Retail inventories haven’t had much luck with stability, either. According to the U.S. Census Bureau, the total business inventory-to-sales ratio recently reached a new low after hitting a record-high earlier this year in April, leaving retailers struggling to streamline their inventory flow in the wake of the coronavirus. Given these pandemic-induced struggles, many are wary of what’s in store for shipping as we head into 2021.
Despite a call for caution, more than 120 shipping giants are working towards decarbonizing the industry, while the impending U.S. Maritime Administrator nominee offers a similar opportunity for reducing global shipping’s carbon emissions. Such environmental initiatives help provide a brief glimmer of hope amid all of the chaotic disruption the industry is currently facing.
With a COVID-19 vaccine likely on the horizon, the massive work now begins for the global supply chain to get it distributed. It’ll perhaps be the biggest, most important, and difficult GLOBAL supply chain challenge, ever!
Here’s a more in-depth breakdown of this week’s curated content: