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As this period of inflation stretches on, businesses must be prepared for cost increases related to the procurement of raw materials, finished products, and more.
As this period of inflation stretches on, businesses must be prepared for cost increases related to the procurement of raw materials, finished products, and more. The consequences of these climbing costs often translate to excess or surplus inventory, mounting storage fees, smaller margins, and lowered revenue for your product-based brand. With that in mind, the challenge becomes accepting the reality of inflation while doing best to minimize its impact. Combating inflation begins with understanding how it affects the specific business, and then taking steps that'll help you survive these trying times. Tell about your own observation about the issue. How does it impact the supply chain? How businesses can minimize its impact
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