Industry Perspective
Polymer resin supply chain disruptions have become pervasive, leaving manufacturers scrambling for alternative sources. The reasons for this scarcity are multifaceted, including plant closures due to maintenance issues, labor shortages, and transportation delays. The shortage has driven up prices and extended lead times, creating a challenging environment for businesses that rely on polymers.
Strategic Implications
To mitigate the impact of the polymer shortage, companies must explore alternative sourcing options and optimize their supply chains. Diversifying suppliers and exploring different geographical regions can reduce dependency on single sources. Implementing inventory management strategies, such as just-in-time manufacturing and safety stock, can help businesses minimize the impact of disruptions. Long-term contracts with suppliers can provide stability and price predictability. Additionally, investing in technology and automation can improve efficiency and reduce costs.
