BCC research reveals firms to raise prices as inflation fears grow

Five years ago, supply chain management wasn’t an issue that would’ve sparked much interest or debate beyond those involved directly in its delivery. Now, it’s a different story. The issue has grown from affecting availability of goods, to now directly impacting the customer’s wallet. As expected, supply chain issues have continued into 2022, as such, companies must be proactive in preparing for ongoing disruption and minimising the risk of further price inflation.

Ultimately, you cannot fix what you cannot predict or measure. Therefore, supply chain visibility will be an essential facet for adapting to an environment where change is inevitable. Supply chain leaders must utilise the high-quality data that’s available today in order to urgently respond to delays and prepare for ongoing disruption. Information sharing between parties in the supply chain is crucial, but high-quality, reliable data will be the foundation of frictionless trading – even more so in times of crisis across the supply chain.

 

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