OKR template to enhance strategic planning and cut costs in category and product management

public-lib · Published about 1 month ago

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.
  • ObjectiveEnhance strategic planning and cut costs in category and product management
  • Key ResultDevelop and implement a strategic category plan for 3 top-selling product lines
  • TaskImplement the developed plan across each product line
  • TaskIdentify the three top-selling product lines
  • TaskCreate a comprehensive strategic category plan
  • Key ResultIncrease cost efficiency by improving negotiation skills, saving 15% on supplier contracts
  • TaskEnroll in professional negotiation skills workshops
  • TaskEstablish a targeted savings goal for each contract
  • TaskNegotiate supplier contracts effectively to ensure savings
  • Key ResultImplement a new budgeting tool to decrease product development costs by 20%
  • TaskMonitor and adjust implementation for efficiency
  • TaskTrain product development team on chosen tool
  • TaskIdentify suitable budgeting tools within the market
Try in Tability

Related OKRs examples

Create more examples in our app

You can use Tability to create OKRs with AI – and keep yourself accountable 👀

Tability is a unique goal-tracking platform built to save hours at work and help teams stay on top of their goals.

Signup1 Create your workspace
Signup2 Build plans in seconds with AI
Signup3Track your progress