Unprecedented Changes, Demand & Opportunity in The Supply Chain Industry
Supply Bottlenecks & Pent Up Demand
In the past year and a half the logistics & supply chain industry has seen a dramatic impact on the global supply chain. Early on we witnessed toilet paper & cleaning shortages first which have transformed today into other shortages from cardboard, computer chips & lumber.
While this past year has brought an increased risk of inflation it's also dramatically increased the opportunities and wages in the industry as driver shortages and the need for warehouse & skilled manufacturing labor has risen dramatically. In this episode of Logical Logistics, we explore some of the current changes in the industry and look at the expanding opportunities for young people.
Inflation has been a growing concern that has been affecting the industry in the form of rising fuel and manufacturing costs that's causing a rise in prices across all industries.
Shipping & Truckloads Are Increasing
Rising costs are coinciding with shipping and truckload demands increasing due to pent up demand from easing Covid restrictions. With many people working from home over the last year, demand in most sectors has increased dramatically. This is now especially true for an increasing variety of building materials as early on more and more people were remodeling their homes but also because many manufacturers slowed their operations due to the Coronavirus.
Demand for New Drivers
This increased demand is also leading to trained driver shortages. Wages for CDL holders and those with special certifications like Hazmat is dramatically increasing with this demand.
Supply Shortages & Increasing Demands
While the same can't be said of all industries across the board, limited operations sent ripples across the supply chain industry creating bottlenecks leaving businesses needing new & more reliable manufacturers & shipping carriers to stay supplied & deliver to their customers.
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