over time and transforms from a managerial instrument into a constraint.
My core skills are across CategoryManagement and procurement function leadership, involving functional transformation, strategy development and end-to-end process improvement in a global environment. In addition, I have expert knowledge of outsourcing the procurement service.
We have three key areas: strategic sourcing, categorymanagement and vendor management, which is the onboarding and management of our suppliers and so on. The two key functional areas are strategic sourcing and categorymanagement. Then we also have vendor management.
On this subject, he was a little cagier – while he had been clear with his leadership team on who he thought it should be and had been priming that person for the role for some time, the company had decided to turn to an executive search firm. So, to be truly successful, think now about your successor.
I read several interesting articles recently on the JAGGAER blog regarding categorymanagement and technology and the analytical skills required by categorymanagers to extract actionable knowledge. Edwards Demming. To what process am I referring? Data Modernization.
When was the last time you took a good, hard look at your categorymanagement strategy? A fresh, dynamic category strategy is essential for driving continuous improvement and making sure your procurement efforts are truly adding value to your organization. Your category strategy needs to keep pace.
These programs are as familiar to procurement professionals as concepts like spend analysis or categorymanagement. With all these discussions, research, and brainstorming, many things were a blur and much of the research and thought leadership has melded together in my mind. have accepted as a key element of procurement.
In our recently published FP CategoryManagementLeadership Report 2021-22, 51% of respondents agreed an annual plan of categorymanagement projects with their relevant business stakeholders, compared to 39% in 2019-20. The importance of strategic alignment. There are a number of critical elements to consider.
The tool’s typical end users are commodity buyers and procurement leadership in manufacturing companies. Its cost savings toolbox and procurement performance management module ensure the tool is fit for strategic purposes.
is elevating the position to candidates by making them aware of the various aspects of Procurement beyond sourcing and categorymanagement. It’s critical to communicate how the function has evolved and the impact procurement professionals can have on a business’s success, particularly in a post-Covid world.
Categorymanagement has been added and embedded into the operating model. Also, on the development level, by operating across different work and cultural environments, often outside of core competencies and comfort zones, you can test, stretch and enhance your leadership skills.
Mark also has significant private sector procurement leadership experience, including roles at, Vodafone and Anheuser-Busch InBev, where he led the Global eSourcing programme, achieving impressive results that included including executing over 30,000 eAuctions per year.
The ideal candidate will have extensive experience in procurement, strong negotiation skills, and the ability to effectively communicate with vendors, internal stakeholders, and senior leadership. Dr. Muddassir has received a PhD in Management Science from Lancaster University Management School.
We are essentially set up across four key pillars: Categorymanagement and sourcing P2P Supplier management assurance and audit Sustainability. What are the roles and responsibilities the procurement function holds within your organisation? How do you split the function out?
Tier-1 reporting is imperative to supply chain tier-mapping & organizational modeling, which is a priority area receiving increased attention by leadership teams. Leadership acceptance, technology budget, and enhanced procurement resources are the first steps towards addressing this not-so-secret secret. Dirty Little Secret #2–4.
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