WEBVTT - America’s Broken Supply Chain

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<v Speaker 1>It's Monday, October eleven. I'm Oscar Mirrors from the Daily

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<v Speaker 1>Dive podcast in Los Angeles, and this is reopening America.

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<v Speaker 1>America's supply chain is broken, and there's no better example

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<v Speaker 1>than looking at all of the ships sitting off the

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<v Speaker 1>coast of California. The pandemic has caused the major shift

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<v Speaker 1>in consumer spending, and it triggered a huge influx of imports,

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<v Speaker 1>and it's all bottleneck due to a lack of coordination

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<v Speaker 1>and worker shortages. Ships are at ports waiting to be unloaded.

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<v Speaker 1>Not enough workers there can offload containers in a timely manner,

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<v Speaker 1>and a shortage of truck drivers is delaying shipments to

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<v Speaker 1>the rest of the country. This all results in price

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<v Speaker 1>hikes for everyone and possible shortages for holiday shopping. David Lynch,

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<v Speaker 1>global economics correspondent at the Washington Post, joins us for

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<v Speaker 1>the broken supply chain. Thanks for joining, David, Sure, let's

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<v Speaker 1>talk about the supply chain. You know, throughout the pandemic,

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<v Speaker 1>pretty much every industry had been hit very hard. Supply

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<v Speaker 1>chain issues were popping up all over the place. I

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<v Speaker 1>think the country kind of started getting a better understand,

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<v Speaker 1>ending an education on what was going on. We were

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<v Speaker 1>seeing backlogs, you know, from everything, right the great toilet

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<v Speaker 1>paper shortage and how manufacturing will slow down. But right

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<v Speaker 1>now what we're seeing is that problem continuing to persist.

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<v Speaker 1>And one of the key things that everybody's seeing is

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<v Speaker 1>all of these shipping containers off the coast of California

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<v Speaker 1>with tons of containers on them, just waiting waiting to

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<v Speaker 1>be moved inland, waiting to be shipped across the country.

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<v Speaker 1>And we're just seeing how everything's been clogged up. Nobody

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<v Speaker 1>really knows how to fix it. We're seeing shortages of

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<v Speaker 1>truck drivers, all sorts of things really compounding on top

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<v Speaker 1>of each other. So David, help us walk through with

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<v Speaker 1>how the supply chain has been broken so badly. Sure, well,

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<v Speaker 1>it's as you said, this has been going on really

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<v Speaker 1>since the beginning of the pandemic, when Chinese factories shut

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<v Speaker 1>down during the initial lockdowns to try and beat back

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<v Speaker 1>the virus, and the disruptions that started from that, they

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<v Speaker 1>have just been rippling through. Uh. You know, we Americans

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<v Speaker 1>have been trapped in our homes, so many of us,

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<v Speaker 1>for much of the last year or so, and so

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<v Speaker 1>rather than spending money at restaurants, ballgames, movie theaters. We

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<v Speaker 1>were spending it on stuff. Everybody was buying a new

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<v Speaker 1>iPhone or a laptop, or a desk so they could

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<v Speaker 1>work from home, or a new furniture to make the

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<v Speaker 1>house more comfortable. And all that stuff comes from China

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<v Speaker 1>and Southeast Asia by large, and so the normal seasonal

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<v Speaker 1>patterns have been completely disrupted. That means a lot of

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<v Speaker 1>the equipment that's needed once the shipping containers get onto land,

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<v Speaker 1>the trucking, the chassiss you know, really every piece of

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<v Speaker 1>the of the chain has been discombbulated, has been put

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<v Speaker 1>out of sync. And this system is designed to work

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<v Speaker 1>like runners in a relay. I run my lap, then

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<v Speaker 1>I handed baton to you. You run your lap, et cetera.

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<v Speaker 1>When I'm done with my lap. If you're not, they're

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<v Speaker 1>waiting to take the baton. We've got a problem, Yeah, definitely.

