This according to a recent Wall Street Journal article, and surveys from Supply Chain/Logistics professionals around the world.
Between the Global Pandemic, container/equipment shortages, winter storms that struck the US Gulf States, factory fires, the Suez Canal mishap, and other logistics woes, the Global Supply Chain is in unprecedented, unpredictable times. No roadmap can be referenced as a guide, however we at Fastbolt are navigating our way through. These disruptions have already led to market price increases, global material shortages and decreased production capacity. Manufacturing delays of semiconductors, plastics and yes, fasteners and related components are being seen all over the world.
Purchasing/Logistics Managers surveyed by the Institute for Supply Management last month, anticipate worsening supply-demand imbalances in a variety of areas as the global economy continues to open up. Many businesses already face depleted inventories, price increases, higher rates of delinquent shipments, and longer lead times for orders. Purchasing/Logistics Managers surveyed expect these type disruptions to last for longer than 12 months.
We at Fastbolt remain dedicated to, and are using our resources in navigating both the financial and strategic challenges of these uncertain times. We reassess and adjust where needed while considering the needs of our customers, our partner-suppliers, and of course the safety of our employees.
We will continue to monitor the market conditions and share any news as we deem necessary.
Please visit us frequently, for updates.