Sourcing and procurement functions can expect inflationary pressures in the supply chain for the long term. Taking steps now to minimize cost increases through a structured win-win approach for the supplier and buying company will help all businesses remain competitive._____By Gerald Donald

Inflation has not been an issue for procurement in decades, but that has changed. Inflation is now a reality, and it is here to stay for the long-term - which translates into supplier price increases. Some increases are justified, but some reflect suppliers taking advantage of opportunities presented by the very fact of inflation. Just because there is current inflation does not mean a....