Tempe Trophy Pivots to Bolster Inventory to Smooth Out Volatility in the Market
TEMPE, ARIZONA, UNITED STATES, September 4, 2021 /EINPresswire.com/ — As construction material shortages on copper and electrical wire around the world continue and rising consumer demand drives pricing to record highs, one Tempe-based electrical supply house is pivoting its business model in order to bolster inventory and keep costs relatively stable for local electrical and solar contractors.
Recently, The National Association of Homebuilders (NAHB) released its May 2021 survey that indicates retail prices on copper wire have soared 40-50% over the last two months, while 77% of electrical contractors report a shortage. With more people flocking to Arizona than ever before, this means a slew of construction delays and pauses for the foreseeable future due to the COVID-19 pandemic forcing manufacturers to cease or slow production, China purchasing half of the world’s copper production and copper reserves depleting with little to no discovery of new deposits.
“Just like what we saw at the start of the pandemic when there was a run on essentials like hand sanitizer and masks, the electrical industry supply chain has been disrupted significantly. Over the last few months, I’ve had several suppliers warning me of increased shortages and a 90% increase in the cost of steel, among other supplies,” said Jason Hood “With my clients being primarily electrical contractors, it’s upsetting to see the massive blows they are about to be hit with. That’s why they can rest assured that Tempe Trophy will do what we can to help ease some of the challenges as we’re working in collaboration with the Electrical Trade Organization and the Tempe Chamber of Commerce to find solutions in order to keep production up and construction deadlines on time.”
A family owned and operated business founded more than 35 years ago, Tempe Trophy is the largest supplier of panel tags and solar safety labels throughout the Southwest. Pivoting its business model over the last few months to better outfit its customers, Tempe Trophy is working with its manufacturers to bolster its inventory and offer long-term price stability on in-demand electrical supplies including copper and wire to help smooth out volatility in the market and ease bidding estimates. The company is also adding additional automation to its engraving process to ensure accurate timing estimates and to prevent further delays.
For more information or to learn more about Tempe Trophy, visit https://www.tempetrophy.com/.