As the prices of commodities become more volatile due to shortages, an increasing number of manufacturers are redesigning their products or processes to combat price hikes.
A survey published today by EEF and Royal Bank of Scotland shows that nearly half of the companies surveyed had overhauled their products or processes in response to commodity price increases. Other strategies implemented by manufacturers to combat the rises in commodity prices include new sourcing strategies and using cheaper, alternative materials. Other ways to…
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