What does category management include?

What does category management include?

Category management is the process of bundling like products into a singular category, or business unit, and then addressing procurement, merchandising, sales, and other retail efforts on the category as a whole.

How do you implement category management?

Category Management Process: The Key Steps

1. Step One: Define the Category.
2. Step Two: Assess the Category’s Role.
3. Step Three: Assess Performance.
4. Step Four: Set Objectives and Targets.
5. Step Five: Develop Strategies.
6. Step Six: Category Tactics.
7. Step Seven: Implementation.
8. Step Eight: Review.

What are the duties of a category manager?

Category Manager duties and responsibilities

• Research and analyze data and market insights.
• Search for insights into consumer needs and wants.
• Plan and implement long-term development strategies for product categories.
• Design exit strategies for unsuccessful products.
• Build and maintain long-term relationships with vendors.

How many steps are there in category management process?

8
The category management 8-step process (retail) Define the role of the category within the retailer. Assess the current performance. Set objectives and targets for the category. Devise an overall Strategy.

What is category management in supply chain?

Category Management is a strategic approach to procurement where organisations segment their spend into areas which contain similar or related products enabling focus opportunities for consolidation and efficiency.

How do you create a category development strategy?

This involves eight actions:

1. Engage the most important stakeholders.
2. Understand the business requirements.
3. Define a spending baseline and the evolution of that spending over time.
4. Research the supply market.
5. Analyze current suppliers.
6. Perform internal and external benchmarking.
7. Develop the category strategy.

What is government-wide category management?

Category management is an approach the Federal Government is applying to buy smarter and more like a single enterprise. The goals of government-wide category management are to: Deliver more savings, value, and efficiency for Federal agencies; Meet the government’s small business goals. Category management references:

What is category Management and why is it important?

Category management is an approach the Federal Government is applying to buy smarter and more like a single enterprise. The goals of government-wide category management are to: Deliver more savings, value, and efficiency for Federal agencies; Eliminate unnecessary contract redundancies; and

How can category management improve sourcing and tender process?

GEP suggested best practices in category management to improve the company’s strategic sourcing approach and tendering process. The client, one of the global leaders in consumer packaged goods, identified packaging as a critical area of concern because of increasing costs and disruption in supplies.

What is the category Management Professional Development Program?

This program provides learning opportunities for all positions in your organization to help build awareness, enhance, and refresh our overall expertise in category management and the retail industry. This will ultimately help your employees and associates to be more effective in their roles.