Category Management: Analyze the Data, Strategize your Plan, Deliver Big Results
Category managers assess demand for a product or service across the organization. The goal of category management is to find innovative ways to reduce cost and increase the competitiveness of the enterprise – not always an easy task. This supply management course will put you on the fast-track to using spend analysis and proven category management techniques to their full advantage. Leave equipped with new skills to excel in your role. During the two days, there will be ample time to participate in practical exercises utilizing new tools and methods to put to immediate use in your job.
Member Price: $1,199.00
Dec 5-6, 2023
Brandon Hummons, CPSM, CPSD, has over a decade of experience in the Strategic Sourcing and Procurement industry. He began his career in the financial services sector and then moved in consulting with Corcentric. Brandon now functions as a Category Manager at CF Industries, leading the Indirect Category – IT, HR, Sales, Marketing, Finance, and Facilities. In addition to working at CF, Brandon runs his own Procurement Education Firm named Hummons Consulting, which thrives to enable procurement leaders with the skills and resources to create successful teams.
- Supplier and customer segmentation
- The five best practices of category management
- The market forces impacting your sourcing approach
- How to determine the spend profile of a category
- Four cost elements that make up a price
- Supplier pricing methods and cost models
- How to deconstruct price
- Supplier financial analyses that provide useful options to stakeholders
- Techniques for identifying and managing category-specific risk
- How to develop a category strategy
- The five elements of a valid contract
- The significance of SOWs
Virtual Class Schedule:
Day 1 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 1 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Day 2 - 10:00 am ET - 1:30 pm ET / 7:00 am PT - 10:30 am PT (3.5 hours), Break for Lunch
Day 2 - 2:30 pm ET - 6:00 pm ET / 11:30 am PT - 3:00 pm PT (3.5 hours)
Course Overview & Goals:
- Dive into segmentation: Supplier portfolio matrix and customer matrix.
- A category management overview and process that will cover: definitions, best practices, and category teams.
- Examine supply market analysis, including SWOT, market analysis, STEEP, sources of date, Porter’s 5 Forces, and multi-year analysis.
- Learn more about spend analysis: addressable spend, Pareto analysis, classification and categorization.
- Dig deeper into price and cost analysis: price and cost development, supplier pricing methods and cost models, deconstructing price, variable cost analysis, portfolio matrix.
- Take a closer look at supplier financial analysis: profitability ratios, efficiency ratios, sources of data.
- Examine risk management deeper: planning and strategy and portfolio and risk matrices.
- Dive into opportunity analysis, including supplier matrix.
- Learn more about category strategy development and category plan.
- Examine contracts and SOWs, including elements of a contract, types of contracts, significance, and elements of SOWs.
- Leave with an action plan to implement with you’ve learned into your organization for success.
Who Should Attend:
This category management training is ideal for buyers, sourcing specialists, category managers and similar functions, as well those who manage these responsibilities.
Terms And Conditions
Virtual Learning Transferals: Registrations are transferable without any charge to another ISM Virtual Learning Course occurring within 12 months of the original purchase. Transferring registrations to another party are subject to price variance or change based on membership status and an additional $50 fee will be incurred.
Cancellations Virtual Learning: Cancellations more than 5 weeks before the date of the course will incur an administrative charge of 50 percent. Cancellation within 5 weeks of the date of the event will be charged the full fee. You must notify ISM in writing of a cancellation.
Tax Deduction: The Internal Revenue Service may permit an income tax deduction to U.S. residents for expenses (including registration fees, travel costs, meals and lodging) incurred in pursuit of continuing professional education. Consult your tax adviser for details.