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Last week’s government report, from the Office for National Statistics (ONS), revealed the full extent of tumbling stock levels and broken global supply chains in the wake of Brexit and the Covid pandemic.
‘Stock and Supply Chain issues in the UK’ looks at the impact of Brexit, Covid, the blockage of the Suez Canal and other problems.
The report states that that “over recent years, the EU exit, coronavirus (COVID-19) pandemic, higher energy and commodity prices, and events such as the blockage of the Suez Canal have presented businesses with significant challenges when acquiring and maintaining their stock.”
The ONS said that: “As a result of these challenges, the UK has experienced increased business uncertainty, supply chain issues across a variety of materials and products arising from worldwide shortages, and rising inflation.”
Following these findings, some industry leaders say ‘reshoring’ – bringing manufacturing back to the UK – will help avoid the impact of stretched global supply chains finally snapping.
The report reveals the full extent of manufacturing and retail problems, argued David Jinks, head of consumer research at international delivery firm ParcelHero.
Jinks told City A.M. that manufacturers, retailers and their delivery and logistics partners will need to plan for a growth in reshoring (returning manufacturing back to the UK) as global supply chains break apart....
more at City AM