Executives Beg Biden To Fix Supply Chain Issues – JP

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Leaders in the retail industry are exhorting President Biden to show “strong leadership” in helping American supply chains return to normalcy.

Matthew Shay — President and CEO of the National Retail Federation — wrote a letter to President Biden, Transportation Secretary Pete Buttigieg, Commerce Secretary Gina Raimondo, and other White House officials that outlines challenges presently facing business leaders.

Shay noted that the recession has placed bottlenecks on ports and shipping processes — a reality that has affected over 97% of American retailers:

Our nation’s supply chains are stressed because of the COVID-19 global pandemic, and they continue to struggle through our economic recovery. We would like an opportunity to discuss the impact these issues are having on the nation’s retailers, our workers and our customers, as well as potential solutions to address current and future disruptions. 

The letter adds that American business leaders are experiencing a host of other obstacles. Roughly 85% of executives report inventory shortages; meanwhile, 70% say that they have added up to three weeks onto their supply chains.

As a result of rising production costs, three-quarters of businesses are raising prices for their consumers. – READ MORE

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Source
Las Vegas News Magazine

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