Rising cost of raw materials — forging strategies to address its impact

Tue, 19 Mar 2024 11:44:14 +0000

Volatile and unstable global markets have widespread implications for manufacturing organizations. From rising energy costs to unexpected fluctuations in raw material costs, unforeseen obstacles are destabilizing supply chains and making it difficult for manufacturers to remain in the black. With supplies of many raw materials becoming harder to secure, commodity price volatility may not be just a temporary phenomenon, and it is up to manufacturers to either absorb additional costs, find new ways to mitigate the expenses, or pass price increases along to customers who are already reluctant to spend.