The Strategist

CNBC: Supply chains won't recover until at least 2024

12/26/2022 - 09:11

Major U.S. corporations' logistics managers were surveyed by CNBC, and the majority of them said that they didn't think the world's supply chains would function well until at least 2024.

GPA Photo Archive
GPA Photo Archive
The journalists surveyed 341 managers from American businesses included in the National Retailers Federation (NRF), the American Apparel and Footwear Manufacturers and Retailers Association, and other large professional associations.

61% of supply chain managers claim that their networks are still not operating normally. 32% of managers said that their companies have recovered their supply chains in part. When asked when they thought these chains would fully recover, 19% of managers responded that they thought it would happen in 2023, 30% said it would happen in 2024, and 29% of respondents indicated it wouldn't happen until 2025 or not at all.

Furthermore, 59% of managers said that the Biden administration was ignorant of all supply chain difficulties. The largest logistical difficulties, according to the managers, include a lack of raw materials, congestion in ports, a lack of competent workers, and a lack of storage space because of expanding inventories.