Category Management is the collaborative process of organising retail categories as independent business units, aimed at bringing value to a customer thus producing business results.
If you are interested in making category management a priority in your company then putting in place the principles of category management will help your company’s overall business strategy.
There are the 4 Standard P’s of Category Management:
Product, Placement, Price & Promotion.
Basically, this means giving customers what they want, where they want it and when they want it.
Category management is recognised to be founded on five key principles using:
Strong supply market knowledge
A cross- functional team approach
User / Customer engagement
Using factual accurate sources of Data
By incorporating each of these aspects and reviewing your supply chain practices from the top down, you can be far more effective in your category management.