A few months ago, the United States faced an enormous shortage of demand for goods and services, which many believed would threaten and prolong the pandemic-induced downturn long beyond the point at which the virus was contained. Now, however, we have quickly realized that the economic problem of 2021 is the opposite. Businesses are beginning to face the challenge of keeping up with the increasing demand for goods and services.
“The global economy is vulnerable because it never really recovered,” said Nada Sanders, a professor of supply chain management at Northeastern University. “There is massive pent-up consumer demand, but it’s important to have supply and demand connected because when you have a supply shortage you don’t have the products consumers want.”
Included in this worldwide problem is the paper and print industry. When COVID began, many paper mills either shut down their machinery, or converted machines to produce other paper materials like board stock. Now there is a struggle to keep up with increased demand.
Because of this, we are seeing a paper stock shortage that is affecting price adjustments in various paper products including printing paper and carton materials.
The pandemic continues to accelerate in response to consumer behavior shifts, resulting in substantial stock shortage increased stock pricing, and failing mills. (Source: Financial Times, 2021. Pandemic Accelerates Decline In Paper Products Industry, Resulting In Mills Being Shut Down)
How it Affects Solo Printing and What Our Clients Can Expect to See
Domestically, the print industry is seeing a shortage of paper supply. Internationally, delays in freight transportation time and increase in fuel cost have caused a decline in the influx of foreign paper stock and an increase in cost.
To avoid significant price changes, Solo Printing highly encourages pre-planning on all jobs. Shortages and price adjustments from paper mills are affecting lead and turnaround times. By pre-planning, our team is better able to find our clients suitable price points for paper stock that is in supply.
Solo Printing is combatting the shortage by bumping up our inventory on certain stocks and other essential materials. We currently maintain a wide supply of “house” paper and are striving to find alternative sheets, if necessary, to ensure future job opportunities for our clients.