From Shipping Delays and Supply Shortages to Constrain Firms All Year (Bloomberg)
Companies worldwide expect supply-chain constraints resulting from logistics backlogs and the global semiconductor shortage to continue for much of this year.
In earnings calls this week, firms including Tesla, Sony and shoe company Crocs expressed concerns about the ability to meet demand given ongoing supply-chain bottlenecks. Some said they don’t expect the tight supply environment to be resolved until the end of the year. […]
Tesla Chief Executive Officer Elon Musk said the first quarter presented “some of the most difficult supply-chain challenges that we have ever experienced in the life“ of the company, noting the chip shortage and production challenges in China because of Covid-19 quarantine restrictions.
Meantime, Steven Madden CEO Edward Rosenfeld said freight will be the shoe company’s most significant challenge in the coming months, with ocean rates more than doubling and air freight up close to 200%. He expects port-congestion problems to continue through at least the end of the second quarter.