There are several schools of thought regarding the global supply chain dilemma. One school says that things will resolve themselves within a span of months, while other schools are predicting a much longer recovery.
Ron Insana of CNBC writes about his recent visit to Savannah, GA, where he heard from officials in charge of the city’s port, the fourth-largest port in the nation. According to Ron, the port officials aren’t betting on a speedy resolution to the current supply chain issues.
“They believe these issues will dog us into the autumn and, quite possibly, for all of next year. With a massive shortage of dockworkers, truckers, rail capacity and warehouse workers to move goods from port to store shelves, auto showrooms, or even to online distributors, this appears to be a logistical problem not easily solved,” he writes. “As I thought further about the condition of the domestic and global economy, this has all the earmarks or a post-war economy — deferred purchases of good and services, resources redirected to beat back the scourge of Covid-19, and its variants, that are ultimately overwhelmed by pent-up demand that exceeds the ability of the goods and service sectors to deliver their wares to a waiting public.”
From Ron’s perspective, today’s situation resembles the problems we faced in the years following World War II, when pent up demand and rising inflation made some consumer goods hard to buy. Ron suggests launching a 21st-century version the legendary Marshall Plan to mobilize industries and get the flow of goods moving again.
Maybe now is the time for business leaders to come together and devise practical solutions for breaking the logjam and overcoming our supply chain problems. Technology will certainly play a role in this, and I urge tech leaders to join the conversation. I believe we have a vital role to play in restoring our economy, and I confident that we have the knowledge and experience to make a difference.
What are your thoughts? Should tech leaders play a more prominent role in solving supply chain issues? Let me know what you think.
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