Small firms are bearing the brunt of supply chain snarls and rising prices, forcing many to tap cash reserves or take on debt to survive. Large companies have the heft to navigate pressures; small companies don’t.
Ethel’s Baking Company struggled to get chocolate, butter and other items when supplies ran short while big food companies got what they needed. Superfit Hero, an activewear maker, couldn’t get fabric it needed since larger brands snapped up specialty fabric from Taiwan making it hard for smaller firms to compete. Small firms face higher costs, lengthy delays and back-dated surcharges they can’t pass along to customers. Most purchase on the spot market or from distributors who pass along cost increases from major suppliers.
New times require new solutions. MOSIMTEC simulation modeling can help. Explore new ways of doing things – purchasing, contracting, hiring, manufacturing, supply chains, inventory management and more – and do it virtually and cost effectively. MOSIMTEC industrial engineers/data scientists can help you turn the tables on the big guys by using powerful Digital Twin technology to shine a light on your business, identify problems and explore solutions. We can help you survive, thrive and futureproof your business.
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Read more here: https://www.wsj.com/articles/worried-inflation-suppy-chains-small-business-11645463508