Executive Briefings

Stores Hustle to Get Holiday Goods As Fallout From Hanjin Mess Continues

The last Hanjin Shipping vessel dropping off goods in California has set sail from the Port of Long Beach, finally clearing the many ships left stranded by the company's sudden collapse two months ago. But in its wake, the giant shipping line has left a mess that retailers across the country will be sorting out for weeks.

The South Korean company's bankruptcy is forcing big chains to spend piles of cash to get their goods through ports to warehouses in time for the busy holiday shopping season. Some mom-and-pop shops will have less to offer this year.

And once again, an unexpected disruption has pointed out the intricate links of the supply chain that feeds America's consumer machine.

California's ports took a short-term hit. Long Beach, the nation's second largest port, reported a 15 percent year-over-year drop in import traffic in September. The port of Oakland saw imports decline by 4.2 percent.

For some wholesalers and retailers, the impact continues. Ashley Furniture, which supplies couches, beds and dressers to the likes of J.C. Penney, Target and Wal-Mart, had the misfortune of being on the receiving end of 900 containers set to be transported by Hanjin.

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The South Korean company's bankruptcy is forcing big chains to spend piles of cash to get their goods through ports to warehouses in time for the busy holiday shopping season. Some mom-and-pop shops will have less to offer this year.

And once again, an unexpected disruption has pointed out the intricate links of the supply chain that feeds America's consumer machine.

California's ports took a short-term hit. Long Beach, the nation's second largest port, reported a 15 percent year-over-year drop in import traffic in September. The port of Oakland saw imports decline by 4.2 percent.

For some wholesalers and retailers, the impact continues. Ashley Furniture, which supplies couches, beds and dressers to the likes of J.C. Penney, Target and Wal-Mart, had the misfortune of being on the receiving end of 900 containers set to be transported by Hanjin.

Read Full Article