Procure4
Procure4 are a People Powered Procurement Consultancy, formed in 2003, offering procurement services that optimise supply chains and reduce costs for businesses and organisations.
Our unique people culture allows us to engage businesses, and their stakeholders, to drive the best outcomes and sustainable value.
These are our tips to deal with inflation.
You don’t beat it; you lessen the impact. Think about the underlying causes and take a holistic (and organised) approach
Put contracts on file and set up prompts (ideally via a database) to address them before they expire. Get on the front foot!
Understand price components – it’s rarely as simple as the price increase that is being asked for e.g. how is it built? How has it evolved over the years?
Benchmark and negotiate to mitigate the impact. 7% inflation could become a 5% reduction if you were paying over the market price originally
This isn’t simple so please speak to Procure4’s experts and we can help you with all of the above as the savings always outweigh the costs
