A supply chain crisis? WSJ profile article: “Global Supply-Chain Problems Escalate, Threatening Economic Recovery.”
To quote Winston Churchill: “Never let a good crisis go to waste.”
So what are you doing about it? Transportation costs have gone from an afterthought in many global supply chains to a significant source of financial pain. The WSJ reports that some executives expect the elevated rates hitting international and domestic transport services to stretch into 2023.
Yes, it looks like we are seeing a supply chain crisis. But, if you need more data – here it is: Transportation costs as a share of the U.S. economy reached 5.1% in 2020, the highest level recorded over the past decade in the annual CSCMP State of Logistics report and have been surging this year.
The Cass Freight Index for expenditures reached a record high in August and was up nearly 35% from August 2019.
BTW – Oil is now over $80/barrel – watch Diesel skyrocket in price!