2021 has left the pressure sensitive label industry in complete and utter chaos.
Shipping costs and freight rates are soaring. Soaring freight rates, cargo container shortages, and port congestion have driven up shipping costs. Lead times have extended so far out, they are unknown.
A rising need for pulp and paper has far exceeded supply and demand, escalating raw material costs. Packaging supplies like sealing tape, stretch film, and ribbon are seeing price hikes to the moon.
We know these disruptions mean big problems for the label industry, but what do they really mean for everyday people?
Well, someone has to pay when the cost of goods increases. Up until now, manufacturers and suppliers have been absorbing these additional prices. But they can’t anymore. Now those rising prices are making their way to you and your wallet.
Drawbacks with freight means that need-to-buy items you’re looking for will either be low in stock or completely unavailable. The wait time for shipping for items you want will range anywhere from weeks to months. And there’s no end in sight.
Each leg of the supply chain has taken a massive blow, and the hits just keep coming.
Source:- https://www.smithcorona.com/blog/2021-supply-chain-chaos/
