Money Talks: Supply chain reactions
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 15 June 2022
⏱️ 41 minutes
🧾️ Download transcript
Summary
More than two years after the pandemic, supply chains are still snarled. Shipping times remain at record highs. Baby food, tampons, and semiconductors are all scarce. Companies are still struggling to answer a basic question: just when will all of this end? But one thing seems clear: after years of anxious speculation, the structure of the world’s supply chains have fundamentally changed.
On this week’s Money Talks, hosts Soumaya Keynes, Mike Bird and Alice Fulwood go on a journey to find out what’s still leading to delays and investigate the big shifts that will continue long after shelves are finally full. They’re joined by Audrey Ross, import and export compliance manager at Orchard Custom Beauty and Chris Rogers, principal supply chain economist at Flexport, who talk about the factors that are still gumming up delivery of goods. Then, Michael Wax, co-founder of Forto, explains why digitising the industry could help speed up shipping times. Finally, our US business editor Charlotte Howard unpacks what all of this will mean for supply chains in the future and why the old system might be finished.
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Transcript
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| 0:00.0 | When you own a small business, busy is music to your ears. |
| 0:06.0 | Busy means you're hopefully driving lots of... |
| 0:08.0 | But what if with every American Express was busy too? |
| 0:12.0 | Helping you promote your business? |
| 0:14.0 | Or bringing in new customers who spend a little more? |
| 0:16.0 | What if they also gave your customers rewards when they spend with you? |
| 0:20.0 | Yep, you'd get even more... |
| 0:22.0 | Busy is good for business. |
| 0:24.0 | We'll be with you on that. |
| 0:26.0 | Such accept amics today. |
| 0:28.0 | Enrollment-guided 18-plus season's he's applied. |
| 0:56.0 | at investpr.org. |
| 0:58.0 | Game changers, welcome home. |
| 1:10.0 | A lipstick will move from Shanghai Port to Prince Rupert Port |
| 1:14.0 | and then it'll load onto the rail and then it'll come into Toronto. |
| 1:16.0 | Audrey Ross is the important export compliance manager |
| 1:20.0 | at Orchard Custom Beauty. |
| 1:22.0 | She spends her time making sure lipsticks and beauty powders |
| 1:26.0 | and all sorts of products make it from factory floors to customers around the world. |
| 1:32.0 | The past two years haven't been easy. |
| 1:36.0 | It's been a bit chaotic. |
| 1:38.0 | It's probably been the hardest I've had to work in this industry in my life. |
... |
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