Supply Chain Issues Plague U.S. Businesses. An Expert Explains How It’s Impacting You
The country may be recovering from the economic impacts of the pandemic, but now new issues with backlogs of shipping containers at ports across the country, labor shortages and supply chain problems are causing higher prices. Families around the nation are having to modify their budgets due to increasing prices on goods ranging from gasoline to groceries to items needed for manufacturing. “The backlog of goods basically affects the time it takes for consumers to receive products for retailers first to receive products to put on the shelves,” Axel Stock, an associate UCF professor of marketing said. Stock said prices tend to go up when a product can’t be delivered.
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