Tracking financial flow is vital because transportation and other supply chain costs keep increasing, says Chris Cassidy, executive vice president of Trax Technologies.

Rising helium costs, missing auto parts, and shipping delays are spurring a new wave of financial trouble for companies already saddled with debt amid broader concern that the U.S. economy is on the brink of a downturn.

In an age of automated ports and AI-powered hiring, many companies’ go-to method to manage pricing is amazingly low-tech — typically a mash-up of emails, spreadsheets and disjointed business intelligence tools.

The pressures on supply chains remain enormous, leaving many supply chain professionals with a key question: Is there a better way to work with suppliers, including critical outsourcing partners such manufacturers and third-party logistics providers?

Executives need as many tools as possible at their disposal to weather both the COVID-19 pandemic and broader economic headwinds. Pricing power should be an integral part of any decision-maker’s toolkit.

For many businesses, the past year exposed the fragility of their cash flow and working capital. The pandemic, coupled with supply chain disruptions and erratic consumer demand, wreaked havoc on companies facing both internal and external pressures.