P&G Among US Firms Asked To Explain How, Why Supply Chain Problems Cause Consumer Hardships
Procter & Gamble and Amazon are among nine companies FTC ordered to provide detailed information to help the agency identify causes behind ongoing supply chain disruptions. Chairwoman Khan says the information should “shed light on market conditions and business practices that may have worsened these disruptions.”
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Cost increases initially spurred by supply chain disruptions by COVID-19 pandemic have been noted by businesses across consumer product industries since soon after novel coronavirus spread accelerated in early 2020. More recently, OTC drug, nutritional supplement and personal care product providers began noting inflation’s influence on costs.
P&G raises prices on 9 of its 10 US product categories, rolling out increases in grooming, skin care and oral care products now. High commodity costs prompted it to increase its outlook for headwinds of $2.1bn for its FY2022.
UCLA professor Chris Tang says like most US businesses relying on supplies or production from outside the country, particularly from China, consumer health and beauty and personal care product companies should expect at least another year of supply disruption.