- According to Bloomberg, “It now costs about $7,980 to transport a 40-foot container from China to the US’s largest gateways for trade on the West Coast on a long-term contract, more than double the $3,070 paid a year ago. Meanwhile, prices are at almost $7,770 — a 47% increase from last year — for near-term movements.” With this information also comes worry as a contract for American dockworkers is set to expire July 1st, 2022. The workers have been negotiating and trying to reach a deal before the expiration date.
Source: Bloomberg. Read the full article here.
- Americans are choosing QSRs (quick-service restaurants) over full-service dining. Inflation and the pandemic could be to blame. Many American households are maxing out their grocery budget for the month and in some cases, it’s cheaper to just go through the drive-thru! Take-out food has been a staple in the American diet over the past two years, as Americans have reportedly been spending more at QSRs since the pandemic started.
Source: Tasting Table. Read the full article here.
- The supply chain is pivoting according to Shalil Gupta, business head, Mosaic Digital. At the Manufacturing Summit 2022, many great minds gathered in New Dehli to discuss the near future of the supply chain. “Now the focus is on manufacturing. Everything has to be technology-driven, and a lot is coming up if you see Industry 4.0, smart factories, etc, who are trying to put the pieces together. If someone can stitch the story together and help understand the gaps, that is going to make that big difference,” said Manish Misra, Chief Innovation Officer, Panasonic India.
Source: Live Mint. Read the full article here.
