Manufacturers are dealing with substantial price increases for input materials — from glass, stainless steel, aluminum, brass to paper box and wooden pallets — and are facing shortages in some areas, according to The Institute for Supply Management's January manufacturing report released Monday. It was the eighth straight month of price increases.
Right now, price increases don't appear to be slowing down manufacturing demand as new orders continued to increase while their customers' inventories continued to be reported as too low.
As prices continue their upward climb, manufacturers are still dealing with the two supply chain headwinds plaguing the industry throughout the pandemic: slowing supplier deliveries and labor availability.
Another huge challenge is logistics, especially in getting product through ports and in getting containers.
Fortunately, many countries reduce the import duty to help importers save some costs. We also do lots of efforts to help customers to save as much purchasing cost as possible.