The pandemic led to widespread disruptions across the world’s supply chains, leading to inflation and higher prices for many commodities. In response to these increasing costs, some companies have elected to reduce the size of their packaging rather than raise prices. For instance, Walmart shrank its Great Value paper towel rolls from 168 sheets to 120 sheets while the Tillamook County Creamery Association reduced its family sized ice cream containers from 56 ounces to 48 ounces.
“Consumers check the Continue reading
Last week, hackers began a ransomware attack on the Colonial Pipeline, a major conduit that supplies nearly half of the East Coast’s oil. The hack completely shut down petroleum transportation as the Colonial Pipeline Company “proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and affected some of our IT systems.” Although the company expects to have most of its capabilities returned by the end of the week, the shutdown has resulted in Continue reading
At the beginning of the year, we looked at how an explosion in demand for consumer electronics led to a shortage of microchips across the globe. This semiconductor shortfall has continued in the intervening months and its impact has spread across numerous industries. Along with preventing carmakers from installing vital microchips in vehicles, the shortage has also hindered production of iPads, farming equipment, and even dog grooming machines.
“This particular problem affects all aspects of manufacturing, from little people Continue reading
Earlier this week, we looked at how pandemic lockdowns led to increased consumer demand as well as supply chain problems that are delaying deliveries around the world. Large-scale disruptions such as the Suez Canal blockage and the traffic jam at the Port of Los Angeles have resulted in wide-ranging financial damage to all sorts of small operators who cannot get their hands on vital merchandise. For instance, one restaurant in Oklahoma must pay $200 for a case of gloves that Continue reading
In February 2020 during a regular season NBA game, Lebron James performed a two-handed windmill slam dunk that he afterwards said was a tribute to the late Kobe Bryant. A clip of James’ dunk placed side-by-side with a nearly identical one of Bryant’s from 2001 quickly went viral and can be easily found from multiple sources on YouTube. Then again, you could also do what social media entrepreneur Jack Settleman did in January: pay $47,500 for a clip of the Continue reading
The food service industry has been hit especially hard during the pandemic as restaurants and bars try to stay afloat with fewer customers. But while the struggles of the nation’s eateries have received a lot of attention, catering companies have suffered just as much behind the scenes. With restrictions in place that keep gatherings small, not many people need caterers to provide food for their weddings or office parties. As a result, catering companies across the country are laying off Continue reading
At the start of the pandemic, auto companies anticipated a drop in car sales that indeed lasted throughout spring and summer of 2020. As a result, manufacturers cut back on orders of expensive items like microchips while demand remained low. By the end of the year, though, auto sales bounced back quicker than expected, which sent car companies scrambling for supplies. But try as they might, none of the major firms could seem to secure the microchips they needed for Continue reading