Knowledge quiz

It’s time to put what you’ve learned to the test, get 5 questions right to pass this unit.

Choose the correct answer.

Because category teams often fail to create a common template for strategy development.

Because there is a lack of diversity in category teams.

Because category strategies require too much digital collaboration.

Because category plans often need to be executed by individuals outside of the procurement department.

There are two correct answers.

A prerequisite for category management is clean and enriched spend data.

Category management and sourcing essentially mean the same thing.

Category strategies have little or no impact on sourcing and contracting activities.

Companies typically use spreadsheets and presentations to create and document category strategies.

Choose the correct answer.

To minimize the influence of stakeholders in the category management process.

To ensure that category goals have no impact on overall business objectives.

To optimize profitability and reduce the need for category teams.

To contribute to achieving corporate goals and responding to market changes effectively.

Choose the correct answer.

Inconsistent data collection, lack of vendor masters, and over-reliance on offline tools.

Ineffective Project Management

The absence of corporate goals, limited stakeholder involvement, and outdated procurement software.

A lack of clear objectives, insufficient training, and resistance to change.

Choose the correct answer.

A key part of the category managers' tasks is generating ideas on how to achieve the goals.

All categories use the same tactics to achieve the goals.

Supplier selection criteria and KPIs should not be impacted by goals.

Procurement, in general, does not contribute to the company's overall goals.

Choose the correct answer.

It eliminates the need for category managers to track and monitor progress manually.

It requires re-keying data and manual progress tracking for category managers.

It increases the need for jumping between solutions for category managers.

It separates the strategy and execution phases for category managers.