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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.

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.

Do you remember the last time you took the wrong ramp onto the highway and how it made you feel? Most people instantly know that they took a wrong turn and hope that the next exit is not too far off. Unfortunately, our brain doesn’t experience the same stress when taking the wrong turn in developing category strategies. Category strategies in Procurement are a methodical approach for defining the best way to buy goods or services for their business. Done right, they help companies align business requirements with market realities to leverage market opportunities and mitigate risks. Done wrong, they might lead us down the wrong road.

Converting a procurement category  strategy into actionable, value-driving initiatives and measures is a critical milestone in the category strategy development process.

We are proud to announce that for the 3rd consecutive year, Cirtuo has been selected for the 2023 ProcureTech100, the ultimate list of pioneering technology solutions propelling the Procurement profession forward.