Data insights Drowning

“We’re drowning in data yet starving for insights.” I am not sure who came up with that one, but it really hits the nail on the head in our information age.

Data-driven decision-making is one of the hottest topics we hear in Procurement lately. Hand-in-hand with digitization, it caters to the dilemma many procurement organizations and category managers face today: So much data – then so what?

When it comes to category management and category strategy creation, distilling the most relevant information from an ocean of data is a real challenge. “It’s paralyzing me!” that’s what I recently heard from an experienced Category Manager. Imagine how it feels for the juniors among us!

Technology comes to the rescue, again. Imagine a solution that guides you through the entire process, provides empirically proven recommendations, helps you stay focused on what really matters, and offers seamless integration with the most advanced provider of digital market intelligence (Beroe Inc) – with relevant insights and benchmarks at your fingertips in split-seconds, or even pre-populated in your digital tool!

Sounds too good to be true? Well, you may be up for a surprise. It’s in the hands of leading procurement organizations around the globe already. Check out Cirtuo Guided Strategy Creation procurement software! And let’s stop drowning!

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Demonstrating tangible business value by implementing actionable category strategies

Too often, category strategies end up in drawers. They don’t get implemented, or struggle with low adoption. Reasons range from low stakeholder involvement or buy-in to limited practical applicability under given market conditions or simply botched implementations. With disjointed project planning, task management, and value-tracking activities, bringing the carefully created strategy to life is not a given. In the end, a strategy not implemented is a wasted strategy.

Winning over stakeholders: achieving strategic alignment in Procurement

In the webinar “Winning over stakeholders: Achieving strategic business alignment in Procurement”, Michael DeWitt, VP Indirect Spend Management & Center of Excellence at Walmart International, Sam de Frates, VP Procurement EMEAA at Mars, and Drasko Jelavic, CEO of Cirtuo, discussed with Fabian Lampe, Founder of Advance Procurement, the importance of engaging stakeholders, aligning Procurement with their objectives, and translating the objectives into actionable category, supplier, and negotiation strategies.

developing holistic category strategies

Understanding the supply market is imperative for developing holistic category strategies

Category strategies help Procurement align business requirements with market realities to leverage market opportunities, mitigate risks, and increase supply chain resilience. The methodical approach for building category strategies aims to help companies assess and plan how to best acquire goods or services for their business under given market realities. We have explored the ‘internal analysis as foundation for holistic category strategies’ in our recent blog, stating that the process of managing a category strategically is perpetual.