Luxury Cars Category Management – A SpendEdge Success Study

Luxury Cars Category Management – A SpendEdge Success Study

Category Management Process

Today, organizations are increasingly turning toward category management as a lever to drive strategic growth. DemoAlso, it is crucial for companies looking to save significant amounts in procurement by implementing an efficient process. Here are seven steps of a robust category management process:

  • Prospect Identification
  • Prospect Development
  • Strategy Decision
  • Supplier Screening
  • Auctions
  • Proposal Negotiation
  • Suppliers Management

Category Management Principles

Implementing the category management principles will help companies place their management strategies at the heart of their overall growth strategy. Let’s take a look at a few basic principles that govern business growth across industries.

  • Facts and market data
  • Strong supply market intelligence
  • Strong supply market intelligenceContact US
  • Cross-functional approach
  • Change management

Luxury Cars Market Overview

A rise in tangible luxury offerings in the automotive industry, increasing disposable income of the consumers, and shifting consumer preference from sedan to hatchback is propelling the demand for luxury cars. The luxury cars market is also experiencing additional prospects across a wider range of geographies, reaching both developing and emerging markets.

SpendEdge’s procurement market intelligence solutions assist industries in methodically monitoring the supply market settings and understand category management process and principles.

Start your 14-Day Free Trial Now.

Request free proposal