Collaborating with Suppliers to Blunt the Impact of Inflation
Procurement’s priorities are driven by two separate but related sets of factors: internal business requirements and external market conditions.
Inflation is currently running at a four-decade high. It is also systemic and likely to be sustained for some time, potentially leading several countries into recession. As a result, procurement will have to manage budgetary constraints and supplier performance at the same time - potentially by leaning on one to solve the other.
In this paper, we look at some of the challenges resulting from inflationary conditions and how working collaboratively with suppliers may open the door to operational efficiency and greater control over the supply chain.
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