Inflation goes in cycles and if you have been in supply chain for a while then you have seen the trends come and go. I can remember even seeing interest rates of 20% and people were worried about the rates going higher.

I have also seen where the price of gas was so expensive that companies were adding a fuel surcharge.

So what can you do?

Last week, Kinetic sponsored a Supply Chain Canada session on Dealing With Price Fluctuations. A recording was done so you can always download to learn more.

It also helps that I have seen a lot of changes over the years.

For years, I always had a price escalation clause in my contracts that referenced the CPI or Consumer Price Index.

There is an even better way of tracking what is happening in the market. Take a look at PMI. The Purchasing Managers Index (PMI) was funded by The Canadian Purchasing Research Fund which evolved into the Canadian Purchasing Research Foundation; a charity organization and now managed by the Ivey School of Business.

https://iveypmi.uwo.ca/#:~:text=The%20Ivey%20Purchasing%20Managers%20Index,by%20the%20Ivey%20Business%20School

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