Issues persist, pushing up prices of goods, delaying deliveries to customers, and ultimately putting the economic recovery at risk, survey reveals
Supply chain issues continue to hammer manufacturers in Canada, pushing up prices of goods, delaying deliveries to customers, and ultimately putting the economic recovery at risk, according to new research released this morning.
What’s worse, many believe relief is a long way off. Almost half of those surveyed say they don’t expect problems to be resolved until 2023; another 18 per cent say they see issues persisting into 2024 — or later.Article content“Demand for manufactured goods is strong but we are increasingly unable to keep up let alone take advantage of this boom. Labour shortages, supply chain challenges and higher input costs are big problems.
And costs continue to mount. Escalating shipping prices are a big problem for manufacturers, especially when transporting by sea. Eight out of ten firms say delays and higher costs from shipping via boat are major or severe. Transport through the trucking industry doesn’t fare much better. Fifty-five per cent call high costs and delays via trucks major or severe.
Those delays are starting to show up in Canada’s export data. Canadian exports fell sharply in January, Statistics Canada data showed yesterday, as supply chain problems ripple through trade.
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