For some supply chain managers, the upheavals of recent years have justified their entrenched approach of relying on excess inventory as an insurance policy. They’ve learned the hard way that old methods don’t cut it anymore.
The shortfall is affecting planning at carriers including American Airlines and United Airlines, as persistent supply-chain problems and regulatory concerns rattle the business.
The spate of cancellations in October marks a sharp reversal from a few months ago, when shipping lines commanded premium prices and booked record profits.
The plan includes a levy on fossil fuel firms' surplus profits and a levy on excess revenues made from surging electricity costs. The cash raised is expected to go to families and businesses.
Hong Kong will stick with its push to reopen to the world unless a dangerous new virus variant emerges, while stressing the financial hub has an obligation to protect mainland China from major COVID-19 outbreaks.
The difficult job of rebuilding communities pummeled by Hurricane Ian is expected to be made even worse by a problem that’s lingered since the early days of the pandemic: snarled supply chains.
The shortfall shrank 3.2% to $87.3 billion last month, Commerce Department data showed Sept. 28, suggesting a tailwind for economic growth in the third quarter.