Use deep supply market insights and predictive analytics to support integrated business planning.
What does category management do for you today? Probably not much. Being a leader in category innovation is about supporting the organisation to deliver the most optimal commercial model for the organisation and acting ahead of the market as opposed to reacting to the market.
In the procurement organisation of the future, the emergence of big data and analytics allows insights for category managers that have not been available before. The organisation must have the right systems, processes, and people in place to know how to maximise the value. Only then can intelligent automation provide on-demand insights that will assist with forecasting, demand planning, and should-cost modelling.
Category innovation is needed to unlock untapped value through:
- Automation of tactical activities
- Data and analytics to develop and support strategies, inform decisions, and drive action
- Predictive AI to forecast changes and monitor indicators
- Deep insights which provide supply market knowledge into business strategies
- Driver-based category demand and costs which to link to business activities
- A disruption-seeking approach for step-change performance improvement and supplier engagement.