The Forgotten Shipping Pallet Stages a Pandemic-Era Rally
Bloomberg 5 hrs ago
(Bloomberg)
After carrying the weight of the global economy since World War II with little fanfare, the lowly shipping pallet is finally commanding some respect.
Demand for the platforms used to haul nearly every consumer good or industrial ingredient is soaring amid a surge in e-commerce, forcing retailers and manufacturers to expand warehouses or pile inventories higher. At the same time, two keys to production cheap lumber and labor are scarce, and even nail costs are rising.
The result: Pallet prices have hit record highs, according to a U.S. Labor Department index, and European gauges show big jumps from the U.K. to Germany. The market may stay hot through the peak construction season in the springtime and as Covid-19 vaccines help revive restaurants and event venues adding to inflationary pressures rippling across supply chains.
The forgotten shipping pallet stages a pandemic-era rally
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The forgotten shipping pallet is staging a pandemic-era rally
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Oracle
Experts throughout the supply chain stress how the Coronavirus disease (COVID-19) pandemic has fast-tracked numerous emerging trends, one of the most important being sustainability. As more and more executives see the value in endorsing strategies aligned with sustainability, it becomes more prevalent throughout the supply chain. While ethically, many may think it is the right thing to do, monetarily- and resiliency- wise it can be the best decision. The Fourth National Climate Assessment, released in 2019, showed that the U.S. economy is projected to decline 10% by the year 2100 due to effects from climate change. The report also noted that import and export prices for U.S. businesses will see drastic increases.