Nearly 90 percent of businesses with operations at the Fort Lauderdale port Florida are still experiencing supply chain disruptions owing to the COVID-19 pandemic, according to a business survey by a researcher at Florida Atlantic University. Results from the inaugural Port Everglades Economic Engine Performance Index show that nearly 90 percent of survey respondents said they’re still experiencing…
Nearly 90 Percent of Firms Still Experiencing Supply Chain Disruptions, Many Say It’s ‘Severe’: Study
Cisco Expects Revenue Growth as Supply Chain Pressures Ease
Cisco Systems Inc. gave a positive forecast for first-quarter sales as a COVID-19 recovery in China eases supply chain shortages and helps it meet demand for networking hardware, sending the company’s shares 5 percent higher in extended trading. The results announced on Wednesday suggest networking equipment makers have started overcoming the component crunch that had…
Micron Technology Cuts Q4 Outlook, Earmarks $40 Billion in Chip Manufacturing Over the Decade
Micron Technology Inc.’s expectations for CY22 industry bit demand growth for DRAM and NAND have declined amid macro uncertainties and supply chain constraints. Therefore, it expected a challenging market environment in Q4 and Q1. Micron expected Q4 revenue to come at or below the low end of the provided revenue guidance range. Based on the last guidance, Micron…
Entire US Supply Chain Requires Around-the-Clock Operations to Fix Port Delays and Costs
The entire U.S. supply chain, not just its ports, requires 24/7 operations to reduce logjams and out-of-control costs, said U.S. Army Gen. Stephen Lyons (Ret.), the White House supply-chain czar, in an interview with Port of Long Beach Executive Director Mario Cordero on Aug. 9. Lyons, the former commander of the U.S. Transportation Command, took over the…
US Services Sector Picks Up as Supply and Price Pressures Ease
The U.S. services industry picked up in July as new manufacturing orders saw steady increases with 26 consecutive months of expansion, according to the Institute for Supply Management (ISM) survey released on Aug. 4. The survey comes after the Commerce Department reported that the U.S. economy contracted by 1.3 percent in the first half of 2022,…
U.S. Services Sector Picks Up as Supply and Price Pressures Ease
The U.S. services industry picked up in July as new manufacturing orders saw steady increases with 26 consecutive months of expansion, according to the Institute for Supply Management (ISM) survey released on Aug. 4. The survey comes after the Commerce Department reported that the U.S. economy contracted by 1.3 percent in the first half of 2022,…
American Craft Breweries Warn of National Beer Shortage Due to Loss of Key Carbon Dioxide Supplier
There are currently fears across the United States about a looming beer shortage due to a lack of supplies of carbon dioxide, the vital gas that makes the beer fizz. Breweries are facing a critical nationwide shortage of CO2 due to higher material costs, lingering supply shortages, and the temporary shutdown of a carbon dioxide…
Hershey Warns ‘Capacity Constraints’ Will Impact Ability to Meet Consumer Demand This Halloween and Christmas
The Hershey Co. CEO Michele Buck has warned that “capacity constraints” will hinder the company’s ability to meet consumer demand during the Halloween and holiday season. Buck made the comments on a quarterly earnings call with investors on July 28 in which she cited supply chain issues and Russia’s ongoing invasion of Ukraine as reasons for…
Tens of Thousands of Rail Labor Union Workers Vote to Go On Strike
An overwhelming majority of the nation’s oldest rail labor union voted to authorize a nationwide walkout amid stalled contract negotiations that could potentially bring train shipments to a halt as early as July 18. On July 12, Brotherhood of Locomotive Engineers and Trainmen (BLET) members approved the strike by a 99.5 percent margin. The union…
Biden Acts as Tens of Thousands of Rail Labor Union Workers Vote to Strike
President Joe Biden has signed an executive order creating an emergency board to investigate failed contract talks between the nation’s oldest rail workers union and a dozen carriers threatening to shut down rail shipments on July 18. “I have been notified by the National Mediation Board that in its judgment these disputes threaten substantially to…
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