With high material prices, ongoing supply chain issues and inflated shipping costs, global sourcing in 2022 is looking much like 2021. The big concerns for 2022 are high inflation and the impact on consumer spending, along with disruptions to supply chains which threaten the supply of consumer products.
Below are some highlights from the Q1 2022 Retail Sourcing Report.
Easing of Covid restrictions across the globe has opened up consumer spending and put factories back to work, scrambling to fill orders.
Supply chain bottlenecks, raw material shortages and tight shipping capacity has resulted in long delays in order fulfilment and gaps in retail shelves.
While wages in low-cost sourcing countries are on the rise, they still lag behind inflation.
In response to high inflation, the US and the EU central banks will raise interest rates in increments through 2022.
The Sourcing Report, sponsored by CBX, aims to keep you ahead of the curve by providing facts, insight and analysis on issues impacting retail global sourcing.