The supply chain crisis could last up until 2023, Associated British Ports (ABP) – the UK’s biggest port operator – has warned.
ABP’s chief executive Henrik Pedersen, told the Sunday Times: “When you have congested container ports around the world, it takes a very long time to turn it around. We have a shortage of truck drivers in the UK, and in other countries too, so the problem is in the shipping leg and the road leg.”
The global supply chain crisis is not only affecting the shipping industry but it’s also undermining the country’s economic growth, City A.M. reported.
The Office for National Statistics (ONS) said recently the British economy has expanded 1.3 per cent between July and September, down 5.5 per cent compared with the previous three months. The ongoing issues and a scarcity of workers have also caused the country to fall behind other G7 nations such as France and Italy.
Supply chain worries are shared also by consumers, with 90 per cent of Brits worried these issues are here to stay.
“Supply-chains are global but the technology is available to manage them from anywhere in the world, predicting disruption in order to get ahead of it, and keeping customers updated in real-time,” Oracle’s EMA, consulting, business transformation chief customer office Emma Sutton said.
