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These disruptions cascaded into the global shipping industry where ports like the Port of Los Angeles, a major hub for imports from Asia, are unable to clear their shipyards in a timely fashion, further exacerbating the supply chain crisis. This has led to suggestions that stockpiles and diversification of suppliers should be more heavily focused.
Supply chain disruptions have always been a part of global trade. However, a new report from HSBC highlights how companies in the current market are increasingly exposed to unexpected global events.
In March 2021, the restrictions on global supply-chain caused a great impact on Dubai's business activities, which were struggling to recover from the impact of the COVID-19 pandemic. The IHS Markit compiled Dubai's Purchasing Managers’ Index that rose to 51 from 50.9 in February 2021, saving from landing in the contraction zone by only one ...
By the end of 2022, more than 8 million Somalis were in need of food assistance. [10] In February 2022, the Food and Agriculture Organization (FAO) reported a 20% rise in food prices since February 2021. [11] The war further pushed this increase to 40% in March 2022 but was reduced to 18% by January 2023. [5]
The early months of the pandemic led to shortages of toilet paper, hand sanitizer, disinfectant wipes, meat and more.
In the US, shortages and price increases of tampons and other feminine hygiene products were caused by supply chain disruptions, staffing problems, and raw material costs. [193] As of mid-June 2022, approximately 7 percent of tampon products were out of stock, and many shoppers struggled to find their preferred brand. [194]
The first theories focusing onto the bullwhip effect were mainly focusing on the irrational behavior of the human in the supply chain, highlighting them as the main cause of the bullwhip effect. Since the 90's, the studies evolved, placing the supply chain's misfunctioning at the heart of their studies abandoning the human factors. [5]
A supply shock is an event that suddenly increases or decreases the supply of a commodity or service, or of commodities and services in general. This sudden change affects the equilibrium price of the good or service or the economy's general price level .