I started watching this video in order to find out about the global supply chain related to Red Sea Crisis, but instead video ended up being a couple of guys gabbing about who's a c suite executive at which company.
It would have helped to point out that shipping costs and shipping rates have an inelastic demand curve. That is, even if the route is 25% longer, this may have very little effect on the final price of the product. Why? Because shipping costs are so low, for almost all products, a small increase in the shipping cost has very little effect on the final cost.
Insightful insights on the Red Sea crisis' impact on the global supply chain. Flexport's CEO highlights the industry's challenges, essential for optimizing operational efficiency in our evolving landscape. Collaborating with seasoned partners adept at navigating such challenges could offer invaluable perspectives. Adapting swiftly in these times often calls for strategic support behind the scenes.
Inflation cost $$$$ are set to increase in 2024 if this continues for even a little longer. Supply chain crunch is already slowly beginning to increase prices and delay estimated delivery and pick up times.
