Category innovation in procurement
Category innovation in procurement
Insight

Category innovation in procurement

Use deep supply market insights and predictive analytics to support integrated business planning.

The future of procurement

What does category management do for you today? Probably not much. Being a leader in category innovation is about supporting the organization to deliver the most optimal commercial model for the organization, and acting ahead of the market as opposed to reacting to the market.

In the procurement organization of the future, the emergence of big data and analytics allows insights for category managers that have not been available before. The organization must have the right systems, processes, and people in place to know how to maximize the value. Only then can intelligent automation provide on-demand insights that will assist with forecasting, demand planning, and should-cost modeling. 

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.
Procurement organizations are going to need broader skill sets and individuals who can do more strategic thinking and problem-solving.
Dipan Karumsi, Principal, Procurement and Operations Advisory, KPMG US

The CPO agenda for the future of procurement

It’s no longer business as usual for procurement. The scale and speed of transformation required to address the mix of disruptors impacting procurement is unprecedented. The key to success is to proactively develop a blueprint for how your procurement organization can turn these disruptors into opportunity for competitive advantage and growth. Learn more about the future of procurement.