Brushware Magazine: Inflation Busters: Protecting Profits as Costs Rise
"Proactively managing cash flow is critical right now," says Lisa Anderson, president of LMA Consulting Group, Claremont, Calif. This can be done by running periodic forecasts.
"Proactively managing cash flow is critical right now," says Lisa Anderson, president of LMA Consulting Group, Claremont, Calif. This can be done by running periodic forecasts.
Our clients continue to experience an unprecedented level of volatility and complexity. The common themes include: Continued supply chain disruptions: From computer chips to commodities to everyday components/ materials, clients continue to experience shortages and/or extended lead times. Continued challenges in finding people: Whether you are looking for [...]
Lisa Anderson, manufacturing and supply chain expert and president of LMA Consulting Group discusses practical insights on how to unlock operating capital and fuel growth.
There is no doubt we are struggling with volatility in the supply chain. Inflation is the hot topic on one hand with rising prices, difficulty in finding people, wage inflation and much more.
Lisa Anderson, manufacturing and supply chain expert and president of LMA Consulting Group states there are operational and supply chain priorities required to be ready to absorb additional sales". One of the most important components is to have planning and scheduling processes required to be ready to absorb capabilities.
Manufacturers are experiencing continued inflationary pressures threatening customer service and profit margins with record-breaking price increases and lack of material availability. To add fuel to the fire, they are also starting to worry about preparing for a potential recession.
"Having relationship with suppliers is critical. We often advise clients to use multiple suppliers to ensure supply. Using secondary suppliers can be expensive" comments Lisa Anderson a manufacturing a supply chain consultant and President of LMA Consulting Group Inc.
We are in a time period that will prove more important than almost any other because more companies will surge past the competition during these turbulent times, propelling them forward for years to come. Executives will have a choice - push the pedal to the floor and achieve success or be tentative and pull on the parking brake and slowly retreat and decline.
Because we live in a global, supply chain disrupted world amidst record-breaking prices for food, commodities and oil (and all products dependent on these industries), not only are businesses looking to navigate inflationary pressures, but also deflationary pressures. Inflation can lead to deflation as consumers panic and demand softens.
"Our most successful clients are not hiding under a rock and maintaining status quo during these inflationary times," points out Lisa Anderson, president of Claremont, CA-based LMA Consulting Group, Inc. and manufacturing expert known for creating supply chain resiliency."