There are some times when procurement is asked to step up and truly prove its value to an organization. Times such as the global shipping disruption caused by the Suez Canal blockage, the unrelenting PPE shortage during the pandemic, and now: fast-rising inflation.
At present, companies are faced with a triple threat — increasing commodity prices, supply disruption, and ongoing labor shortages. Luckily, there are levers that procurement can pull to help companies mitigate the impacts of inflation.
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