Wesfarmers CEO on Inflation, Labor Shortage

The video discusses Westfarmers' financial strategies, including hedging against higher interest rates and managing inflation's impact on consumers. It addresses cost pressures from raw materials and supply chain issues, particularly in retail. The new healthcare division, following the API acquisition, is highlighted as a growth area. The Mount Holland lithium project is on track, promising significant contributions to the commodities market. Finally, the video touches on the skills shortage in Australia, emphasizing the need for skills development and migration to support economic growth.

What financial strategy did West Farmers implement to strengthen their balance sheet?

• Investing in short-term bonds

• Locking in long-term funding through sustainability-linked bonds

• Increasing product prices

• Reducing operational costs

How is West Farmers addressing the widespread cost pressures?

• By reducing employee wages

• By increasing product prices significantly

• By minimizing cost pass-through to consumers

• By halting production temporarily

What is a significant challenge mentioned in the supply chain management for West Farmers?

• Increased competition from local businesses

• High employee turnover

• Port congestion and international shipping delays

• Lack of raw materials

What recent acquisition is central to West Farmers' new healthcare division?

• Bunnings

• Officeworks

• Kmart

• API

What opportunity does West Farmers see in addressing the skills shortage in Australia?

• Reducing the workforce size

• Increasing automation in their operations

• Developing more skills and encouraging skilled migration

• Outsourcing jobs to other countries