The Montgomery Business Journal features insights from community leaders about relevant business topics, and in this article, Chancey discusses the factors that are currently affecting the Manufacturing & Distribution (M&D) industry and how companies can face the current issues and risks head on.
When asked about how M&D companies are handling inflation, Chancey said, “The COVID-19 pandemic has triggered an inflationary cycle we haven’t seen in this country since Ronald Reagan took office as president. M&D companies have added pressures due to the nature of their operations. From rising fuel costs and overseas conflicts, to wavering consumer confidence and workforce shortages, M&D companies are facing tough decisions.”
Throughout the piece, Chancey emphasized that it’s important for M&D companies to look for alternative solutions that can set them up to thrive rather than just survive. It’s important for businesses to stay the course and aim for specific goals, while focusing on maintaining their purchase power, strengthening their relations with new suppliers and keeping customers informed.
Jon Chancey is a Member in the firm’s Audit Division and has been with the firm since 2000. Chancey is Central and Southeast Alabama’s regional industry leader for M&D and provides inventory management consulting services, business process improvement methods, enterprise resource planning, HR solutions and more. He resides in Wetumpka, Alabama, with his wife and three children.