The economic forecasts for 2023/4
Inflation has begun to fall but it is still well above the target of 2%. However, the Bank of England does expect it to fall rapidly later in the year.
Energy prices are still high but are falling and that should filter through to the whole economy during the year.
Fuel prices continue to ease, so reducing the costs of transport and therefore the goods being carried.
All in all, the forecast promises a return to lower living costs, with inflation falling to or near 2%.
However, during 2023, we all have to try hard to reach this better economic time so cutting costs and improving efficiency are still the order of the day.
Labour has always been and will continue to be a volatile commodity.
Starting your own business is tough until you get some measure of success. Then you decide to take on staff and that’s when the going can get tough again.
Staff means Health & Safety regulations, holiday entitlements, overtime rates, sickness pay, etc. etc…
The pandemic meant low-paid foreign workers went back home.
The net result is businesses using pickers and packers, whether it be in agriculture or logistics suddenly find themselves desperately short of labour.
So, what can you do about it?
You can see this all as a problem or you can recognise that it is an indicator of what you need to do to protect your business in the future.
If you’ve decided that you want to protect your business and, indeed, make it stronger, more efficient, and therefore more profitable you will want to mentally deconstruct your business and reconstruct it ready for the rest of this century.
You contact businesses that specialise in improving the efficiency of logistics companies.
A company like The Logistics Improvement Group (LiG), which is the result of the coming together of three Logistics based consultancies, with a history of over 40 years of successful operation.
They provide comprehensive and practical solutions for organisations seeking to transform their operation.
They will undertake a comprehensive study of your operation and then make recommendations to the Board of Directors.
They have a wealth of knowledge and hands-on experience, with the three directors having combined experience of nearly 100 years.
LiG specialises in:
- Distribution Centre Automation
- Business Transformation Projects
- Programme and Project management
- Business Transformation Project rescue
So, it you are convinced that you need to do something to be ready for this centuries challenges but are unsure what that something should be call LiG on 020 4587 5487 to arrange a meeting.
Move, improve or automate