5 Things You May Have Missed in Supply Chain News
Welcome to our series where we give you the scoop on five things you may have missed in supply chain news. You can also catch the full rundown from our Blue Yonder Live video:
1. Will your 4th of July be a boom or a bust?
Many cities across the U.S., including Phoenix and Minneapolis, are cancelling their fireworks displays this year because of staffing shortages and supply issues. The majority of fireworks are manufactured in China, and between the COVID-19 shutdowns and sky-high shipping costs, most importing American cities either can’t get the fireworks supply or can’t afford it. To add insult to injury, there’s a meat shortage, which may affect your holiday grilling plans.
2. The worker shortage will affect your summer vacation
We’ve all heard about the worker shortage throughout the COVID-19 pandemic, but it’s about to disrupt your summer vacation. With over 11.4 million job openings in the U.S. — many of which are in travel in leisure — the worker shortage is affecting every aspect of travel, including airports, rental cars, convenience stores, hotels, and entertainment. Read more in our blog post How the Worker Shortage Might Affect Your Summer Vacation Plans.
3. U.S. power companies are facing a supply chain crisis this summer
Extreme weather events such as storms, wildfires and drought are becoming more common in the U.S., but supply chain issues are making it difficult for power companies to complete needed repairs. With consumer power consumption expected to be at an all-time high this summer, federal agencies are warning of reliability issues, like those we saw in Texas in mid-May and in Ohio in mid-June.
4. New car quality fell by a record amount
If you’ve tried purchasing a vehicle in the last year, you know the market is sparse because of the microchip shortage and the worker shortage. But it turns out, if you’re able to buy a new car, you might not be too happy with it. JD Power recently shared that new car quality fell 11% this year, a record in the company’s history. Before this year, the most decline ever seen in a year was 3%.
5. Beyoncé will disrupt the supply chain
With the release of the lead single “Break My Soul” off her upcoming solo album Renaissance, we predict Queen Bey will disrupt the supply chain in several ways, including CDs and CD players. With vinyl records already in short supply, Beyoncé is promoting her latest effort on compact disc, which we predict will become a trend amongst other artists — thus creating a new supply chain shortage of CDs and CD players. Find out more about the disruptions Beyoncé will cause in our blog post 3 Ways Beyoncé’s “Renaissance” Will Disrupt the Supply Chain.