Phrasing product group strategies fact-based and efficiently
Product group strategies / Procurement strategies build the basis for systematical and efficient strategic purchasing departments. Every efficient procurement strategy first describes the status quo of the individual product group or procurement in general. This description is also called category dossier or rather commodity profile. In addition to the status quo, predictions and forecasts should be made for all existing data. Predictive changes and trends are to be anticipated...
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Modern product group strategy-tools such as Orpheus’ InitiativeTracker, therefore, support strategic buyers to plan and control their initiatives with as little effort as possible in order to subsequently measure the KPIs’ strategic success. This article also examines the opportunities and weaknesses of existing strategy portfolio models by Kraljic, Wildemann or A.T. Kearney and how to efficiently include those models in a holistic strategy development in strategic procurement
Lastly, we show you how to derive concrete strategic initiatives and how to measure if strategies were implemented successfully or not at all. In addition to that, we would like to address how modern software tools (Spend Analytics, Procurement Controlling, Initiative Management and Tracking) support the definition of fact-based product group strategies and also help implement strategic initiatives.