_____ is the process of developing insights into stakeholder requirements, comparing these to external industry intelligence, supply base capabilities and operational risks, and developing a strategy to align internal requirements with external supply market conditions.
A)Spend analysis
B)Cost management
C)Contract management
D)Category management
E)Procure-to-pay

Question

Quizplus · Accepted Answer

Category management involves developing a strategic approach to managing a specific category of spend. This includes analyzing stakeholder requirements and external market conditions to develop a sourcing strategy that meets internal needs while taking into account external supply market conditions. Spend analysis, cost management, contract management, and procure-to-pay are all important components of category management, but they do not encompass the entire process.

_____ Is the Process of Developing Insights into Stakeholder Requirements