Procurement is always looking for ways to improve and add value. It’s essential that we contribute to business growth and maintain competitive advantage. Sometimes that can feel a bit overwhelming – where can that next big step forward come from?
Adding value doesn’t always have to be one giant step. Even a 1% gain delivered every day can keep a category moving forward.
In his book Atomic Habits, James Clear points to the power of the 1% step. It can be “both small and mighty,” he reports.
Can this philosophy work for procurement? Could this be part of our category management approach?
How could you increase the value you deliver from your category by 1% each day?
- Could you talk to your suppliers to hear the latest ideas or challenges that they face?
- Could you make sure the procurement tech for your category is set up in the most efficient and effective way?
- Could you consider new ways to source the supply you need?
- Could you work with your stakeholders to better understand demand?
- Could you find out about ideas from other categories that might work for you?
The astonishing result of taking a 1% step forward each day is when you reach the end of the year, your category could be 37 times better than it was at the start.
37 times, imagine that!
When you think about it in terms of a tiny 1% each day it doesn’t feel that difficult, does it?
Make a start today by signing up for Categorypalooza where our sessions will feature different categories and perspectives to help you deliver that 1%.
We’ll be joined by our event partners Fine Tune, ProcurementIQ and SpendPros for a wide range of experience and points of view.
And because Categorypalooza will be run through the live digital platform StreamGo, you’ll have the opportunity to engage directly with other procurement professionals and the session speakers during the event
Click here to register for this free Art of Procurement event, which takes place on August 11th from 11am to 2pm ET.