Pushing Back Against Inflationary Pressures by Managing Direct Procurement

Buying the raw materials and supplies you need for production has never been more challenging. Inflation has many direct procurement buyers strangled by its tight grip, searching for creative solutions to control costs, mitigate risks, and improve their supply chain.

SourceDay, experts in direct procurement, has partnered with The Hackett Group, a supply chain research firm, to present a webinar series to share practical ideas on these three pain points: (1) inflation, (2) third-party risk management, and (3) the first mile of your supply chain.

Webinar #1 is titled: “The Impact of Inflation on Procurement and Its Value Proposition” and was held on May 31, 2022. We heard from Hackett Group principals Chris Sawchuk and Kurt Albertson, as well as practitioners Ronald Wright from KAR Global and Darlyne Freedman from Ruiz Foods. Here are some highlights of the discussion, moderated by SourceDay’s Jim Hilbert.

  • The levels of inflation that studies indicate companies are seeing across spend areas
  • The impact of the Ukrainian invasion by Russia
  • What companies are saying about primary drivers of inflation
  • The effect of raw and pack outages
  • How inflation is affecting the auto industry
  • The market as it pertains to procurement's core value proposition
  • Strategies that companies are leveraging in response to inflation
  • How to keep your team motivated with supply chain continuity issues
  • How the rising fuel costs are impacting the supply chain
  • How to deal with supplier requests on price increases

As you can see, there are many points discussed that are affecting your business – right now. We hope you’ll enjoy the expert advice offered, and that it will help you tame the direct spend beast that you’re facing.

On June 21st at 1pm CT, the next installment in the series deals with the theme: “Procurement and Its Ever Expanding Role in Managing Risk”.

Later, on August 30th at 1pm CT, the third and final discussion will show you “How to Improve The First Mile of Your Supply Chain”.

Would you like to take advantage of this opportunity to gain some direct spend wisdom? Register NOW and get in on all three episodes, including the recordings. We’ll look forward to seeing you there!

By SourceDay, www.sourceday.com

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