Glimmers of hope emerge in the supply chain nightmare

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 83 sec. here
  • 3 min. at publisher
  • 📊 Qulity Score:
  • News: 36%
  • Publisher: 63%

Epic port congestion is easing. Shipping prices are falling from sky-high levels. Deliveries are speeding up a bit. There are growing signs that the supply chain mess is finally starting to get cleaned up.

Philippines Headlines News

Philippines Latest News, Philippines Headlines

That's not to say the supply chain nightmare is over. It's not. And the situation may not get anywhere near back to normal anytime soon.

The supply chain chaos was largely caused by the pandemic. Logistics networks came under enormous strain when the world economy shut down at the onset of Covid — and then rapidly reopened. Demand for goods skyrocketed and just-in-time supply chains buckled under the pressure. Covid outbreaks and inconsistent health protocols around the world added to the mess.For instance, the backlog of orders index in the Institute for Supply Management's manufacturing survey fell to 61.

"This suggests the improvement is because the surveyed manufacturers' were better able to get stuff out the door, not just because demand cooled down and the phones stopped ringing," said Colyar of Moody's.Improvement has been more dramatic in clearing up the traffic jam of container ships parked outside California ports.

"That's huge. It shows that we've finally restored some fluidity to the system and taken away some of that congestion," said Fazili, who leads coordination of the Supply Chain Disruptions Task Force."We're happy with the progress but not taking our foot off the gas." "The ports are one modest player in this situation," Freeman said."For us, it's really about trucking, trucking, trucking. The trucking situation is not getting any better."

"The White House could be using the power of the bully pulpit here to encourage more states to get in line," Freeman said. The worldwide shortage of computer chips continues to snarl global supply chains, limiting the production of a range of products, including iPhones and new cars.

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:

 /  🏆 13. in PH
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nice!

Under a point until a friend introduced me to Ahmed Rossi and my life too better turn. I made an essential deposit of $1000 and earned $10,350 profit within 48 hours. He’s the best and I strongly recommend him 👉👉 AhmedSa06178863

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Strong quake jolts Japanese islandsA strong quake jolted an island chain in Kagoshima Prefecture, southwestern Japan, on Thursday but no tsunami warning was issued and there have been no reports of injuries or serious damage. I know we all probably must have heard about Bitcoin but don't know how it works I tried it a week ago by a fellow tweeter who recommended me to JULIE_FX_TRADER she guided me through and i made a return of $25,000 after a week of trading, connect with her. JULIE_FX_TRADER
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Strong quake jolts Japanese islandsA strong quake jolted an island chain in Kagoshima Prefecture, southwestern Japan, on Thursday but no tsunami warning was issued and there have been no reports of injuries or serious damage.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Donaire hopes to continue resurgence with winNonito Donaire defends his title on Saturday against undefeated top contender and fellow Filipino Reymart Gaballo.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Robredo: Int’l Human Rights Day a call to speak truth in face of oppressionVice President Leni Robredo hopes the commemoration of International Human Rights Day will be a call to speak the truth in the face of oppression and replace inequality with compassion. Read: what? “replace inequality with compassion”? my jaw dropped on that. Oppression? Maybe in Afghanistan. Never-ending ‘Leni Diaries’ sponsored by oligarch-owned Inquirer yet her standing in surveys continues to decline while her opponent is rising at 82% in recent US-sponsored survey they wish not to divulge to the public.
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Mati surfer eyes title in PH Surfing Championship TourOf the many surfers from Mati City, Rodel Palitawi took the long travel to Borongan City with high hopes of winning gold in the 2021 Surf in the City.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

Cebu City nears herd immunityCebu City is about to reach herd immunity, and they hope to achieve this by the end of the year.
Source: cebudailynews - 🏆 8. / 71 Read more »