In a recent talk, the CEO of Walmart reminded everyone that Walmart signs contracts for its products months in advance of the products appearing at stores. He alerted us that Walmart's contract prices are jumping with serious inflation beginning in June of 2011. He is not guessing; he is seeing the inflationary prices printed on the contracts. What is the solo lawyer, small business or non-profit to do? It is time to make some guesses and take action.
Fuel costs will drive up the prices of things that are delivered by truck. Paper, envelopes, and file folders are already spiking. For the small office, should we simply buy an extra box of copy paper or envelopes?
Ink? It is already too high!
Is it time to buy a good scanner and go paperless? Scan in forms, important papers, orders, decrees and use Dropbox.com to have a free offsite storage?
They grow a lot of coffee in Brazil, but not in Texas. Tea is grown in India and Indonesia, 12000 miles away. Shipping fuel and trucking fuel are and will continue to drive up prices. What office can survive without coffee or tea? Time to buy extra cans of coffee and boxes of tea.
Fuel costs travel is already going up and will continue to do so. Is it time to get serious about Skype, Gotomeeting, or Anymeeting.com to offer seminars online? Freeconferencecall.com could save travel expenses.
Of course, it is all guess work, but I remember serious inflation. We have two or three months to make our guesses and take our chances. Take action! The days of serious inflation are acoming!
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