and help businesses adjust quickly as market conditions change .”
She adds that when businesses digitalise their processes with a category management system “ they can readily access data as they develop category profiles , define category strategies , and drill down on the data to identify opportunities .”
This can help category managers identify trends and patterns in the purchase and sale of the goods and services they source .
“ It has been said that strategy is seeing a pattern in a stream of decisions . Seeing these patterns in streams of data – and making adjustments based on patterns – is crucial to developing effective category strategies ,” notes Thurman .
“ As such , the use of technology invariably leaves executives with one eye on the future , and Thurman says that in the years to come it will be important for category managers to keep up with the pace of change .
76 September 2023