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<v Speaker 1>I you know, obviously we know how big of a

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<v Speaker 1>shift the pandemic was. Right things stopped in its tracks

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<v Speaker 1>and are spending habits changed just that quickly. And as

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<v Speaker 1>you said, you know, the more demand for all that stuff,

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<v Speaker 1>whatever it was, you know, started kind of exposing all

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<v Speaker 1>of the problems in that supply chain. Ruining that relay race.

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<v Speaker 1>As you just said. Okay, so let's talk about the

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<v Speaker 1>US and how we handle this stuff. It seems like

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<v Speaker 1>we've never been particularly good at the flow of this,

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<v Speaker 1>at least when it comes to coordination and information sharing,

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<v Speaker 1>and that's part of the big problem why things are

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<v Speaker 1>so backloged. On the one hand, the system does a

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<v Speaker 1>pretty good job of working under normal conditions pre pandemic,

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<v Speaker 1>none of us had much trouble getting our hands on

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<v Speaker 1>the stuff we wanted. But relative to an optimal system,

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<v Speaker 1>for instance, comparing of US port to a top line

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<v Speaker 1>port in Europe or Asia, we're we're not where we

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<v Speaker 1>should be. You know, for a country that prides itself

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<v Speaker 1>on high technology, we don't have fully deployed the sort

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<v Speaker 1>of seamless information systems, databases, all the high tech wizardry

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<v Speaker 1>that would allow everybody who's involved though on the supply

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<v Speaker 1>chain to see the same information at the same time,

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<v Speaker 1>to be able to track containers, to track equipment, so

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<v Speaker 1>that everybody has full visibility into what's happening. We're not

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<v Speaker 1>as good at that right now as others are. And

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<v Speaker 1>some of that's because the data privacy concerns competitive concerns.

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<v Speaker 1>If I'm a retailer, I might worry that if if

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<v Speaker 1>you that you know, at the ports, have full visibility

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<v Speaker 1>into what I'm ordering and when it's coming, you know,

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<v Speaker 1>that might be useful information for my competition to have.

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<v Speaker 1>There are ways around that, but we need What experts

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<v Speaker 1>tell me is we need to get beyond those concerns,

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<v Speaker 1>resolve them, and put in place the sort of systems

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<v Speaker 1>that others already have deployed. Right now, we're seeing a

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<v Speaker 1>huge backlog on the West sports in l a Long Beach.

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<v Speaker 1>All that is this happening all over the country. Why

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<v Speaker 1>are we seeing this mostly off the coast of California, Well,

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<v Speaker 1>because that's where that's where cargo from Asia lands in

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<v Speaker 1>the US. That so all the all the factories in

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<v Speaker 1>coastal China, Vietnam, Cambodia, Southeast Asia, across that part of

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<v Speaker 1>the world. When container ships pick up the cargo there,

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<v Speaker 1>they take it to l a Long Beach to a

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<v Speaker 1>lesser extent, as those ports have gotten crowded, they move

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<v Speaker 1>up the coast to Oakland and Seattle. But those facilities

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<v Speaker 1>are are farther away from the consumer heartland and they're

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<v Speaker 1>not as as big as l A and Long Beach.

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<v Speaker 1>Now you are seeing the port of Savannah, for instance,

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<v Speaker 1>has got a lot of ships waiting offshore. Nothing like

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<v Speaker 1>l A, but relative to Savannah's normal operations, they're seeing

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<v Speaker 1>a lot of demand. Uh and up to New York

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<v Speaker 1>as well, even Houston. Some of the ships that were

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<v Speaker 1>diverted through the Panama Canal that would have normally have

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<v Speaker 1>gone to the West Coast that came up through the

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<v Speaker 1>canal and and hit our Gulf ports ports there. So

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<v Speaker 1>you've seen the congestion spread in that regard. You know,

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<v Speaker 1>this is an unusual obviously an unusual episode, but it's

