Supply Chain Flare-Ups Intensify
A “perfect storm” of challenges is making importing more complicated and expensive, raising concerns about potential inventory issues and product price increases in the industry.
For many, the global supply chain is a bit like a good offensive line: absolutely critical, but not something they necessarily pay much attention to until blocks start being missed – i.e., things start going wrong.
Well, blocks are starting to be missed again, so to speak.
The COVID supply chain crisis and its related effect on inventory shortages and price increases put sourcing/importing challenges front and center in the minds of promo industry pros and the general public. But as things broadly stabilized (though challenges remained), it perhaps understandably became less of a pressing day-to-day concern.
Now, however, sourcing issues that recall pandemic-era challenges are rearing again, shifting the supply chain back into the spotlight.
Container shortages, soaring freight costs, port congestion, worries over a port worker strike – these are some of the factors similar to the pandemic period problems that are flaring. They’re not at the crisis levels seen during COVID, but they are causing impacts in the sourcing world and promo products industry.
Just how pronounced these effects might be remains to be seen and is largely contingent on how long the current challenges persist. In this Promo Insiders, ASI Media’s Christopher Ruvo and Theresa Hegel delve into the issues in play and their potential implications for industry inventory and product pricing.