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Coupa announced during its Inspire 2025 event that it has acquired Cirtuo, a provider of categorymanagement (CatMan) software. The move addresses a long-standing gap in many procurement technology offerings: helping teams define and manage procurement strategies, rather than just executing sourcing events. What is Cirtuo?
Subscribe What’s the Difference Between Commodity Management and CategoryManagement? The business that is selling either raw materials or processed goods has to deal with inventory management. By labeling and sorting the products based on categories, it is easier for a consumer to pick what they need.
From our research, it is clear that many organisations still see categorymanagement as simply another term for strategic sourcing. However, we believe that categorymanagement and strategic sourcing focus on different aspects and have distinct goals. It is often an output from a category strategy.
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.
The procurement and supply chain categorymanagement landscape will remain turbulent, with geopolitical tensions, worries over fresh tariffs, rising costs, and supply chain disruptions posing significant challenges. To prepare for all eventualities, grab your copy of the GEP Spend Category Outlook Report 2025.
Clearly, there is a potent argument for developing a category strategy for AI support in procurement, as all the key stages in categorymanagement immediately apply to understanding what we want and need. Resource management and reporting is something AI can contribute to as humans tend to be less diligent with mundane tasks.
This article outlines how to perform a maturity assessment of your categorymanagement practices and translate the findings into actionable improvement opportunities and accelerate adoption. The performance of your procurement organisation is relative Everything is relative in Procurement. We have seen progress in the results.
It was great to see categorymanagement being consistently raised as a key topic by the keynote speakers. A clear takeaway for me was the potential for AI to help categorymanagers accelerate the development of actionable insights and value opportunities.
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.
A Fortune 500 CPG company partnered with GEP to improve end-to-end categorymanagement, optimize direct spend categories, and increase strategic focus on tail spend.
As part of our Q4 research into supplier risk, third-party and supply-chain risk management (TPRM/SCRM) and the solutions that support it, we have not only conducted analyst- and market-led research in the shape of analyses, advisory, definitions and webinars.
Successful supplier negotiations begin long before a categorymanager sits down at the negotiating table. The post Whats The Price (Buynamics): Vendor Analysis Cost Management solution overview, competitors, user considerations, analyst summary appeared first on Spend Matters. This content is for members only.
Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Risk Mitigation: Identify and manage procurement risks by ensuring supplier reliability, diversifying sources, and monitoring market trends. Savings can be cashable or non cashable i.e. cost avoidance.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. Core Operational Focus Areas A modern strategy must prioritize foundational capabilities, including spend analysis , vendor management, contract lifecycle management, and risk management.
A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, risk management, and contract negotiation. CategoryManagementCategorymanagement refers to the focused management of individual aspects of your procurement process.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. Core Operational Focus Areas A modern strategy must prioritize foundational capabilities, including spend analysis , vendor management, contract lifecycle management, and risk management.
To potential buyers — True ValueHub can save categorymanagers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers. We asked True ValueHub’s CFO and COO Sophia Banar: How did True ValueHub come into being?
Procurements most valuable players Jesus Campos , CEO CorporateLATAM, once wrote on Spend Matters that procurement functions must address two key areas to navigate the uncertainty of global markets: risk management and organizational structure the latter being relevant to our discussion on procurement transformation. The Risk Manager.
Mastering Procurement – Essentials Skills and Competencies Mastering Procurement by Maryna Trepova is the ultimate Procurement and Purchase Management course for Engineers, Entrepreneurs, Managers, and Students. However, this procurement course aims to introduce you to the procurement management and administration process.
The key focus of our webinar, ‘From Benchmarks To Traction: How to Turn CategoryManagement into a Value Driver,’ was Embedding CategoryManagement across the Procurement Operating Model and sharing practical tips for building and continuously developing effective category teams using insights from the 2024 CategoryManagement Report.
7) E-contract management E-contract management enables you to store contract terms, SLAs, and expiration dates digitally, and monitor them within the system. E-contract management also ensures no documentation is missing when it’s time for an audit. Exception handling can be standardized across the organization, as well.
Fewer Emails Procurement teams typically manage more suppliers than Sales teams do customers. Furthermore, Procure-to-Pay (P2P) , e-Sourcing and Supplier Relationship Management (SRM) apps often contain supplier portals. Three-way communication between Buyers, Stakeholders and Suppliers avoids the need for unnecessary emails.
