The Panthers waived injured cornerback Marcus Walker on Monday to make room on the 80-man roster.
DeAngelo Williams and Josh Vaughan had been Carolina's only two healthy running backs. Jonathan Stewart hasn't been cleared to practice following offseason Achilles' tendon surgery, while Mike Goodson and Tyrell Sutton are sidelined with injuries suffered in training camp.
The undrafted Savage played mostly special teams in 13 games over two seasons with Kansas City, rushing just 25 times for 98 yards. He was released in March.
The Panthers reached an injury settlement with Walker, who hurt his calf Saturday.