14 ways brands are addressing and managing inflation in their industries
Shayne Fitz-Coy contributed to Fast Company’s expert panel, “14 ways brands are addressing and managing inflation in their industries.”
CUTTING INEFFICIENCIES
Respond to inflation by eliminating inefficiencies instead of raising prices. Like Toyota in the 1970s or Costco in the present era, cut waste, standardize operations, and empower staff to find savings that you pass on to customers. This counter-inflationary strategy keeps prices stable, protects customers, and positions you to gain market share while competitors increase prices.
Read the full panel on Fast Company →