The spike in freight costs continues to put pressure on food and other consumer items.
While virus-related restrictions have eased, giving local traders a little respite from the logistical nightmares they encountered last year, DHL, the world’s largest logistics company, said five risks would continue to pose challenges to supply chains this year and beyond. Citing a report released by Everstream Analytics, DHL noted that three of these risks are pandemic-related—ocean freight, labor shortages, and the shift to just-in-case from just-in-time supply chains.
Beyond the pandemic, traders, retailers and manufacturers would have to brace themselves for environmental, social and governance issues. Everstream Analytics noted that Norway and Germany passed new laws holding companies accountable for human-rights violations in their supply chains, and similar European Union legislation is due to be enacted this year.
Water shortage is another problem confronting traders and supply chain managers. DHL said water scarcity can affect even logistics networks and will pose a challenge to delivering food and other essential items to buyers. In 2019, for instance, low water levels prevented the largest container ships from traveling fully loaded through Panama Canal.
The easing of Covid mobility restrictions is now making it easier for countries to trade with each other, but this does not mean that it will be business as usual after the pandemic. Global trade may be crawling back to pre-pandemic levels, but Manila should not let its guard down.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PHL Marines and US counterparts begin 3-week military exercise in Palawan, Laoag | Rene AcostaThe Philippine Marines and the US Marine Corps Forces, Pacific (MARFORPAC) began on Tuesday their exercises in Palawan under the three-week bilateral training called Marine Aviation Support Activity 2022 (MASA 22) following its opening at the Marine Corps headquarters at Fort Bonifacio. According to Marine spokesman Major Emery Torre, the…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Citi and Home Credit’s first social financing facility to further support financial inclusion in PHL | BMPlusCiti, the country’s largest foreign bank, and Home Credit, a global leader in consumer finance, today announced the launch of a new joint social finance facility in the Philippines. The new loan is designed to promote greater financial inclusion for Filipinos and is the first example of its kind for…
Source: BusinessMirror - 🏆 19. / 59 Read more »
PHL, Japan, Indonesia conclude regional maritime pollution exercise | Rene AcostaThe Philippine Coast Guard (PCG) rendered arrival ceremony on Monday to its contingent made up of four vessels that participated in the Regional Marine Pollution Exercise (Marpolex) that was held in the waters of Indonesia and joined by its counterparts from that country and Japan. The ceremony was led by…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Concepcion: PHL must aim for 6% to 8% growth to settle obligations | Andrea E. San JuanPresidential Adviser for Entrepreneurship Jose Maria A. Concepcion III said the government and private sector must come up with a plan that will allow the Philippines to grow by 6 percent to 8 percent to pay the country’s obligations. “So I believe that we should start planning on what to…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Bayad Asenso offers extra income to micro-entrepreneurs | BusinessMirrorCIS Bayad Center Inc., the biggest multi-channel payment platform in the Philippines, is introducing an easy-to-use software solution that will increase the income potential of micro-entrepreneurs, who account for nine in every 10 businessmen, including sari-sari stores owners in the country. Called Bayad Asenso, it is a featured service within…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Global cost of living crisis getting worse | BusinessMirrorHungary holds the distinct honor of recording the most extreme monthly inflation rate in the 20th century. In July 1946, it experienced a post-World War II hyperinflation of 41.9 quadrillion percent (41,900,000,000,000,000 percent), amounting to prices doubling every 15.3 hours. Zimbabwe broke Hungary’s hyperinflation record in November 2008 with a rate estimated at 79,600,000,000 percent…
Source: BusinessMirror - 🏆 19. / 59 Read more »