The effect of inflation in every marketplace is easily seen in our daily life as consumers. With the current inflation rate hovering close to 8.5%, it is the highest recorded in over 40 years.
The ripple effects from industry to consumer have been vast, and the printer industry is no different in succumbing to inflationary pressures.
Prices have increased, and with the supply chain crisis still affecting the daily transportation of machines and products, delivery times have stagnated, as well.
It’s a difficult time to be in the market for a printer, but it shouldn’t stop you from attaining the machine you desire.
As a local print vendor that sells Xerox products, we have dealt with the consequences of inflation head-on, and understand what you can do as a consumer to evade some of the direst repercussions of the current economic quandary.
Below are three tips on how to limit the consequences of inflation while you look to buy your next printer.
First, though, let’s briefly go over how inflation is affecting the printer industry as a whole.
How Has Inflation Affected the Printer Industry?
Inflation is defined most succinctly as the economic effect of more available dollars chasing less available goods.
Inflation affects every aspect of consumer goods. That means that every input in a given product is affected as well as the product itself.
To exhibit how inflation affects each step of the printer manufacturing process, let’s look at a classic example of the intricacies that go into making even the simplest of products:
The Pencil Example
A pencil seems like an unsophisticated product and is often overlooked, yet many inputs go into the making of an everyday pencil.
For example, here is some of what goes into the making of a pencil:
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The wood for a pencil is harvested by professional lumberjacks using state-of-the-art equipment manufactured around the world. Once harvested, this wood is treated with chemicals and paint refined in chemical manufacturing plants by a host of people using a myriad of tools and additional inputs
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The “lead” or graphite in a pencil is mined by professional miners using heavy equipment and refining processes. Each of the inputs into the manufacture of graphite is also subject to inflationary pressures
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The rubber for the eraser and the metal stripping that holds the eraser in place also have a plethora of processes, people, and manufacturing plants involved in their production.
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After each of these inputs is prepared, they then must be packaged and shipped using freight lines including ships, trains, and large trucks to ultimately be compiled, in yet another state-of-the-art facility, into the finished pencil.
Literally, thousands of processes go into the manufacture of a simple pencil and each of these processes is affected in its own unique way by the inflationary pressures in the current state of the economy.
Inflation In the Printer Industry
So, how does a pencil relate to inflation in the printer industry?
Well, think of it like this: If it takes that much effort to manufacture a pencil, you can only imagine the labor that goes into constructing even a typical, single-function printer, let alone an advanced multifunction printer.
That means the availability of raw materials needed at every stage of the printer-making process is crucial to ensuring the finished product is completed in a timely manner.
Because inflation, coupled with the supply chain crisis, has made it more laborious to obtain the needed materials for each step of the manufacturing process, it’s caused a decrease in the supply of printers and printing supplies.
What does that mean for you, the customer? Hiked-up prices because the supply of printers has decreased, causing a shortage of machines when demand remains largely the same.
3 Tips to Negate Inflation Effects on Your Next Printer Purchase
It’s easy to become dispirited by the ills of inflation. Indeed, you can’t circumvent the cost of a product affected by inflation, which is usually the most pressing concern when inflation and products coalesce.
However, there are bits of advice you can heed that may help mitigate the other consequences associated with inflation, including elongated delivery times and the lack of a short-term printing solution.
Here are three tips for combatting the effects of inflation:
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Order Your Product with Enough Lead Time
As mentioned previously, delivery times for printers have been lengthened by the combination of supply chain disruptions and manufacturing inertia caused by price increases in raw materials and needed parts.
If you’ve found your ideal machine, and have a pressing need for it, order it now. Ordering your product with enough lead time is an essential element in ensuring that your machine gets delivered as quickly as possible.
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Be Aware of Your Options
Say you’ve ordered your new printer but need a temporary replacement because the device you relied on before broke down.
There are two primary options you can look into if you’re in a situation where you need an interim machine. They are:
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Renting a printer, which will provide you with a short-term machine to pick up the slack while you wait for the arrival of your new one.
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Buying a used printer, which will allow you to have a provisional printing solution without having to enter into a rental agreement.
There are pros and cons to both options, and not every vendor will offer rentals and used printers will not always suffice in every situation.
However, if you are in desperate need of a replacement while you wait for your new machine, renting or buying used could be an option for you.
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Reach Out for Help
You shouldn’t feel hopeless in an unfortunate and unavoidable situation.
An obstacle in the general workflow of daily business processes can be stressful for anybody, especially when it impedes productivity.
The printer you had might be insufficient, and the new one you spent significant money on may not come in when you need it, but that doesn’t mean you should feel left out to dry.
In the previous section, renting and buying used were mentioned as possible alternatives, but what if neither is the option for you?
Reach out to your vendor and let them know of your predicament. In many cases, they will work with you to find the best short-term, and long-term, solution for your unique situation, even if it requires an unconventional resolution.
Need a Short-Term Printing Solution?
It’s a tough time to be in the market for a printer, with the strains of inflation and continuing supply chain disruptions making it feel as if an inadequate outcome is imminent.
While the direct effects of inflation are still readily rampant throughout the printer industry, there is hope that they will dimmish in the coming months, and the traditional manufacturing and delivery process will be reverted to something resembling normal.
Until then, it’s imperative to assess your current situation and talk to your print provider about what you can do for the foreseeable future as you plan for the long term.
We’re in the proverbial trenches every day trying to find solutions for people in these trying times and can offer a helping hand to anybody that needs a short-term or permanent print solution for their workplace.
If you need a rental, short-term replacement or help in finding the right long-term solution for you, reach out to us and we will guide you to your desired result.
