Logistics
Global supply chains have never been healthier, according to one key reading: no more empty shelves, clogged ports, or shipping delays that drive up prices.
According to data released June 6, 2023, the Federal Reserve Bank of New York's Global Supply Chain Pressure Index hit its lowest point on record in May, down 139% from its peak in December 2021. In addition to tracking freight costs and delivery delays reported by manufacturers, the index also tracks how easy it is for companies to get materials, manufacture products, and transport them.
Grocery stores and other retailers have benefited from improvements in global supply networks. According to a May survey from decision intelligence company Morning Consult, shoppers faced fewer shipping delays, found fewer items out of stock, and were able to find what they needed more easily in April than 2022.
As a result of the pandemic, shortages of cars, computer chips, and other products led to inflation reaching its highest level since 1981 by June 2022. Most of those kinks have been worked out.
Priscilla Thiagamoorthy, senior economist at BMO Capital Markets notes, “The supply chain snarls that helped drive inflation to multi-decade highs have now largely resolved...There are a number of reasons why underlying price pressures continue to stay elevated, but at least supply issues are no longer one of them.”
Riverhorse Logistics and it's operating companies can help you company manage supply chain and logistics from port to door. Contact us today to learn more.
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