Rising Prices and the Impact on Businesses: How to Cut Costs and Stay Competitive?

From a rise in manufacturing and sourcing costs to uptick in transportation fees, you’ll surely be feeling the pinch of increasing costs of doing business.

The Rising Cost of Products

  Let’s face it; the rise in prices of products has been a bit like watching a balloon slowly inflate over the last few years. In fact, according to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) increased 6.2% over the 12 months ending in October 2021, which is the largest 12-month increase since November 1990. The situation isn’t different in the UK. Transportation Troubles One of the primary reasons behind this increase in prices is the rise in transportation costs. The cost of shipping has gone up due to a shortage of containers, skyrocketing fuel prices, and labor shortages. Additionally, transportation delays have become more common, resulting in longer lead times for products to reach customers. This has made it challenging for businesses to maintain their delivery schedules and fulfill customer orders on time. Moreover, the pandemic had caused delays and cancellations in air cargo services, which has further added to the transportation challenge. Businesses that rely on air cargo are still facing significant difficulties in transporting their products. All these factors force businesses to charge more from customers, leading them to competitors while leaving next to nothing in terms of profit. As a result, they try to control costs by laying people off or cutting marketing budgets, but these tactics are not always effective. The good news is that there are solutions out there that can help you find quality products at better prices and navigate through your transportation challenges. So, what’s the way out?

LeoSolve – Solution to All Your Problems

  Fortunately, there are procurement and sourcing companies like LeoSolve that can help businesses like yours source high-quality products and materials at the best possible prices. But how?

·        Vast Supplier Network

  We have a vast network of over 75,000 suppliers and years of experience in working for clients, ranging from start-ups to multinationals, in a range of industries. We can quickly and easily source premium-quality products and materials at the best prices, without you having to do a single thing.

·        Logistics Solutions and End-to-End Support

  Our platform also offers logistics solutions, ensuring that businesses can transport their products from one place to another without any difficulty. Moreover, LeoSolve also provides businesses with end-to-end support, ensuring that their purchasing and transportation process is smooth and hassle-free.

·        User-Friendly Platform with Real-Time Pricing Information

  Lastly, if you’re skeptical of not being able to figure things out, worry not! LeoSolve has a user-friendly interface that allows businesses to search for products and suppliers easily. Our platform also provides businesses like yours with real-time pricing information, enabling them to make informed decisions. Parting Thoughts   The rise in the cost of products and difficulty in transportation has been a significant challenge for businesses in recent years – there’s no doubt it. But worry not. You don’t have to spend more than necessary, settle for lower quality, or deal with endless logistics issues anymore. By partnering with us, you can enjoy huge cost savings and say goodbye to all the challenges you’re currently facing. Are you interested in having us search for reliable suppliers and profitable products for your business? Schedule a free consultation today!