Challenge: Due to market volatility, seasonality and unforeseen delays on the road, a shipper was left with limited and expensive transportation options.
Most U.S. factories in China’s manufacturing hub around Shanghai will be back at work this week, but the “severe” shortage of workers due to the coronavirus will hit production and global supply chains.
Analyst Insight: A quiet revolution is taking place within one of the slowest industries to embrace radical new technology. Until now, the construction industry has had one of the worst records for productivity, quality and predictability. Meanwhile, manufacturing sectors such as automotive, aerospace and discrete manufacturing have long been using modern techniques such as interchangeability of component parts, “right first time” for quality, and just in time for supply-chain integration.
The world’s top steelmaker is wrestling with the effects of the deadly, rapidly spreading virus that’s seen impacting labor, logistics and demand across China.
As the death toll from the pneumonia-like illness rises and cases are found in more Asian countries, as well as in the U.S., the economic impact of the novel coronavirous could be widespread.
Americans are paying almost the full cost of U.S. tariffs, and the impact of those duties on import volume magnifies over time, according to the National Bureau of Economic Research.