Whilst supply issues have arguably been in the public consciousness for some time, particularly in relation to the ongoing uncertainties surrounding Brexit, the last few weeks represent the first time that many consumers have come into direct contact with shortages. Combined with the impact of increasing energy prices, the cost of living is rising fast.
However, relatively little has been said about the impact of the supply chain crisis on UK businesses. Organisations are likely to not only feel the pinch themselves but then transfer these costs onto other businesses or consumers that they supply, leading to a chain reaction of delays and costs.
Savanta surveyed C.1000 UK businesses of varying sizes and industries as part of their UK Business tracker. The results indicated that supply chain issues are currently the 5th most common challenge that businesses are facing, with 20% of SMEs currently affected, compared to just 12% back in July. The situation is particularly acute for the retail/wholesale and industrial sectors, with 32% and 31% respectively experiencing supply chain issues. For the industrial sector, it’s currently the most common challenge faced.
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