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Supply chain disruptions cause delays and high prices | Chicago News

As the holiday season approaches, foreign goods are delinquent and prices are rising, causing small business owners to mess up their inventories. (WTTW News)

Illinois small business owners are experiencing unprecedented supply and demand for goods, but store inventory is limited due to national supply chain issues.

As the holiday season approaches, foreign goods are delinquent and prices are rising, causing small business owners to mess up their inventories.

That’s CEO and founder Penny Crockett. Penny tea I experienced it during a supply chain crisis in Monnie, Illinois.

“One of my suppliers [in China] We were short of material and they didn’t tell us, “she said. “Since June, one of our ingredients has been gone, but I hope I have everything I need in my store by the end of next month, but that’s not the case yet. [concerning] that [my supplier] Discontinued due to one ingredient. “

Crockett said the shortage would require suspension of presales and participation in holiday promotions such as Black Friday and Cyber ​​Monday.

last weekPresident Joe Biden said the Port of Los Angeles operates 24 hours a day, 7 days a week to address US supply chain issues. This means that UPS, FedEx and other postal services also operate every night. According to Moody’s Analytics, the rescheduling should increase container flow by 10%. Also, according to port staff, 200,000 containers were shut down by truck on Monday.

Maciek Nowak, Interim Dean Loyola University Quinn Run Business School, COVID-19 said it played a major role in the supply chain blunder.

“People can still go to work [during COVID-19].. The problem is not the labor here, “he said. “The problem is what we see in Vietnam, China, Bangladesh … When there is a stop or slowdown of something in one of these places, it has a spillover effect around the world and it creates. ing [labor shortage problems].. And when the economy begins to flow, demand suddenly increases. As long as there is a decrease in supply and an increase in demand, they combine to create unprecedented delays and supply problems. “

He also said businesses would suffer unless the government took more action.

“Small businesses aren’t getting what they need on time because everything is late. And there are so many products and inventories that are blocking the supply chain. There are many things that need to go right. And there’s nothing going on schedule at this point until we can manage the issue. “

Crockett said delays wouldn’t affect the business. For now, she has to rely on distributors like Target and Whole Foods who have inventories of her products.

“I need to handle my current inventory. It won’t be as profitable as I expected, but at this point I want to work differently and it’s a supply chain crisis. I hope the customer will be successful in that respect. “

Note: This story will be updated in the video.


Supply chain disruptions cause delays and high prices | Chicago News

Source link Supply chain disruptions cause delays and high prices | Chicago News

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