The supply chain disruption problem does not seem to be going away anytime soon, and so many companies are trying some innovative solutions to help ease the bottlenecks.
From chartering their own container ships to adding more local fulfillment centers, some of the largest retailers are taking drastic measures to speed up the delivery of their products to the marketplace.
With the shortage of shipping containers used on cargo ships, Walmart (WMT) - Get Walmart Inc. Report is switching to larger 53-foot containers and Ikea has purchased thousands of containers of its own.
Coca-Cola (KO) - Get Coca-Cola Company Report has even chartered three “bulk carriers”—a type of cargo ship that mainly transports coal and grain—to carry materials between Asian suppliers and its U.S. factories.
Many companies including Amazon (AMZN) - Get Amazon.com, Inc. Report and Walmart are adding more localized fulfillment centers and Discount Shoe Warehouse (DSW) - Get Designer Brands Inc. Class A Report is re-purposing some of its closed stores as fulfillment centers.
The increased use of automation in production and updated supply chain tracking software, including the introduction of an electronic bill of lading standard, are streamlining the delivery process and minimizing inefficiencies in many companies.
Related: Logistics in a Post-Pandemic World