If the monopoly supplier increase their product cost by 40% then as a procurement manager what are we do?

A) If your companty has deep pockets, then creat a new supplier on the steps of backward intigration.

B) If your company has a long standing reputation and have a continious order book or new projects in pipe line, then creat a presentation with growth prospect of both company and stake holders and then meet and discuss it out with the supplier, as he beingn one of the passive growth partner will definately understand the importance of the lucarative oppurtunity and will re-negotiate a favourable term.

C) If your company is small, then join forces with equals  and as a group re-negotiate, as the reason is simple in a group your combined buying power will out-shine the monopoly.