wood prices increase

The Impact of Surging Wood Prices on Supply Chain Costs

The pandemic-related surge in wood prices has had a dramatic impact on the economy. The surge helped trigger massive price hikes in the housing market and came to symbolize the rampant inflation many economists feared would accompany an economic recovery. It has also driven up some supply chain costs to unprecedented levels.  The surge in prices was caused primarily by a lack of cut lumber, which is wood produced by sawmills for use in everything from building houses to making wooden shipping pallets. In the early months of the pandemic,…

supply chain innovations

Key Supply Chain Innovations

A 100-day Biden administration review  found that global supply chains remain in crisis, even as economies reopen. A pandemic-related worldwide shortage of computer chips has stalled countless production lines, with automobile makers alone projected to lose $100 billion in 2021. A lack of delivery capacity has stranded ships outside ports, inflation is on the rise, and logistics companies struggle to recruit employees as the American workforce reshapes itself in…

Supply Chain Risks

Minimizing Supply Chain Risks

The outlook for the economy looks rosy, fueled by increasing vaccine rollouts and the reopening of communities and businesses. Even the much publicized labor shortage may be a sign of recovery from the pandemic, as many workers leave jobs to find better opportunities elsewhere. Profits for companies are expected to grow by an average of 4% in the next 12 months, while revenues are expected to climb by 5%. Both…

Sustainable Warehouses

Building Sustainable Warehouses for a Greener Supply Chain

As climate change continues to adversely affect everything from weather patterns to the world economy, companies are doing more than ever to implement environmentally sustainable business practices. For companies in the logistics industry, that has generally meant assessing more efficient delivery systems, energy consumption, and eco-friendly vehicle fleets.  Less attention has been paid to the…