Businesses and logistics providers will continue to grapple with rising consumer prices as well as the Ukraine-Russia conflict, according to officials from top local firms.
Officials from companies, including Ace Hardware and United States-based multinational conglomerate Honeywell, and the Procurement and Supply Institute of Asia spoke about the impact of geopolitical tensions on the supply chain during a forum held last March 15 in Taguig City.
“If you look at strategic sourcing, that’s also going to be quite a problem because we cannot readily shift to alternative sources when you have something happening immediately,” Gamboa said. “So if you have an artificial shortage of supply…what happens to your supply chain? You will have some scarcity and thereafter you see an increase in prices which I think all of us have experienced since last year,” he added.
Prior to the war in Ukraine and Russia and the pandemic, Santiago said companies can expect certain deliveries in 30 days.
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