In present days the procurement professionals choose the category management as an effective way to utilize the available data in the market to get an incremental effect on the company sales.
Earlier, spending long hours to get the right outcome within the right timeline was the scenario for the procurement professionals and they would often stop at that point. All the contracts after the completion of the deal are handed over to supplier management team.
What is category management?
A Systematic approach which helps procurement to focus on their specific areas enabling to focus the time and conduct thorough in-depth market survey to influence the procurement decisions on behalf of the company.
At JIC we follow the end to end process. Our key activity is to source the product and based on the requirement managing the contract and our relationship with the supplier, which resulted in being more focused on category management.
The negotiations done with the supplier are of mutual benefit. Appropriate training pertaining to the demand and supply requirements is given after getting engaged with the suppliers. This helps them to have a broader perspective of our requirements and supplying it within the timelines specified.
Developing these new competencies helps us and our customers to grow our skills set and broaden our horizons. Applying these competencies helps us to continue to deliver value to our clients in return.