Procurement consultancy services can analyse and identify the best ways for procurement organisations to reduce the additional costs that may be incurred with suppliers.
They help organisations achieve this by employing numerous sourcing and contracting mechanisms. For instance, they may recommend having an extended pool of suppliers—instead of a few—to give organisations more options to select raw material suppliers in case of price hikes.
In some instances during inflation, your procurement consultants may even suggest partnering with a supplier to share any procurement risks in the supply chain through fixed, long-term contracts.
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