One of my 2023 resolutions will be to provide an update every month. So I’m starting early in November 2022.
Start of year predictions are always wrong
I naively thought in our update at the start of 2022 that this year would get easier; lockdowns, costs, supply chain and resourcing. It definitely has not got easier, but I’m optimistic that 2023 may see an improvement.
Costs continue to rise with some stability on the horizon
We have continued to see raw material prices increase through 2022 as a result of demand, global events, freight and exchange rates. Raw material costs are significantly higher than pre-pandemic. There is some stability on the horizon but we are wary of volatility and we continue to hold sufficient stock to ensure continuity of supply. Overhead costs have also risen steadily and inflation data from around the world confirms that high levels of inflation have taken hold. Despite this, our board recently decided to hold our prices for the remainder of 2022, with a review to occur in 2023. With our last price increase at the end of 2021, this is one of our ways of ensuring great service and stability for you our customers.
Trend we are seeing – collaboration
I’ll try and keep the trends focused on one per month. This month I’ll focus on customer and supplier collaboration. We continue to see companies thriving when they choose to invest in collaborative long term relationships. This can present in multiple ways; meeting in person, site visits, customisation, improving products to increase fitting efficiency or performance, sustainability reporting or industry initiatives. We are seeing a marked increase in collaboration as we all tackle people shortages, supply chains and the normal changes in our dynamic markets. Our best recent example of collaboration in action is our new mudflaps product line which has a pretty cool back story.
A huge thanks to our customers who trust in Rhino and an open invite to connect with Will or use our online services.
Story of the month
We have been really taken by the function and style is our low profile guard is delivering with top-notch operator Transcon.
Events are back…see you at the Trucking Industry Show
We’ve enjoyed being at several boat shows in the later part of 2022. We are at the Trucking Industry Show at the Canterbury Agricultural Park 25-26 November in stand C4. Our updates are on Facebook or Linkedin.
Look after yourself in the mad run into the end of 2022.
Regards
Will – GM @ Rhino.