With the stakes rising from temporary revenue dips to more serious product shortages, it’s time for a shift in our approach to this “new normal” of supply chain instability.
Ideas about how to more efficiently “re-commerce” returned goods into the supply chain seemed the most fresh and fruitful
up for discussion on the first day of Home Delivery World in Philadelphia, Aug. 31.
Logistics executives say sea containers and the steel trailers needed to ferry goods on trucks are in short supply, as efforts to cope with steep inventory imbalances send new backups rippling across supply chains.
Citi, the U.S. bank with the biggest presence in Russia, has been trying unsuccessfully to find a buyer for its business. A spokesperson told BBC News that, while its local consumer business would close, Citi would continue to support multinational institutional clients in the country.
To help safeguard their supply chains against future unpredictable events, organizations can implement a master data management (MDM) strategy as a foundation for strong risk mitigation during times of crisis.
Retailers and suppliers face multiple headwinds, but they should be looking at the situation as an opportunity to cut costs and streamline supply chains, says Jason Murray, chief executive officer of Shipium.
The majority of U.S. pandemic-era inflation came from a surge in demand, but supply chain constraints stoked it further, Federal Reserve Bank of New York research shows.