Recent global events, including the COVID-19 pandemic and the Russia-Ukraine conflict, have demonstrated how quickly and significantly today’s supply chains can be disrupted. Given the rapid rise in inflation and looming recession in 2023, our clients have been increasingly relying on us to support them by developing effective procurement and supply chain solutions to minimise the impact to their supply chains and third-party costs.
Due to the increasing number of requests for our insights and research relating to prevailing factors impacting procurement and supply chain, we have created a series of commentaries on select categories and sectors. Our Research and Insights (R&I) team and subject matter experts (SMEs) have compiled summaries of the current situation, outlined trends from the last 12 months, explained what we expect to see over the short and medium term, and provided guidance (where available) on how to navigate these challenging times1.
For our inaugural Category Insights & Outlook commentary, we have focused on six categories / sectors that have experienced significant changes over the last 12 months:
Following the steep rise in core commodity food prices and shortages in 2022, we expect inflation challenges to continue into 2023.
We have seen significant price fluctuations throughout 2022, but we expect them to stabilise in 2023.
High volatility in 2022 is expected to continue throughout 2023 on both the supply and demand side, as Metals have been particularly impacted by the economic recession.
With a highly unstable environment impacted by sharp price rises affecting most industries, we expect this trend to only continue despite government intervention and other efforts.
The cost of fuel has led to a pattern of instability. However, we anticipate an overall improved outlook for 2023. Stabilisation will be driven by a number of factors, such as changes in buying patterns due to inflation.
Following a period of continuous growth, a market slowdown is anticipated in the short/medium term, driven largely by recession and regulatory uncertainty.
We hope this first set of commentaries will help you plan your activities in 2023 and we will be providing bi-annual updates going forward to outline how categories and sectors are evolving. Register by clicking on the button below to receive future Category Insights & Outlooks straight to your inbox.Register
If your business is, or has been, impacted by any of these trends, or you would like to dive deeper into the outlook and associated guidance for any of the above categories and/or sectors, our SMEs are available to help.Get in touch
This information is presented for information purposes only. Efficio disclaims any representations or warranties (express or implied) with respect to the information, and it should not be used as a substitute for consultation with professional advisors. Any use of this information is at the user’s own risk.