Category specific insights maximize the value within each of procurement’s unique categories and provide significant value to the business by enabling informed decision making and a stronger strategic approach. Using specialized knowledge and insights in a specific category can uncover new opportunities for procurement, as well as identify potential areas of risk or threat to the business.
The most effective practitioners of category specific insights leverage market trends and intelligence, external and internal relationships, internal data analysis, and advanced analytics and reporting tools to drive innovation, mitigate risk, reduce costs, and position procurement as a strategic value driver for the business.
