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Supply Chains Slowly Mend as Texas Firms View Recovery in 2023
Since the COVID-19 pandemic began in early 2020, disrupted global supply chains have strained Texas businesses trying to meet strong demand. Initial supply shortages affecting primarily manufacturers and retailers intensified and broadened, impacting firms across most industries. Many Texas firms don’t expect supply-chain normalization until 2023, though the latest data suggest conditions are improving.
Disruptions Are Expected to Persist, Prompting Some Firms to Rethink Supply Chain Management
Despite business leaders’ expectations that supply chain challenges would have subsided by now, supply chains remain disrupted, in some cases to an even greater degree than earlier in the pandemic. The sources of the disruption reportedly vary from firm to firm and product to product, and they also change from week to week, but business contacts and analysts have argued that limited labor supply, port congestion1 and other transportation bottlenecks, and strong demand for goods each play a role.