Melpomene/Adobe StockThe pharmaceutical and life science industries may have not felt the impact of the on-going trade war between the U.S. and China but with no signs of any compromise, these sectors, too, are preparing for a major supply-chain disruption, according to Supply Chain Brain.
Retail and consumer electronics felt the impact of tariffs almost immediately, but that was not the case for the pharma sector. The reprieve, however, may as well be short-lived.
Not much stockpiling before the new round of tariffs
Gene Seroka, executive director of the Port of Los Angeles, has told Reuters that unlike the last time tariffs came down, this time around importers seemed unwilling to stockpile goods ahead of the U.S. administration’s plan to slap 15% tariffs on phones, toys, and other consumer goods. The much-awaited speech by President Donald Trump on Tuesday offered no solution to the 16-month U.S.-China trade standoff. “Our outlook for the fourth quarter is extremely soft,” said Seroka.
Viewpoint: The need for multi-vendor sourcing as new norm in supply chain
With the markets in turmoil — and one of the main reasons being the trade war between the U.S. and China — global supply chains have, as a result, have been confronting nothing short of upheaval. In a viewpoint piece in Forbes, Matthew Klein makes the case around why a single source of supply is never reliable, and necessary solutions include deploying tech to build multi-vendor sourcing into organizations’ supply chains.
Canada’s Ready Seafood steps up production of lobster products
Canadian firm Premium Brands Holdings’ Ready Seafood has stepped on the gas to increase production at its new U.S. lobster plant in Maine even as high prices have put margins under pressure. “The ramp-up of this facility is going very well and we’re now, without a doubt, the best positioned company in the US to capitalize on the growing demand by both retail and foodservice customers for new and innovative value-added lobster products,” said George Paleologou, president and CEO of Premium Brands.
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