Category Management Services (CMS) is an official business definition that refers to the process of strategically managing the procurement of goods and services. It involves a comprehensive approach to understanding the needs of the business, analyzing the market, and managing the procurement process. The goal of CMS is to maximize the value of the goods and services purchased, while minimizing costs. This is achieved by creating a strategic plan that outlines the objectives, strategies, and tactics for the procurement process. This plan should include an analysis of the market, a review of the current and future needs of the business, and a review of the supplier base. Additionally, the plan should also include an evaluation of the cost-effectiveness of the goods and services purchased, and a review of the supplier’s performance. By implementing a comprehensive CMS strategy, businesses can ensure that they are getting the best value for their money, while also reducing costs and increasing efficiency.
