Category Management and Strategic Sourcing

Category Management and Strategic Sourcing are processes used by organizations to manage procurement effectively. Category Management involves organizing purchasing needs into specific groups or "categories" (like office supplies or IT services) to streamline buying and enhance supplier relationships. Strategic Sourcing, on the other hand, focuses on analyzing an organization’s spending and evaluating suppliers to secure the best value, quality, and terms. Together, these approaches help companies make informed decisions, reduce costs, improve efficiency, and foster long-term partnerships with suppliers, ultimately supporting overall business objectives.