Software for catalog management is essential if you operate an online store and wish to amp up sales. This application improves customer experience, increases sales, simplifies inventory management, and helps showcase your products for small and large retailers.
Managers may monitor and schedule their sourcing in the medium to long term with the help of category management tools. They are a tactical tool for managing several supply chain and procurement categories.
These solutions increase strategies’ effectiveness, supplier relationships, and category performance. They also help raise sales by developing and disseminating product information, such as prices, photos, and descriptions.
Here’s a summary of the best category management software.
Top Features to Look for in a Category Management Tool
Businesses and vendors wanting to maximize their product assortments, increase customer shopping experiences, and manage their inventory better will need a category management platform.
The following are some essential elements to consider when assessing category management tools:
#1. Data Insights and Analytics
Strong ability to analyze data and spot patterns and customer preferences.
#2. Arrangement Scheduling
Instruments to define and improve product assortments through data and performance measurements.
#3. Inventory Control
Features for inventory optimization that lower stockouts and overstock. Also, stock level monitoring and hints for replenishment.
#4. Space Scheduling
Creating and optimizing planograms to increase shelf space efficiency.
#5. Forecasting Demand
Using predictive analytics to foresee consumer demand and forecast using trends and seasons to maximize sales and inventories.
#6. Management of Price and Promotion
Dynamic pricing tools for designing promotions and pricing schemes to respond to shifts in the market.
#7. Customer Division
These are tools to divide your client base so you can customize offers and assortments to deliver a unique shopping experience.
#8. Tools for Good Workflow
Tools for work delegation, approval processes, and team collaboration to exchange updates and insights.
#9. Machine Learning and AI
Enriched machine learning and AI power for automation and predictive analytics.
Picking the best tool for your catalogs can be confusing, but you don’t have to worry! We have rounded a list of the best catalog management programs to make your search easier.
Cirtuo
Cirtuo is an AI-powered category management application that makes developing category strategies more efficient. It guides category managers through the process with expertise, speeding up the formulation of strategies.
Teams can quickly implement their plans utilizing Cirtuo, delivering results beyond simple buying for the entire organization. This AI-driven software provides logical suggestions for the best category tactics to lower expenses, increase value, and lower risks.
Features:
- Create custom strategies with ease, adding new viewpoints from thorough research.
- Quickly converge procurement data with technologies that follow best practices.
- Get access to an ample commodities database that comprises historical data-encompassing statistics.
- Technical analysis, currency conversion for price patterns, and other tools are included.
Pros:
- Tracking for commodity hedging.
- Supplier review of ratings.
- KPIs for your procurement-related tasks.
Cirtuo has limited integration with other applications.
SAP Ariba
SAP Ariba’s Category Management software solution digitizes the development, implementation, and monitoring of category strategies to improve and accelerate the category management process in procurement.
Work with advisers, technical experts, and industry specialists to expedite the amalgamation of your SAP solution and optimize returns. This expert software will assist you at every step of the way.
Features:
- Utilize the actionable information provided by the system to increase savings.
- Give consumers the tools to create thorough 360-degree profiles for every category.
- Employ enriched and classified data for real-time insight into category spending and suppliers.
- Operate specialized technologies to develop procurement plans based on the Kraljic matrix and divide categories.
Pros:
- Increase cost savings
- Built-In Security attributes
- Security for cloud applications.
SAP Ariba reports could be improved.
Jaggaer
Jaggaer’s category management software aids you in maximizing value and establishing procurement as a key strategic partner. Ensure a measurable return on investment by developing, observing, and improving your plans for the digital procurement area.
Utilizing the Kraljic matrix, Porter’s five forces, and SWOT analysis, employ the inbuilt modeling capabilities in the software to pinpoint the best purchasing strategy. Utilize dashboards and reports to reckon and act upon insights effectively.
Features:
- The continuous identification of advancement opportunities is made more handy by the exhaustive data insights found in strategy frameworks.
- Include ingenious sourcing techniques in your category plans.
- Secure data sharing is provided via role-specific access, which protects confidential data.
- Identify the appropriate mechanisms to implement these tactics and develop techniques suited to particular categories and new trends.
Pros:
- Punch-out capabilities for vendors.
- A logical user interface makes transaction entry simple.
- Fast data access.
Jaggaer could improve analytics options.
GEP SMART
GEP SMART category management software extends your ability to create value and improve organizational engagement by covering opportunity analysis and the whole source-to-pay cycle.
GEP SMART’s category workbench is the primary point of contact for all category-related questions and information. It provides the visibility, support for decision-making, and strategic planning foundation required for optimal performance in sourcing, purchasing, contract management, and supplier oversight, among other procurement processes.
Features:
- Create strategic strategies and move them through to implementation quickly to secure observable savings.
- Utilize a single dashboard to monitor savings across projects, sourcing activities, geographies, etc.
- Track and assess results against predetermined benchmarks to simplify prompt remedial action when necessary.
- Exhort corporate executives and stakeholders to deliver thoughts to gain support and obtain the required permissions.
Pros:
- Reminders for events and auto alerts.
- Dashboard for quick reference.
- Simple acquisition and requisitioning.
