{"id":328,"date":"2022-10-27T18:34:45","date_gmt":"2022-10-27T18:34:45","guid":{"rendered":"http:\/\/supplychaintechnology.co.uk\/?p=328"},"modified":"2022-10-27T18:35:36","modified_gmt":"2022-10-27T18:35:36","slug":"how-technology-can-mitigate-inflations-impact-on-supply-chains","status":"publish","type":"post","link":"http:\/\/www.supplychaintechnology.co.uk\/?p=328","title":{"rendered":"How Technology Can Mitigate Inflation\u2019s Impact on Supply Chains"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Inflation has been only a minor influence on the U.S. economy for decades\u2014so long, in fact, it\u2019s difficult to fathom the full impact of its return, especially in regard to supply chains.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the latest Bureau of Labor Statistics&nbsp;<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">figures<\/a>, the Consumer Price Index (CPI) has risen 8.5% over the past 12 months, the&nbsp;<a href=\"https:\/\/www.macrotrends.net\/countries\/USA\/united-states\/inflation-rate-cpi\" target=\"_blank\" rel=\"noreferrer noopener\">highest annual rate<\/a>&nbsp;since 1981. Inflationary pressures affect every aspect of life, from the price of cookies to the cost to ship a sofa. The average price for beef and veal has risen&nbsp;<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">16%<\/a>&nbsp;in the past year; gas prices, spurred by recent global events, have recently reached their highest (nominal) levels in history.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wage inflation is staging a comeback as well. After hitting nearly 15% in the early days of the COVID-19 crisis, the unemployment rate dropped to 3.6% in March. The latest Labor Department&nbsp;<a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">employment report<\/a>&nbsp;shows the average hourly pay barely rose in March and increased only 5.6% in the past year, indicating that wages haven\u2019t kept up with inflation\u2014and that the standard of living, for many people, has dropped.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.mhlnews.com\/technology-automation\/article\/21241399\/how-technology-can-mitigate-inflations-impact-on-supply-chains\">https:\/\/www.mhlnews.com\/technology-automation\/article\/21241399\/how-technology-can-mitigate-inflations-impact-on-supply-chains<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation has been only a minor influence on the U.S. economy for decades\u2014so long, in&#8230;<\/p>\n","protected":false},"author":2,"featured_media":329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5],"tags":[],"class_list":["post-328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Technology Can Mitigate Inflation\u2019s Impact on Supply Chains - Supply Chain Technology<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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