In an environment where many organisations are suffering from “demand shock” with revenues and profits under significant pressure and at the mercy of forces which are beyond their ability to control, thoughts naturally turn to better category management or in short, the management of cash and costs.
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A number of recent C suite surveys have shown that many companies have responded by slashing capex, reinforcing existing financial performance controls including client credit management, suspending dividend payments and so on. All very understandable, but this also begs the question ‘Are external cost reduction and value management levers also being pursued with the same degree of rigour?’.
If the answer to this question is ‘no’, companies should seek to implement an effective category management programme focused on the systemic identification and delivery of value-creating opportunities across their third party spend base.
Read our white paper which highlights the key enablers that are central to benefits realisation. Can your organisation identify with these?
This white paper has been guest written by Mark Sukiennik. Mark is Managing Partner at Intelligent Sourcing Solutions Limited. He has worked in procurement for over 30 years and has previously operated in a variety of procurement and consultancy leadership roles. The aim of our white papers is not only to provide useful insight, but also to provoke thought and discussion around key procurement topics.
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