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Supply chain management: managing price inflation

Published on August 31, 2023   54 min

A selection of talks on Management, Leadership & Organisation

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Supply Chain Management: Managing Price Inflation presented by Dr. Darren Prokop, Professor Emeritus of Logistics, University of Alaska Anchorage.
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What is supply chain management? It is the linkage of organizations in order to meet some strategic goal. Linkages could be achieved through contractual relationships or through mergers and acquisitions. Linkages could be more informal and involve a joint venture or strategic alliance covering a more limited business activity. In any case the intent of supply chain management is to foster trusting relationships whereby the partners are more valuable together than apart.
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What is price inflation? Abbreviated as simply inflation, it means a rise in the price of an item over some period of time. It is like a balloon expanding in size. If the rate of inflation falls for example, the inflation rate in January was 7% and in February it was 6% it is called disinflation. It is like a balloon expanding in size but at a reduced pace. If the rate of increase is negative i.e. the price is actually falling over time, it is called deflation, in this case the balloon is reducing in size. Of course many prices rise and fall all the time as best seen with commodities traded in world markets such as crude oil, natural gas, gold, aluminum, wheat, sugar etc. Inflation is particularly problematic for businesses and the general public when it affects prices over a wide range of markets for raw materials, subassemblies, final goods and services. Why? Because it is hard to

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Supply chain management: managing price inflation

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