{"id":3589,"date":"2017-09-06T01:42:04","date_gmt":"2017-09-06T01:42:04","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2017\/09\/06\/what-can-chicken-wing-procurement-teach-you\/"},"modified":"2023-06-23T07:28:23","modified_gmt":"2023-06-23T11:28:23","slug":"can-chicken-wing-procurement-teach","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/can-chicken-wing-procurement-teach\/","title":{"rendered":"What Can Chicken Wing Procurement Teach You?"},"content":{"rendered":"

I recently came across a Pittsburgh Post-Gazette article entitled \u201cSoaring chicken wing pricing making Pittsburgh bars, restaurants sweat.\u201d<\/p>\n

The article detailed how the prices of chicken wings have gone up \u2013 in one example, more than quadrupling over a 10-year period. \u00a0It went on to discuss how the price of this purchased product influenced strategic decisions of the restaurants, such as raising prices to customers, switching to lower-quality inputs (that angered customers), or abandoning an attractive marketing angle (i.e., \u201c50-cent wing night\u201d).<\/p>\n

If you\u2019re reading this, you\u2019re probably a procurement professional buying for an organization much larger than a local corner bar. \u00a0But, I\u2019m sure you can see how something as seemingly simple as chicken wing procurement has high stakes just like what you buy has high stakes for your organization.<\/p>\n

So, let\u2019s say that you had a crystal ball and knew what would happen to chicken wing pricing between 2007 and 2017. \u00a0What advice would you have given to chicken wing buyers that would be general enough to apply to any procurement professional responsible for purchasing a key input with volatile pricing?<\/p>\n

I\u2019ll lay out some examples:<\/p>\n