How Prepared is Your Supply Chain for Disruptions?
by Sterling J. Scott, Marketing Communications Coordinator, MHI | @mhi_sterling
44% of container cargo comes in and out of the U.S. through West Coast ports. 13,600 dockworkers’ contracts at 30 West Coast ports expire Monday, June 30. The International Longshore and Warehouse Union and the Pacific Maritime Association are in the process of negotiating, as a possible strike that could cost the economy billions of dollars, looms.
According to the National Retail Federation and the National Manufacturing Association, a strike could cost the economy almost $2 billion a day. A study from Wolf Research found that almost one-third of shippers have shipped their cargo early and increased inventory in preparation.
Any supply chain can face disruptions at any time, especially in an ever-globalizing world that is sensitive to fluctuations in energy prices, availability of resources, and economic stability, as well as the impact of natural or man-made disasters. Companies should be prepared for supply chain disruptions.
To learn more about supply chain solutions and connect with companies that can provide them, visit www.mhi.org.
