Overcoming the Impact of Global Inflation and Labor Market Slowdown

The global financial crisis has deepened due to a series of supply chain bottlenecks coupled with an increase in inflationary pressures, causing the consumer price index (CPI) to increase by 5.9% YoY. Additionally, supply chains around the world are feeling the heat due to conflicting supply and demand pressures that are stemming from high-interest rates. The global labor market has tightened amid mass layoffs, with nearly 84,000+ employees laid off from 267 tech companies and the automotive industry opting for downsizing as they transition to electric vehicles. While experts forecast a slowdown in the labor market and a fall in global growth from 34% in 2022 to 29% in 2023, do you know what challenges lay ahead for your supply chain?