Information overload is damaging. Lots of details can sometimes cause analysis paralysis and impact your ability to make accurate decisions.

Too much information + lack of insights = no strategy

When lack of strategy meets ever-soaring demands, it becomes difficult for procurement teams to stay laser-focused and document a category strategy with clear and specific goals.

Here, our category strategy template comes to rescue and helps you set out a detailed plan to:

• Evaluate the current state of your various categories.
• List the most critical risks that you and your team identify in the categories.
• Get up to speed on the current market situation by identifying alternative suppliers, their locations, and product/service offerings.
• Select applicable commercial and/or process levers for the category and specify the feasible alternatives.
• Decide on and create the appropriate action plan for you and your team.
• Document the strategy on a "one-pager" where specific goals are detailed, e.g., savings target, number of suppliers, contract lengths, and market complexity.

Using this template, you can follow a matrix-based approach to develop repeatable and sustainable strategies to deliver bottom-line results.

Once you have a well-defined and documented category strategy in place, you can facilitate your team to develop and/or refine potential market approaches and scale benefits.

We have experienced great success by using this template for numerous businesses.