Wednesday, September 15, 2021

Top UPS Exec Warns Supply Chain Disarray Will Leave Permanent Scar

Top UPS Exec Warns Supply Chain Disarray Will Leave Permanent Scar
"UPS, one of the world’s largest delivery companies, expects global supply chain woes to carry into 2022.
...Scott Price, president of UPS International, told FT that multinational retailers and manufacturers are regionalizing their supply chains:

“A lot of companies are coming to us saying ‘where is the best place to put manufacturing and assembly?'” he said. “There’s an understanding that reliance on stretched supply chains puts you at risk.”

...He forecasted recovery in the air travel industry may take until 2025.
Price expects multinational companies to reshuffle their factories in Asia to North or South America to shrink supply chain footprints.
Last Friday, new data from ports of Los Angeles and Long Beach, California, showed vessel congestion was at a record high...Read all.

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