Most CEOs expect supply chain pressures to continue into next year, with potential ramifications for jobs, profits and prices.
Two out of three businesses have been hit by supply chain chaos this year and most do not expect the situation to improve until 2023, with potential ramifications for jobs, profits and prices.report on supply chain pressures found 52 per cent expected import disruption to continue into next year.
However, AiGroup warned this strategy could have damaging flow-on effects because increased costs of warehousing and capital requirements might lead to less investment in new jobs, training and innovation, and a lower likelihood that businesses would pursue new markets. “These pressures can undermine our economic recovery from the pandemic and ultimately dampen economic growth.”during the pandemic as a result of increased demand for goods, lengthy lockdowns and infection of workers, global shortages in shipping containers, port skipping and fewer shipping services, rising freight costs, and Australian industrial action.
She highlighted port strikes as the biggest reputational issue for Australia, saying the industrial action had “severely tarnished” the country for shippers this year.
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