Opinion Editorial: Morning Consult | How Inflationary Pressures Are Impacting the Medical Device Industry
June 14, 2021 — Since the pandemic struck the globe, we’ve seen a major disruption in supply chain bottlenecks as well as a steady rise in prices in goods and raw materials. These problems persist and are complex with no immediate reprieve in sight. We need major action by policymakers and business leaders, both in the short and long term.
Morning Consult today published an OpEd by MedSource Labs CEO and Founder, Todd Fagley that captures the supply chain disruptions and inflationary pressures that many industries are facing today. “Inflationary pressures are shaping key business decisions and will impact their customers. Businesses are adapting and increasingly recognize the need to be well-positioned and anticipate future curveballs to stay ahead of the competition and respond rapidly when conditions change,” noted Todd Fagley.
Video One: The Problem Explained (1:01 min.)
Our global supply chain is extremely complex and fragile. As we slowly come out of the global pandemic, supply chain problems persist in the U.S. and across the globe. It’s not just one problem, but its host of issues from our congested ports to shortages of containers, as well as the huge demand of needed supplies and raw materials from all industries.
Video Two: Our Solutions (0:59 min.)
There is no one solution to address the supply chain issue. This effort requires bold and decisive action by policymakers around the globe as well as key business leaders and other key stakeholders. Together we can solve this problem.
Video Three: Our Resilience (0:38 min.)
As with many businesses, Medsource Labs has strong partners across the globe that we’ve come to rely on during these tumultuous times. It also requires that we remain nimble and address the needs of our customers to “improve patient outcomes.”