b'BUSINESS MANAGEMENT CSIA 29futureincreasesandshortages.ThiscanbeFinally, dig deeper into the reasons for suppliers done by maintaining close contacts with vendors.price hikes. Are goods and delivery cost increases Workcloselywithsuppliersanddevelopgoodinlinewithinflation?posesBeaver.Orare relationships with them, said McQuaig. What dosuppliers trying to pad their own margins a little bit, they see ahead in terms of product availability andjust because they see inflation as an opportunity? price? That sometimes happens.Theresanotheradvantagetoclosecontact,Trimming InventorynotesMcQuaig.ThesuppliersmaygiveyouaBefore inflation appeared on the horizon, businesses little more favorable treatment. For example, youresponded to supply chain disruptions by purchasing might leverage any significant volume youre doingand holding whatever they could get their hands on. by asking the vendor to hold inventory you wouldAny step to avoid running out of product seemed normally keep in stock. You can also ask if a pricelike a good thing.commitment now will remain firm for the duration of the season. Timeshavechanged.Nowtoomanywarehouse goods can tie up cash just at a time when company Anothercost-savingmoveistopursuelesstreasuriesneedmoreliquidity.Businessesneed expensive alternatives to pricier goods and services.to be thinking about how to manage their inventory Domestic inflation has been higher than in mostbetter,saidAnderson.Theyneedtomakethe of the world, said Conerly. Some businesses areright decisions on what, when, how, and where to shifting sourcing to other countries. buy it, as well as where to store it. And they need continuedpg.30Thank you for 40 years of partnership.Since 1980, Proto Corporation has been working hard to earn the trust of our customers, manufacture the highest quality products and deliver the industrys best service. Thank you for your continued support.(800) 875-7768|ProtoCorporation.com csiaonline.org'