Technology
Welcome to our podcast where we will discuss how to mitigate inflation procurement risks with intelligent automation.
Inflation can have a significant impact on procurement costs, which can ultimately affect a company's bottom line.
The US Manufacturing Purchasing Managers’ Index(PMI) rose to a record high of 64.7% indicating an increase in prices of raw materials and finished goods. By understanding how inflation can affect the procurement process, businesses can make better decisions regarding their buying decisions and budgeting processes.
By automating procurement processes, companies can mitigate these risks and ensure that their procurement costs remain under control which helps them hedge against inflationary pressures.