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Cargo Delays, Supply Shortages and Increased Prices Likely To Continue
Patrick Penfield is a professor of practice in supply chain management and director of Executive Education at the Syracuse University Whitman School. He provides insight below about the continued supply chain crisis. The material below can be quoted directly. Professor Penfield is also available for interviews.
“Demand for products did slow down in July which allowed some supply chains to normalize. However, the third and fourth quarters of this year are going to be ‘difficult’ for most U.S. manufacturers.
“The flooding in China and the Delta COVID-19 spread impacting Asia are starting to impede supply shipments. Manufacturers are going to need to brace themselves for more cargo delays, supply shortages and increased prices in the third and fourth quarters of this year. This is going to be a trying and stressful period for companies that are trying to keep up with demand during the holiday season.
“Unfortunately, the global supply chain is in crisis.”
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