NEW industry data reveals that manufacturers are holding double the amount of stock compared to pre-pandemic levels as the world’s supply chain woes take on a new form.
A recent report shows businesses forced to stockpile huge quantities of goods as they navigate delays and shortages, against a background of rising inflation.
Overall, stock on hand levels for manufacturers in the UK jumped by 99.7%, from Q3 2019 to Q3 2022. Also, manufacturers are paying 10.24% more for their goods now compared to the start of 2022.
“What started as a supply chain crisis appears to have evolved into an inventory crisis at the individual business level,” said Gareth Berry, CEO of Unleashed. “Yes we’ve seen shipping times and prices ease, but that’s at the expense of firms who are forced to hold far more stock just to stay operational.”
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