Hope Takes Lead Over Frustration as Supply Chain Disruptions Linger
Artaic’s Founder and CEO Ted Acworth was featured in Business of Furniture. The article discussed current supply chain issues and how Artaic is overcoming these obstacles.
“Product shortages and delivery delays continue to cause headaches across all sectors of business in the U.S. The furniture industry is taking a major hit as costs of raw materials swell, product prices increase, and lead times extend from weeks to months.
‘It’s extremely disrupted,’ said Ted Acworth, founder and CEO of Artaic mosaic tile company. ‘COVID-19 has caused supply side disruption and stimulus has created demand side surge, so we are caught in the worst of both.’
Consumer spending spikes, COVID outbreaks, worker shortages and rising costs have all contributed to problems and delays in manufacturing and shipping.
‘In our industry, tile inventory is not in short supply, it’s about the timeline to get the material to the U.S.,’ Acworth said.
‘Fortunately, we are getting ahead of it with a large supply of material stocked domestically and the ability to produce in our manufacturing studio in Boston. One solution is for companies to invest in holding and storing more inventory to keep it on-hand. Manufacturers should also plan further ahead, and partial progress shipments.’
Some key points for stakeholders in the office design and contract furniture industries to keep in mind – this won’t last forever, but great business relationships certainly can.
‘They matter,’ Acworth said. ‘In tough times you find out who your strong partners are. Take time to understand your partners’ challenges and have patience. It’s bad for everyone.’
With everyone in this together, Acworth sees the industry coming up with some pretty innovative solutions.
‘If we stay communicative, transparent, and positive,’ he said. ‘We’ve found increased communication and transparency up and down the supply chain leading to positive outcomes and stronger relationships.’
Innovative strategies, planning ahead and developing relationships will continue well into 2022, as Acworth sees it.
‘Nobody knows when it will end, so prepare and plan accordingly for this new normal,’ he said.”
