Practical steps to mitigate price inflation

Inflation has started to fall!

Oh, that’s just great news (my tone is laden with sarcasm – it really doesn’t come across in the written word though.)

It’s still in double-digits in the UK though, and stubbornly high in vast swathes of the world.

In practical terms, that means strained buyer/seller relationships look set to continue for a while longer yet, as both parties try to protect their businesses from the inflationary impact.

The graphic below takes a buyer’s perspective as to how a buying organisation should respond to a price increase request, the steps to follow and the options available.

If you receive a price increase request – don’t worry, all is not lost!

If handled in the right way, not only can your relationship with the supplier remain intact, but this moment could even present some opportunities you’d previously not explored.

Please get in touch if you’d like to find out more about handling price increases without putting your business at risk.