Procurement professionals across the globe are being catapulted to the front lines of the battle for cost-containment, remaining competitive in their respective industries, and in some cases saving operations from going under, says AArete’s Ken Ballard and Tyler Higgins. They share some of the factors at play, including strategies to combat inflation and mitigate risks.
Supply chain and procurement professionals are now tasked with the near-impossible: fighting off upstream price increases and obtaining year-over-year cost savings in today’s inflationary environment. For the first time in years, suppliers are in control and cost savings are hard to find. Where does one start? Are cost savings even possible in today’s world? Is cost avoidance the only hope moving forward?
Click here to read more about cost containment strategies to consider upon battling inflation.
Originally published in Future of Sourcing, a SIG Publication.