Key Components of Category Management
- Performance measurement
- Organizational Capabilities
- Trading Partner Relationships
- Business Process
- Information Technology
The above-mentioned components of category management are considered vital, without which category management cannot be practiced. Out of the six components of category management, strategy and business process are core components. Rest four factors i.e., performance measurement, information technology, organizational capabilities, and co-operative trading partnerships enable the core components to achieve the company’s overall objectives. Category management business process lays a strong emphasis on how work is done within and between organizations. It creates a balance between product and process investments and helps businesses to reduce costs.
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