PDF] Is Retail Category Management Worth the Effort (and Does a Category  Captain Help or Hinder)? - Semantic Scholar

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Harris in 1997. The approach was intended to enhance upon strategic sourcing, which missed out on key components for making the most of performance. Harris's job management method is structured, quantifiable and drives enhancements throughout an organization's processes. According to Harris, you can best implement and maintain classification management with the following 8-Step Cycle: Set the criteria for your category based on your consumers' habits.

This is where you watch on the classification in relation to your business's broader portfolio. What is its overall importance and impact? You can think of this from a sales viewpoint in addition to from a volume standpoint. Assess how  This Website  is carrying out from different angles. Performance at the seller, within the market, compared to other categories, and so on.

Any business initiative must have clear goals laid out to drive success. Your merchandising strategy is no exception. Specify your criteria and goals to set the classification's KPIs. Sales, volume, market share, and selection are excellent places to start. Based on your defined objectives, gather your idea leaders and create your techniques.

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You should continue to keep your eye on how you can: grow market share, increase sales, boost foot traffic (and other specialized goals for your industry). This is where you must get into the nuts and bolts of how you can put your strategies into motion. Set clear and repeatable actions to improve category methods.

When you've set your techniques and recognized your methods, you'll desire a tangible strategy for your group. Produce a written strategy to solidify techniques, category function, techniques and objectives. This isn't a one-time treatment. It's created to be a cycle for you to constantly review and tweak your procedure. In this last step, determine your results and customize the procedure where you can as you cycle back through the steps.

Before category management, when buyers and sellers worked together to produce an item, the result was chaotic causing hold-ups, waste and sub-optimal output. Think about our sporting items example earlier; you don't want to leave the ball in the provider's court to set costs and lessen your margin on a specific basis.