Will Category Managers be ready to invest more than 3 minutes into preparing a category strategy in the future? According to a recent Financial Times article, Spotify identifies a 3-minute song as a perfect match.
“We are not investing in technology until the world is normal again!.” Many procurement solutions providers report hearing that out on the field when speaking with potential clients. I’m hearing it now more than ever!
I remember the day I met the RAQSCI framework to evaluate business requirements from stakeholders toward procurement. Regulatory, Assurance of Supply, Quality, Service, Cost, and Innovation – I know it by heart.
Is the “Procurement UBERization” the next big thing? The outline of a new economy can be anticipated: unemployment, minimal wages, and pay-per-use models in many segments of our life.
In the 1980s, the first strategic frameworks for procurement emerged, pointing out the strategic character of procurement in business. Procurement got more visibility, given its impact on profitability, performance, and supplier relationships.
There are mixed feelings about category management in the procurement community. How it is understood and applied today often does not justify the existence of category management. The ultimate goal of category management is to be a true partner to the business and add value. Most Category Managers have never really lived up to that role. Try them!
Many procurement professionals are preparing to face the following significant procurement challenges in 2023. First, there is an obvious notion of change transforming procurement, which I observed while meeting many procurement professionals at DPW and ProcureCon EU last September.
Last month I finished shooting the interview for our virtual keynote at DPW titled “Strategy in times of turmoil – The Role of the Procurement CEO” with BT Sourced CEO Cyril Pourrat and Financial Analyst Susannah Streeter.
Sustainable procurement is a very hot topic in the procurement industry at the moment. Organizations, particularly procurement professionals, are under increasing pressure to improve environmental, social, and governance (ESG) performance. In addition, big businesses and their stakeholders increasingly expect it from them. Elevating the role of sustainable procurement is crucially important and necessary in responding to these pressures.
When you promote automation of category strategy, one of the most tricky things is to explain to a client that data integration is NOT the key to success. At least not at the beginning of the “digitalization of category management” journey.
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