Will the Supply Chain Woes Get Any Better in 2023?

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Credits: Guillaume Bolduc/Unsplash

Supply chain struggles have been apparent for the last few years. They have caused empty shelves, shipping delays and even shopping limits. Will it get any better in the new year?

Based on the current data, it’s hard to say.

Supply chain setbacks

Around this time last year, dozens of container ships were waiting off the coast of California to unload cargo at the U.S.’s two largest ports in Los Angeles and Long Beach. If you couldn’t find the item you were looking for in-store (likely because it was trapped on a container ship), you may have decided to order it online. That put an even greater demand on importers, leading to more backorders.

Now, there aren’t dozens of cargo ships waiting to unload. Stores have fewer backorders and more overstock. Many COVID-related restrictions have been lifted. Global supply chain pressure has increased since September, but at a much slower rate than we experienced in 2020 and much of 2021, data from the Federal Reserve Bank of New York shows.

Read the full article here.

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Source: News Nation

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