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.
NxtGen Nexus: The Importance of Customer Service "Employees follow people, not companies. Are you investing in leaders, and are your leaders leading?" comments Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc.
CLAREMONT, CALIFORNIA – June 22, 2022 – Manufacturing and Supply Chain Expert Lisa Anderson, MBA, CSCP, CLTD, President of LMA Consulting Group Inc., has introduced Supply Chain Chats, a video and interview series that will provide insights, ideas and innovations to address current supply chain issues. LMA Consulting Group [...]
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.
Improved supplier data will give your supply chain the competitive advantage to drive customer loyalty.
Since the pandemic, it has been a constant battle to ensure material availability, let alone to proactively manage cost and service. Even the most proactive and successful clients have experienced brief shortages of key materials and extended lead-times. The rest have been plagued with these issues.
As our long-term newsletter subscribers and ProVisors (trusted advisor network) colleagues are aware, we have used the Strongest Link in Your Supply Chain” as our tag line for a decade or longer. However, it has never been more relevant than it is today! As has been proven through the pandemic and continuing supply chain disruptions, any company’s performance is only as strong as the weakest link in their supply chain.
The latest in a long series of supply chain disruptions has impacted the baby formula industry. 40-50% of the shelves across the U.S. are out of stock for this critical item!
According to the Wall Street Journal, consumer prices are the highest in 40 years. It certainly doesn’t seem to be letting up. In fact, with the Russia-Ukraine war, there will be continued inflationary pressures on products related to oil, gas, commodity, and food at a minimum.
If there is one thing in common with every client (big or small) in the current business environment which is characterized by significant volatility and uncertainty, it is the increased level of complexity of supply chains. As the old saying goes, you are only as strong as your weakest link in your supply chain!
