Ep 32: Mitigating Price Increase Requests feat. Philip Ideson

The top news stories each day are like a potpourri of procurement challenges: labor shortages, supply chain disruptions, and material cost increases abound. Each one of them means one thing - the next time a supplier emails or calls, they may be reaching out to say that they are going to have to increase their prices as a result. But what is procurement to do?

In this episode of The Sourcing Hero podcast, Host Kelly Barner is joined by Philip Ideson. Phil is the Founder and Managing Director of Art of Procurement, a procurement consulting, membership, and content company that provides CPOs and their teams the resources they need to enable company growth. He has also worked at both Procurian & Accenture and has experience across the entire Indirect and Direct procurement value chain.

In this conversation, Phil shares his perspective on:

• How procurement should respond to a supplier that reached out with a request for a price increase
• What options procurement has for mitigating the increase once it has been determined to be a valid request from the supplier
• If procurement needs to worry about getting TOO GOOD at protecting the bottom line in challenging times