Chargebacks911® COO Weighs in on Global Supply Chain Woes
Chargebacks911 COO and Co-Founder Monica Eaton-Cardone discussed the unprecedented shortages and far-reaching effects of those current global supply chain issues in a recent article for GOBankingRates.
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Supply chain shortages first appeared back in 2020, at the start of the Covid-19 pandemic. As workers were forced into lockdown across the globe, many factories were hard-pressed to meet supply demands. Production slowed or was halted, which resulted in shipping companies backlogging products.
Eventually, resulting delays for high-demand goods caused further complications in shipping and storage. Many containers would be stripped of product in destination countries but then never returned for reloading, exacerbating the shortages.
“As we’ve recently seen, these events have caused prices to rise because all the efficiencies that were so carefully built into the supply chain have collapsed,” Monica explained. “Eventually, this leads to scarcity, shortages and lots of unhappy consumers — especially during the holiday season. A broken supply chain is unpredictable, and the system cannot function without reliability in sourcing and predictability in shipping.”