But before this can happen someone has to identify suitable vendors to secure goods and services at the best value (not necessarily the lowest price) within a variety of constraints (risk management, ESG and regulatory factors etc.). Categorymanagement segments your expenditure into areas which contain similar or related products.
Direct and indirect procurement are two fundamental approaches in supply chain management, each serving distinct functions within an organization. Indirect procurement supports organizational agility, requiring tailored controls and workflows to manage cross-functional spend. Find Out More What Is Procurement?
This meant that implementing one of the full end-to-end spend management suites was not feasible from a cost and change management perspective. For the third piece of tech, a contract management system, the Legal Department was a strong ally. The Legal Department was a key champion as well. It has been a home run.
Smarter, faster, still human — A GenAI playbook for modern sourcing Iyyappan Chandramouleeswaran, a source-to-pay transformation specialist and ex-management consultant, offers some personal insights into how instead of replacing humans in sourcing processes, it unlocks strategic capacity by augmenting their work.
CategoryManagers memorised ERP commands as if they were sacred. Hiring managers evaluated candidates on these skills, rather than looking towards the future. Categorymanagement Modern categorymanagers orchestrate ecosystems of suppliers, technologies, and internal stakeholders.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a third of their time performing busywork. Adults should be treated as adults.
Rapid technological advancements and the pressure to deliver value while managing limited budgets further exacerbate these issues. This challenge is exacerbated by a lack of visibility in government supply chains, which hinders risk management and makes it difficult to build a resilient supply chain.
Supply chain management typically does not fit very well with procurement, which is a challenge at the best of times, and can be a disaster in difficult times. We need to rewrite these systems and introduce new taxonomies to manage hyper-variability. And insight is what we got, in spades. Our thinking is still siloed.
Think of common indirect categories: IT infrastructure Facilities management Capex for machinery & equipment Property maintenance Fabricated spare parts Promotional goods All of these require skilled negotiation to avoid costs that would otherwise hit the company’s budget.
The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. In these categories there are plenty of alternative sources. Your focus here is to get security of service at a good price.
Category-level analysis supports smarter sourcing by giving categorymanagers the insight they need to negotiate better terms, evaluate supplier performance, and align spending with strategic priorities. If sourcing managers ignore the reports, or finance and legal question the numbers, the initiative stalls.
Automation and Efficiency Automation liberates procurement professionals from mundane transactional tasks, allowing them to focus on strategic initiatives like categorymanagement, sustainability, and fostering innovation with key suppliers. CategoryManagers will be freed up to spend more time on execution rather than data gathering.
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. Admitting you need an Interim Manager or Freelance Consultant for a project is a sign of strength, not weakness. Invest in change management.
Supply disruptions and market dynamics impacted many companies because they had limited visibility into their supply chains, no structured risk management programs and inadequate mechanisms to monitor markets.
It includes sourcing and supplier management, contract management, and procure-to-pay (P2P) functions. Key elements include total cost of ownership (TCO) analysis, supplier relationship management, and categorymanagement. What is Source-to-Pay?
Procurement managers are pros when it comes to negotiating deals down to the penny, working closely with suppliers to secure terms that place them at a strategic advantage. Direct vs. Indirect Spend Types of Indirect Spend Categories What’s Behind This Disconnect? What Happens When Indirect Spend Isnt Managed?
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. We normally now refer to the first step as spend management and we use spend analytics technology to aggregate and explore spend data.
JAGGAER characterizes the steps in this process as Spend Management, CategoryManagement, Sourcing , and Contracts. While the shift may seem complex, breaking it into clear milestones makes the process more manageable, allowing your organization to stay focused on the bigger picture while driving long-term success.
Analysing transactional data, contract pricing, and external developments to notify categorymanagers of potential opportunities is close. AI has shown great potential to support procurement in identifying patterns and suggesting opportunities. After all, insights are universally indispensable.
These include risk management and resilience in a volatile world. Companies want to avoid or mitigate disruptions to the supply chain and manage stranded assets. Categorymanagers can then play a key role here, for example by exploring market opportunities for low-carbon alternatives. But there are other considerations.
Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills? The primary goals of SRM are to foster hand-in-glove supplier relationships, manage risk, and optimize the value chain.
Spend Matters is delighted to announce the 2024 roster for our ‘Future 5’ list. For the sixth year in a row, our analysts have highlighted five start-ups that excited them the most. This year, the five companies that have proven themselves as potential future trend setters are BlueBean , ivoflow, Covalyze, Halo Ai and True Value Hub.
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