In 2021, a Statista survey reported that supply chain delays and shortages challenged 57% of supply chain companies, while 51% of customers demanded a faster response time. While the backlog of freight container ships has eased off the U.S. west coast, businesses and their customers still face product shortages, labor shortages, and increased freight costs.
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Since the onset of the COVID-19 pandemic, the supply chain has encountered productivity issues, labor shortages, raw material shortages, and timing delays that have impacted nearly every industry. In addition to restaurants, department stores, and other consumer-facing businesses, manufacturing companies have been hit especially hard.
The question remains of whether the international business community will be able to regain control of the supply chain and maximize productivity once again.