The British Columbia port strike might be over, but it could take three to five days for supply chains to recover for each day the port was shuttered, the Railway Association of Canada estimates. Some industry experts say it could take even longer.
The International Longshore and Warehouse Union Canada and the B.C. Maritime Employers Association agreed to a tentative four-year deal on Thursday morning, ending a 13-day shutdown of more than 30 ports in B.C., including Canada's largest, the Port of Vancouver.
Cross Country Checkup wants to know, whether it's self-checkout or receipt checks, what is your shopping experience like right now? Fill out the details onlasting 10 days, there was a backlog that took three months to clear, said Christina Santini, executive director of the Canadian Federation of Independent Business.WATCH | The B.C.
"Vancouver handles 43 per cent of the cargo that's shipped into Canada via the port system.… It's a gateway to the East," said Fraser Johnson, a professor of operations management at the Ivey School of Business at Western University in London, Ont.Nutrien Ltd., which produces potash, reduced production at its Cory potash mine in Saskatchewan because of "loss of export capacity" associated with the port closures.
"These goods are delayed," he said. "This has caused some revenue losses and some sales losses to businesses but … I reckon that these losses are still quite manageable. "Inflation's affecting everyone — not just individuals, but also businesses," she said. "They're losing out on sales because they're not getting the materials they need to make those sales or to deliver the services they would need to do."
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