Optimizing Your Category Management to Achieve Procurement Excellence

Making smart buying decisions is important for any organization and procurement is no longer just about cutting costs, it’s about driving value and making strategic contributions that align with organizational goals. Effective category management is essential to this process, but with markets constantly evolving, strategies that work today may fall short tomorrow.

That’s why category strategies with real-time market intelligence insights is a must. These help procurement teams to be proactive and support in constantly refining strategies in response to the changing market and business dynamics. With detailed and classified data procurement, teams can increase spend coverage while also improve segmentation.

This is where Category Watch comes in, your go-to tool in procurement. Developed by Beroe as part of our flagship platform Beroe Live.ai, this AI-powered solution offers real-time insights across 2,500 product categories, allowing procurement teams to refine strategies continuously. With detailed data on supply markets, cost structures, and forecast indexes, Category Watch turns procurement into a proactive function that not only manages risks but also identifies new opportunities for cost savings and innovation.
 

Why should you start using Category Watch?

Procurement has a unique vantage point, providing access to market-specific developments, forecasts, and trends that stakeholders rely on to make informed decisions. Category Watch strengthens that position, helping procurement professionals to build a foundation of market knowledge that inspires trust and credibility.

Ultimately, it turns procurement into a strategic part of the business, contributing to overall goals and efficiency.

Here’s what sets Category Watch apart

Global Breadth

Covering 2,500 categories at global, regional, and country-specific levels, it provides unmatched depth of insights into supply chain factors affecting your procurement decisions.

Global Breadth

It’s digital-first, AI-driven, and designed to cut down the time it takes to go from data to decision, ensuring you can quickly act on relevant insights.

Validated and Accurate Data

Category Watch sources its data from an extensive network of partners, experts, and suppliers, ensuring you’re always working with verified and reliable information.

Without access to these insights, category management can fall behind, leaving organizations vulnerable to unforeseen risks and missed opportunities. With Category Watch, procurement professionals can excite stakeholders with fresh perspectives, leveraging its seamless integration into existing category processes and tech ecosystems.

The details: Optimizing your category strategies

Category Watch comprises a range of modules that help streamline and enhance procurement strategies:

Category Insights:

Provides in-depth knowledge of specific product categories, including costs, trends, and performance, enabling procurement teams to identify where savings can be made.

Geopolitical Alerts:

Alerts procurement teams to global political or economic developments that could impact supply chains, helping make informed sourcing decisions.

Benchmarking:

Offers a comparison of procurement performance against industry standards, highlighting areas for improvement and best practices.

Alerts & Advisories:

Sends daily updates, supplier alerts, and strategic advisories, allowing procurement teams to adjust sourcing locations and negotiate more favorable contracts.

Why should you start using Category Watch?

Procurement excellence isn’t just about today, it’s about preparing for tomorrow. Markets don’t stand still, and neither should your strategy. Category Watch helps to continuously improve your processes by embedding actionable data directly into category strategies, enabling quicker, smarter decision-making.

By embracing tools like Category Watch, you not only save time and reduce risk, but you also elevate procurement from a functional role to a strategic one, driving significant savings, optimizing resources, and proving value to your organization.

Want to know more?
Get in touch to see how you can start optimizing with Category Watch today – Your strategic procurement advantage awaits.