Update on supply chain disruption
BIRMINGHAM, Ala. (WBRC) - Everyone is feeling the impact of the supply chain disruption.
The disruption issues were blamed on the pandemic. Experts said the inability to get products from manufacturers to consumers quickly, and inexpensively, is causing prices to soar.
Market researcher James Cochran, with the Culverhouse College of Business at the University of Alabama, says consumers won’t see things get back to normal for some time; when is hard to predict, but he says the country will be in danger of the same thing happening again, if leaders don’t make policy changes.
”We’ve got to have supply chains were there are alternative routes, alternative suppliers,” Cochran explains. Cochran says right now the network is driven by affordability and speed.
”It’s hard for markets to encourage someone to develop flexible supply chains because there’s no money in it,” he adds.
Until there’s a major disruption like the COVID-19 pandemic, Cochran says, ”At the federal level to try to bring businesses together and talk about this particularly when we’re talking about parts and products that are essential,” he says.
Cochran says if you can buy what you need as early as possible instead of waiting until you’re in a desperate situation. And be patient because eventually, it will all work itself out.
Subscribe to our WBRC newsletter and receive the latest local news and weather straight to your email.
Copyright 2022 WBRC. All rights reserved.