Vendor Category Management in procurement is an engaging process for managing the relationships between buyers and suppliers to identify and realize cost savings, drive value, and ensure cost efficiencies. By proactively analyzing demand, supply chain dynamics, and market trends, vendors can look beyond traditional negotiation strategies to drive more strategic ways of doing business with suppliers. This allows companies to maximize their purchasing power, reduce costs, and optimize supplier categories based on price, quality, availability, delivery performance, and other essential criteria.