THE global economy continues to suffer with the high cost of living and inflation hitting consumers hard. As a result, consumers have tightened their budgets on food, rent and gas prices, to name a few.

In the Philippines, inflation soared to an average of 5.8 percent in 2022, up from 3.9 percent in 2021, and as a result, businesses are having to cut costs and let employees go. This is a global phenomenon, and even the supply chain industry is not spared.

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