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How Category Management Facilitates the Growth of Businesses? SpendEdge’s Latest Blog Explains

November 18, 2019

LONDON--(BUSINESS WIRE)--Nov 18, 2019--

SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on the top 4 benefits of category management to grow your business.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191118005639/en/

Category management is imperative for companies in the retail category that manage a plethora of items. It facilitates an effective purchasing strategy and helps companies realize substantial savings in procurement. Simplifying demand and taking a bigger contract is a key strategy for companies to improve category management. Furthermore, it makes procurement easy by collecting and centralizing similar items into a single contract.

At SpendEdge, we understand that developing a clear understanding of the organization’s core values and key objectives are vital to improve category management. This blog explores a few of the top reasons why you should focus on category management.

Key Benefits of Category Management

Healthier performance of suppliers

Improving the category management process can help companies to gain greater value from suppliers. It fastens the time between the initiation and completion of projects. If done strategically, it can help new suppliers and contracts with layers of adjustments. Increasing supplier efficiency can also enhance the procurement process.

Strengthening supplier relationships is crucial for companies to gain the most from them. Request free platform access to identify top suppliers from your region, their pricing models, and accurate performance ratings across categories.

Greater client satisfaction

Usually, category management is looked after by the category manager. It undertakes the responsibilities of contracts and services such as sourcing requirements, collecting bids, and negotiating contracts. This provides the opportunity for business people to focus on their work and deliver value-basedservices to address client’s needs. To gain detailed insights, get in touch with our analysts here!

Better insights into spending

Without an effective category management process, companies lack insights into the accuracy of expenditure as no one tracks the contracts that are on the way. Not only this, there is no information about suppliers, thereby, making it difficult to analyze and monitor spend. Category management facilitates companies to gain a better understanding of spending on existing as well as upcoming contracts.

To know more about the benefits of category management that can help your business to grow, read the complete article here!

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About SpendEdge:

SpendEdgeshares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.

Request free proposal to know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191118005639/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSULTING

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/18/2019 11:27 AM/DISC: 11/18/2019 11:27 AM

http://www.businesswire.com/news/home/20191118005639/en