How Procurement Category Managers Can Transform Procurement

Feb 7, 2023 | Best practices

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Feb 7, 20232 min read

A procurement category manager is hired to manage procurement of a specific category of goods/services, offering expertise and solution for challenges, expanding into new markets, driving innovation and identifying cost savings. With relevant knowledge and experience, a procurement category manager can improve the overall quality and cost of procurement for an organization.

A procurement category manager is a professional responsible for managing the procurement of a specific category of goods or services for an organization. Hiring a procurement category manager may be necessary for organizations that are looking to transform their procurement process in some way or require specialized knowledge and expertise in managing the procurement of specific goods or services. 

One of the main reasons to hire a procurement category manager is when an organization is facing challenges in managing the procurement of a specific category of goods or services. For example, if an organization is struggling to negotiate favorable prices with suppliers or is having difficulty managing the quality of goods or services, a procurement category manager may be able to help. Positive outcomes would include identifying cost savings opportunities, negotiating better prices with suppliers, and improving the overall quality of goods or services. 

When an organization is looking to expand into new markets or introduce new products or services, it may require a procurement category manager with relevant expertise. For example, if an organization diversifies from electronics manufacturing to also manufacture IoT devices and sensors, it would be beneficial to onboard a category manager with relevant expertise. 

A procurement category manager can also play an important role in driving innovation within an organization. They can help to identify new and emerging technologies, trends and innovations in their specific category of goods or services, and work with internal stakeholders to develop strategies to capitalize on these opportunities. 

FactWise offers spend analysis, holistic supplier analytics, and team analytics to help procurement category managers be more effective in their goals towards reducing costs, increasing efficiency, negotiating better, and increasing supplier diversity. Our Source-to-Pay platform is built for self-serve: individuals and teams can onboard themselves to FactWise with their data immediately at no cost, and if required, we can seamlessly integrate with ERP or other systems within a couple of weeks. Our current users love the minimal interface and how it simplifies complex processes into intuitive workflows that do not require trainings, and also allows easy customizations on the go. A full, integrated suite of procurement products offered at a fraction of the cost of its competitors, FactWise is committed to creating a truly distinctive procurement platform that delights users and provides sustainable positive impact to the organizations we serve. 

About the Author

Stawan is the founder and CEO of FactWise. Before founding FactWise, Stawan was the NA TMT-Procurement Leader at McKinsey. Passionate about procurement, Stawan has 15 years’ experience in enabling clients of all sizes to achieve business impact via procurement.


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