Consumers have already seen price increases due to ongoing global supply chain disruption, and this trend is going to continue.

More than a third of businesses, 36%, are actively planning to increase prices to offset costs in the next six months, new research from BSI shows. 

Furthermore, shoppers are set to face reduced choices and longer wait times for goods, meaning they could struggle to get hold of everything from consumer electronics to medicines.

The data shows that a quarter (24%) of U.S. companies plan to reduce the range of products or SKUs on offer in the next six months, while 68% are already pausing new orders altogether.

The majority (81%) say they are currently or about to warn customers about shortages, delays, or dependency risks.

The research highlights that these challenges are being exacerbated by a lack of preparedness for what BSI’s resilience experts describe as ‘a new normal of near-constant disruption’, due to geopolitical turmoil, climate and weather-related incidents and digital transformation.

During the last six months, less than a third (30%) of organizations said they were fully prepared for raw material or component shortages, including scarcity of critical inputs.

This is despite half (49%) having experienced supply chain disruption previously are due to geopolitical events, with the same number (50%) having seen issues arise in this period due to raw material or component shortages.

The data shows how businesses are planning to respond to disruption, with almost four in five (81%) currently or imminently stockpiling or building strategic inventory buffers, and nearly the same proportion (78%) currently or considering nearshoring their supply chain in the next 12 months.

With key shipping routes disrupted and high levels of freight theft, 79% are already or planning to change modes of transporting products.

Looking at immediate action, in the next six months, over a third (37%) expect to find new suppliers, and over a fourth (28%) expect to shift trade routes. One in five also said they expect to cut jobs or reduce recruitment due to supply chain pressures.

"The era of predictable global trade that defined the last three decades is behind us," said Tony Pelli, practice director, Supply Chain Resilience, BSI, in a statement. "Today's supply chains operate in a world shaped by geopolitical competition, climate disruption and increasing uncertainty. Businesses are facing a new normal of near-constant disruption, and we are likely to see no let-up in the coming months and years.

"As our research shows, this is not just a concern for those managing operations; we are expecting it to directly impact consumers in the coming months. Whether it will be empty shelves, higher prices or delays to receiving orders, impacts are likely to trickle down to the public as businesses battle one disruption after another.

"For business leaders, building resilience requires stronger collaboration, improved visibility across supply chains and more proactive approaches to managing risk."