QBOL Promises Customers No Price Increases For The Rest Of 2022
The impacts of the events of the past few years have been substantial and ongoing. Each industry, business, and individual has felt the ripple effects of international disorder and insecurity, which have dominated all aspects of daily life and commerce in a multitude of ways.
In the Industrial Bearing industry, stock shortages due to the stop-start nature of production in recent years have led to increased demand for raw materials already in low supply. This has disrupted supply chains all over the world and impacted companies, small and large, across every sector. It has also seen prices skyrocket as a result, with most major manufacturers instituting catalogue-wide price list increases in 2022. In September, the latest price lists were issued, taking some manufacturers’ total price increases for the year up to almost 20%.
As with most industry disturbances, the customer, the end user, is the most impacted. Machine downtime has always come at huge cost to businesses, but especially in today’s climate when the increased demand for goods and services, rising costs, and spare part scarcity are factored in.
With all of this in mind, QBOL wants to reassure our customers when it comes to price and availability. At QBOL, we have always worked closely with our partners to ensure we can maintain stock levels and meet the demands of our customers. As such, our international supply network is carefully curated to help us achieve our goal. Since the start of the stock issues, we have been building our reserves and placing orders months in advance where necessary.
Products like Kluber Lubricants, Continental Contitech Silentsync Belts, and Aeroshell Greases, in particular, are in huge demand and have been incredibly difficult for those in the industry to source, with lead times from the manufacturers extending months and months. Thanks to our incredible Purchasing department and Operations Team, QBOL now holds a large stock on our shelves along with all our other ranges, ready to supply our customers worldwide.
But it would be no good having the stock if the manufacturers’ cost increases priced our customers out.
That’s why, following manufacturer updates at the start of September, QBOL has decided to absorb the increases and hold prices for the rest of 2022. As a leading distributor in the industry, we want to provide consistency for customers to plan ahead and manage their budgets. The prices you see on our website will remain the same for the rest of the year, so you can be sure of no nasty shocks when you come to place your order.
At QBOL, we have a set of Values that underpin everything we do and steer us to place our customers at the centre of our decisions. In keeping up stock levels on our shelves and absorbing manufacturer price increases, we hope to shield our customers from some of the turbulence in the industry and help us live up to two of our fundamental principles, Shared Success and Responsible.
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