Is the economy stabilising?
The base rate set by the Bank of England is still high, so mortgage rates and interest rates for borrowers are still high, squeezing the disposable income of the average family.
The net result is spending is down, major brand names, like Curry’s, are experiencing falling sales compared to previous years.
However, the cost of fuel has fallen from its peak and the price of energy seems to be stabilising.
Taking everything into account the situation looks like it is stabilising.
What does this mean for the future?
In the short term the country will probably take time to settle. Since 2019 there is always that fear that things could go wrong again and so people and businesses won’t be in any hurry to loosen the purse strings.
However, by the beginning of the next fiscal year, if the base rate has fallen and everything else is stable then we could expect to see the economy start to move forward again.
The logistics industry should get ready
Normally, after any kind of economic slowdown, there is a bounce-back period.
Things that could not be purchased will now be ordered and this will happen on top of what is the normal purchasing pattern.
Consequently, there should be a surge in the number of orders.
How can logistics businesses get ready?
- Speed up your Transformation Project
In order to speed things up you could call The Logistics Improvement Group (LiG) on 01908 474 929. They have teams that can be quickly mobilised and once they get to the “front line”, they will identify the issues that are slowing the process and devise a turnaround plan to get you back on track.
All the LiG teams have thorough experience in the logistics world.
- Evaluate and implement change for the future
LiG has many years of experience in this area and can be involved in the collection and analysis of your data.
From that point LiG will draw up a progress plan and once that plan has been agreed by the Board of Directors, it will be implemented, following the LiG tried and tested procedures. This means that the business carries on as normal while the transformation project is undertaken and brought to fruition.
If this is something that you are currently considering, read more.
Who and What is the Logistics Improvement Group?
The LiG Group is the amalgamation of 3 successful logistics consultancies with a history of over 40 years in the logistics world.
The 3 partners have a combined knowledge of nearly 80 years. Read more.
There are signs that the economy is stabilising and if that is the case, there is a need within the logistics to improve efficiency and speed of operation and therefore speed of delivery.
To help businesses achieve this improvement process the Logistics Improvement Group is only a phone call away – 01908 474 929
Move, improve or automate.