How to Save Money through Suppliers without Sacrificing the Value they bring
With inflation hampering product sales and price rises, manufacturers have profits to protect. Many will react, as the sector has done for decades, by beating down suppliers on price. All this does though is bounce the problem around the supply chain. It drains suppliers of the resources they need to deliver vital enhancements—including supplies, information, and ideas—without which, brands are less competitive.
So, how can they protect profits without being vulnerable to significant risks and open to new opportunities?
Costas Xyloyiannis, CEO of supplier experience platform HICX, says brands can keep a competitive edge despite inflation. “Let’s help suppliers help us,” he says. Here’s how…