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That way, they can explore ways to mitigate that risk, such as alternative suppliers and becoming more self-reliant. It is important that companies map out their entire supply chains and identify any exposure to supply and inflation risks. This means reducing exposure to volatile market pricing of commodities, as well as building protective measures into supply chains to deal with shortages and rising logistical costs. To combat this and stay afloat, companies need to improve their resilience in any way that they can. Many industries are still plagued by supply chain issues that emerged during the global shutdowns caused by Covid-19 and have only got worse due to the war in Ukraine. We are told by experts to expect ongoing inflation and subdued economic growth. The economic outlook for most of the world doesn’t look great in 2023.
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