Inflation: How we can help suppliers to help us
With inflation slowing sales and blocking price rises, manufacturers are feeling the pinch. Many will react, as the sector has done for decades, by beating down suppliers on price.
All this does though is bounce the problem around the supply chain. It drains suppliers of the resources they need to deliver vital enhancements—including supplies, information, and ideas—without which, brands are less competitive.
Costas Xyloyiannis, CEO of the supplier experience platform HICX, says if brands focus on collaborating with suppliers, building good data and removing friction, then they most certainly can.
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