October 2022
Intermediate to advanced
240 pages
5h 5m
English
Content preview from Pricing with Confidence, 2nd Edition
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Introduction: Getting Used to Supply Chain and Cost Turbulence
Inflation and supply chain disruptions have emerged as perhaps the most stubborn challenges brought about by the COVID-19 pandemic and then exacerbated by world events. News reports proclaim that inflation rates are the highest in four decades. It's true. In 2022, inflation, as measured by the Consumer Price Index, showed the largest year-to-year increase since 1982, according to the U.S. Bureau of Labor Statistics' seasonally adjusted data. Contributing to inflation are supply chain bottlenecks including disruptions in intermediate goods, semiconductor shortages, shipping interruptions, and labor shortages.
The good news is that the world is getting the coronavirus under control. The unwelcome news is that inflation and supply chain disruptions spawned by the pandemic will take years to stabilize. While lockdowns and business shutdowns are relics of the past, businesses face a post-pandemic future that is filled with challenges. The consequences of these challenges are now being felt by entrepreneurs and business leaders all over the world.
No matter what service sector you do business in or what industrial sector you operate in, inflation makes it imperative that business leaders make the right strategic decisions. Inflation complicates every aspect of running a business. Left unmanaged, inflation will quickly render profitable businesses marginal and decimate the product and revenue mix that in pre-inflationary ...
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