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."
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!
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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.
Lisa Anderson, Manufacturing and Supply Chain Expert and President of LMA Consulting Group, talks about the coming months and keeping an eye on cash balance."Proactively managing cashflow is critical right now".
