HOW PROCUREMENT SHOULD APPROACH PRICE INCREASES FROM SUPPLIERS DURING A TIME OF RISING INFLATION

This thesis will discuss how procurement should approach price increases from suppliers during at time of rising inflation. It explains the process that should be taken by a procurement associate and the different routes. The thesis mainly focuses on how procurement needs to be adaptable to changes during inflation since it can cause many aspects of the business to be volatile. This paper also leaves room for future research to analyze the optimal time to negotiate with a supplier after a downward trend.