GEP SMART Loading speeds are a little slower.
Simfoni
Simfoni category management software combines novel technology with AI-enabled content and overpowering expertise to automate and simplify category management.
It teams with industry-leading consulting firm Kearney to develop a new composable tail spend management system and service delivery methodology. Your direct and indirect spending is precisely identified and questioned by its AI-powered spend analytics solution.
Features:
- You obtain visibility across all categories and actionable information to find new prospects and hidden savings.
- All direct and indirect expense data is correctly organized and analyzed.
- Its expenditure Automation solution includes embedded sourcing, content, and payments to help you reap the benefits of proper expenditure management.
- Procurement teams can save money with its eSourcing techniques.
Pros:
- Control Supplier Variety.
- Boost the Category Management System.
- Decrease Maverick’s Outlay.
In Simfoni, some items were placed in the wrong categories.
Dotactiv
Dotactiv provides specialized account guidance and category management software that is specially designed to satisfy the demands of suppliers and retailers.
This software customizes conversation points and presentations through internal expert consultation to verify that they fit your company’s goals, interests, and contextual quirks.
Features:
- Excellent software and unparalleled knowledge enable quick implementation of data-driven category optimization.
- Allows for the most possible sales potential by maximizing shelf space.
- Feel free to add more elements or suggest any changes.
- They set up a unique, customized advice session to provide recommended ideas.
Pros:
- Limit the increase in inventory levels.
- Boost the profitability of the category.
- Make visually appealing displays.
In Dotactiv, user and group productivity metrics need to be defined with more precision.
Hivery
With a focus on simulation and optimization solutions, Hivery is at the forefront of sophisticated category management software. As your AI copilot, Hivery Curate accelerates the path to profit by promptly delivering customized analyses, strategy models, and unique evaluations to the retail environment.
Find the possibilities of advanced analytics utilizing mathematical models, machine learning, and ample store-level data. Using accurate data, Hivery can offer ideas that speed up scenario planning and maximize assortment and space for each unique store.
Features:
- Alters store-level data into practical methods that uncover hidden shopper insights and garner industry recognition.
- Provides planogram development, speedy strategic category simulations, and optimization.
- Accesses hyper-local insights and simulations.
- Pinpoints expansion opportunities that were previously unreachable and provide total transparency along the process.
Pros:
- Quick retail-specific.
- Data insight at the store level.
- Simulation of strategy.
SpendEdge
Expand retail sales with SpendEdge’s category management software. Address erratic supply-side situations, use a more mighty supplier network, and implement a successful category management strategy.
Take advantage of market insights that provide detailed analysis of particular markets and industries and comprehensive supplier KPIs like order correctness and possible hazards. This allows you to decide with accuracy and maximize your return on investment.
Features:
- Preserve market leadership by offering thorough insights into the dynamics of the supplier industry and upcoming trends.
- Spend as efficiently as possible, considering both direct and indirect purchase costs.
- Locate suppliers and employ measures, negotiating techniques, and best practices for contracting.
- It is provided as an accurate, laser-focused solution ready to solve the client’s business difficulties.
Pros:
- Extensive coverage of intelligence bases by type.
- A holistic approach to optimizing spending.
- Practical supply-side optimal techniques
It faces intense competition and needs to improve profit margins.
Pinto
Pinto provides category managers with the information and resources they need to evaluate each category to the constantly changing preferences of today’s consumers.
Using insights gives you a thorough grasp of how your product line corresponds with necessary and developing preferences directly impacting consumer purchases. This makes creating carefully chosen product assortments for your target market’s present and future tastes possible.
Features:
- Utilize the thorough image and dimension data required for efficient space design.
- Use data-driven strategies to optimize inventory based on anticipated and current preferences.
- Get access to comprehensive product taxonomy and classification data.
- Employ a supply chain database that includes information about manufacturers, distributors, the origin of the goods, and more.
Pros:
- Adequate Power Space Planning
- Data-Driven Category management
Pinto must optimize the inventory.
ShouldCosting
Category management is the cornerstone for targeted procurement strategies. In today’s constantly shifting procurement landscape, rigid and inflexible category management is a disadvantage.
Adaptive Category Management (ACM) or ShouldCosting offers a solution by automatically categorizing things. Commodities, by definition, enable the buying of portfolio requirements from vendors who are similarly aligned. Automated category management remains active and adapts to the company’s actual situation.
Features:
- Automatic commodity assignment.
- Orders marked “STAY CLEAN” are automatically maintained.
- Automatic distribution of customs tariff numbers and item naming.
- Views of item structures that are very adaptable to both direct and indirect materials.
Pros:
- Automatic item naming.
- Both for direct and indirect content.
- Extremely dynamic displays of item structures.
ShouldCosting dashboard needs to be improved.
Conclusion
For large firms working with multiple suppliers in industries such as construction, manufacturing, food, chemicals, or mining, it is imperative to comprehend the multifaceted nature of category management.
Category management software becomes essential for smaller businesses with intricate supplier networks to manage day-to-day operations and provide a clear course for future growth. You may now utilize strategy and knowledge to make easier procurement decisions because you know this.
Next, check out the best inventory management software for small to enterprise businesses.