Another Wave In The Supply Chain Crisis Hits As New China Lock Downs And Ukraine Threaten Global Supply

Another Wave In The Supply Chain Crisis Hits As New China Lock Downs And Ukraine Threaten Global Supply

"The entire supply chain is under tremendous stress right now. We're dealing with a cascade of ... [+] disruptions which is adding stress beyond what it's already under," says Abe Eshkenazi, Association for Supply Chain Management. (Photo by Hector RETAMAL / AFP) (Photo by HECTOR RETAMAL/AFP via Getty Images) Despite dire warnings about product shortages impacting holiday retail sales, American consumers found plenty to satisfy their needs. Retail sales for the year advanced a record 14% year over year, reaching $4. 47 trillion excluding autos, auto parts stores and gas stations, reaching a 20 year high. Yes, shoppers have been forced to get used to spot product shortages – retail inventory levels remain 2% under 2019 levels, but 4% over 2020 – and everything costs more, but they entered the new year believing the worst of the pandemic was behind them and things were slowly but surely getting back to normal. However, the latest news out of China suggests otherwise. China reports that Covid case rates are growing, reaching levels not seen since early 2020. This resulted in the lockdown of Shenzhen and the entire province of Jilin, including its capital Changchun, with no advance notice. So far these shutdowns