This is an AArete Profitability Improvement Insight

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.

About the Author

Tyler Higgins

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About the Author

Tyler has robust experience leading multi-year sourcing initiatives within Higher Education, Retail, Consumer Products, Transportation and Energy, achieving over $250M in strategic profitability improvement. He has over 10 years of sourcing experience and developing strategic solutions regarding innovation, automation, process improvements, and strategic programs integral in generating substantial strategic profitability improvement. He has completed projects in a multitude of sourcing categories including temporary labor, most facilities (material and services) areas, IT hardware and software, scientific supplies, supply chain/transportation, outsourcing and human resource benefits. Tyler holds a Bachelor of Science degree in Environmental Economics from the University of California, Berkeley, and is a published author in Internet Retailer.