OKR template to enhance strategic planning and cut costs in category and product management
This OKR aims at enhancing the strategic planning and reducing costs in category and product management. The first objective is to develop and implement a strategic category plan for the top 3 selling product lines. The initiatives include identification of these products, creation of a comprehensive plan and its implementation across each line.
The second objective is to increase cost efficiency by improving negotiation skills so as to save 15% on supplier contracts. This will involve enrolling in professional workshops, establishing savings target for each contract and negotiating effectively to ensure savings. It's about being proactive and using effective strategies during supplier discussions.
The third objective is to reduce product development costs by 20% through the implementation of a new budgeting tool. This involves identifying suitable budgeting tools in the market, training the product development team on the selected tool, and closely monitoring and continuously adjusting the implementation process for efficiency.
This OKR is about implementing strategic initiatives to improve overall product management practice, leveraging market research and smart negotiation to cut costs, and building staff capacity to handle new tools and strategies. It's about making informed decisions that drive process improvement and enhance bottom line performance.
The second objective is to increase cost efficiency by improving negotiation skills so as to save 15% on supplier contracts. This will involve enrolling in professional workshops, establishing savings target for each contract and negotiating effectively to ensure savings. It's about being proactive and using effective strategies during supplier discussions.
The third objective is to reduce product development costs by 20% through the implementation of a new budgeting tool. This involves identifying suitable budgeting tools in the market, training the product development team on the selected tool, and closely monitoring and continuously adjusting the implementation process for efficiency.
This OKR is about implementing strategic initiatives to improve overall product management practice, leveraging market research and smart negotiation to cut costs, and building staff capacity to handle new tools and strategies. It's about making informed decisions that drive process improvement and enhance bottom line performance.
Enhance strategic planning and cut costs in category and product management
Develop and implement a strategic category plan for 3 top-selling product lines
Implement the developed plan across each product line- Identify the three top-selling product lines
- Create a comprehensive strategic category plan
- Increase cost efficiency by improving negotiation skills, saving 15% on supplier contracts
- Enroll in professional negotiation skills workshops
- Establish a targeted savings goal for each contract
- Negotiate supplier contracts effectively to ensure savings
- Implement a new budgeting tool to decrease product development costs by 20%
- Monitor and adjust implementation for efficiency
- Train product development team on chosen tool
- Identify suitable budgeting tools within the market