News of supply shortages and price increases seem to be everywhere. For consumers, that means their dollar doesn’t buy quite as much as it used to, but for procurement, it means every supplier email or call is likely to be a request for a price increase. What is procurement to do?
In this week’s Art of Procurement podcast, Phil shares his perspective on:
- How procurement should respond to a supplier that reached out with a request for a price increase.
- What options procurement has for mitigating the increase once it has been determined to be a valid request from the supplier.
- If procurement needs to worry about getting TOO GOOD at protecting the bottom line in challenging times.
