Supply Chain Crisis
The supply chain crisis is at the forefront of everyone’s mind, especially with the holidays quickly approaching. This is an issue with multiple breakdowns causing massive interruptions and will take a lot of resources, money and time to rectify.
Locally, Bisnow recently published an article, California’s Supply Chain Solution Isn’t Something Money Can Buy where Tom O’Brian, executive director at the Center for International Trade and Transportation said, “eliminating the bottleneck requires not only money but operational changes.” The recently passed trillion-dollar infrastructure deal is projected to fund several enhancements in commercial real estate nationwide. Unfortunately, we are not likely to see any notable results due to the seriousness of wide-spread origins of the supply chain problem.
On a global spectrum, “a complex web of factors, exposed by the Covid-19 pandemic, is snarling supply chains: Severe labor shortages, antiquated infrastructure, containers in the wrong places and free-spending U.S. shoppers spurring an import surge have all disrupted the normally synchronized flow of global trade,” according to an article in Bloomberg.com.
The CEO of industrial giant Prologis Inc., Hamid Moghadam, says “I think it’s going to get worse. The short-term problem, I think, is going to be with us through 2023.”
For the full article, Snarled Supply Chain Is Making U.S. Warehouse Shortage Worse https://www.bloomberg.com/news/articles/2021-11-09/snarled-supply-chain-is-making-u-s-warehouse-shortage-worse
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