The global supply-chain mess, prompted by a surge in consumer demand at a time when factories and logistics companies were hobbled by coronavirus-related lockdowns, is not over, with many companies now saying their main struggle is paying sky-high shipping rates and a list of fees for goods delayed at the nation’s slammed ports.
The higher costs have trickled down to consumers in recent months, helping push inflation to 40-year highs. If shipping rates don’t come down, companies warn they may have to push prices even higher….Companies have spoken for years about diversifying their manufacturing away from China, which they’d chosen for its low labor costs, and to set up factories closer to their consumers.
Forbes spoke with Seraph founder Ambrose Conroy about these issues – read the full article at Forbes.
