COVID continues to snarl global supply chains. Inventories are low. Prices are high. Shipping delays are rife. Average price worldwide to ship a 40-foot container overseas hit $8,796 on July 8, up 333% from 2020 (source: Drewry Shipping Consultants Ltd). June trucking rates were up 15% from last year (Labor Dept.) while prices at freight forwarders/customs brokers were up 58%. Only 39% of container ships around the world arrived on time in May versus 75-80% the last two years (Sea-Intelligence). The total business inventory-to-sales ratio of 1.25 for June remained near record lows since tracking began in 1992 (FRED data; St. Louis Fed). Companies were already ordering for 4Q20/1Q21 in June due to supply chain fragility. If you want to improve your supply chain, MOSIMTEC simulation modeling can help. Shine a bright light on the status quo. Explore new sources, ways to increase manufacturing/supplier capacity or reduce shipping cost/delays, and options to improve processes with ports and transporters. Assess multiple options virtually in a sandbox environment to raise production/inventory, cut cost, enhance fluidity, reduce risk or meet other goals. Supply chain success is key to survive and thrive. MOSIMTEC industrial engineers/data scientists can help with your supply chain simulation. #modelingandsimulation #covid19 #supplychain Read more here: https://www.wsj.com/articles/time-is-money-for-companies-facing-transport-snarl-11626269933