In the latest episode of “Talking Trade,” Bank of America executive Drew Slocum discusses how his team helps companies navigate the intricacies of international trade.
“The last 18 months, what we’ve seen companies work through has been unique, different and challenges that most of our companies have never faced all at one time,” said Slocum, senior vice president and marketing manager for the company.
The show touches on rising inflation and interest rates as well as supply chain and labor issues, along with how financial institutions and their corporate clients are grappling with these trends.
“We’ve seen borrowing ramp up quite a bit really across the board, as companies are faced with higher costs, but also as they think about trying to get ahead of inventory issues,” he said. “More advanced purchasing on inventory … trying to make sure they have the components on hand so they can meet the demand that they’re seeing.”