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<v Speaker 1>exposed some some vulnerabilities in the system that need to

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<v Speaker 1>be addressed going forward. You made note in the article

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<v Speaker 1>the US is importing a historic amount of goods and

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<v Speaker 1>that l A Port is expected to handle a record

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<v Speaker 1>ten point eight million containers this year's I mean, obviously

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<v Speaker 1>that's just a ton. Let's talk about costs, because cost

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<v Speaker 1>of all the shipping stuff has gone up tremendously. Twenty

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<v Speaker 1>dollars for a container. You made mention that it's twice

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<v Speaker 1>what it costs in July, and that's twice what it

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<v Speaker 1>costs in January. So the prices of shipping have gone

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<v Speaker 1>up exponentially, and it's obviously affects smaller companies more than

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<v Speaker 1>bigger players like you know, Walmarts and stuff that can

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<v Speaker 1>absorb those costs a lot easier. Yeah, exactly. I mean,

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<v Speaker 1>if you're if you're a Walmart or an Amazon or Costco,

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<v Speaker 1>you're able to sign long term, annual contracts with the

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<v Speaker 1>ocean carriers, and because you bring them so much business,

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<v Speaker 1>you're going to get a decent rate, and you're almost

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<v Speaker 1>more importantly, you're going to have certainty that your stuff

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<v Speaker 1>is going to get on their boats. If you're a

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<v Speaker 1>smaller guy who's importing a hundred containers in the course

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<v Speaker 1>of a year rather than hundreds of thousands of containers,

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<v Speaker 1>then you're just not as important to the carriers, and

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<v Speaker 1>so you might get bumped off a vessel as the

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<v Speaker 1>carriers have had to skip sailings because their boats are

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<v Speaker 1>getting tied up. All those ships that are waiting off

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<v Speaker 1>the coast of l A. They should be already on

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<v Speaker 1>their way back to get more stuff out of China,

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<v Speaker 1>but they're not in position to do that. So somebody's

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<v Speaker 1>got to lose out. It's not gonna be Walmart. It's

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<v Speaker 1>gonna be a little guy that forces the little guy

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<v Speaker 1>into the spot market where he's got to pay through

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<v Speaker 1>the nose. It's like trying to get to a ball game.

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<v Speaker 1>You buy the tickets at the beginning of the season,

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<v Speaker 1>you get one rate. If you want to buy a

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<v Speaker 1>World Series ticket the day of the game standing outside

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<v Speaker 1>the stadium, you're gonna have to pay a scalper and

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<v Speaker 1>that's going to cost more. Tell me a little bit

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<v Speaker 1>about just in time production, because I know that figures

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<v Speaker 1>into a lot of the way companies operate. It helps

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<v Speaker 1>them keep inventories and costs low. But when things get

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<v Speaker 1>backlogged like this, you know it really you know, we

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<v Speaker 1>start seeing some weaknesses in that. And you know sometimes

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<v Speaker 1>businesses have to turn down companies have to turn down

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<v Speaker 1>business because they can't get the right ingredients equipment to

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<v Speaker 1>to complete their orders and stuff. Yeah, that I mean,

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<v Speaker 1>we've we found that in talking to companies out in

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<v Speaker 1>the Midwest to have their operations set up and and

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<v Speaker 1>this is you know, this was a great innovation because

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<v Speaker 1>it brought tremendous efficiency to production. Instead of keeping enormous

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<v Speaker 1>stockpiles of material around, if you do that you've got

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<v Speaker 1>to pay to store them. He's got to pay. He

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<v Speaker 1>has already purchased the stuff, but you're not getting paid

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<v Speaker 1>for your goods yet. So just buying sort of as

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<v Speaker 1>much as you need to produce this week's output or

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<v Speaker 1>this month's out was a great innovation, but again it

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<v Speaker 1>was efficiency at the cost of resilience. And so when

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<v Speaker 1>something goes wrong, and the pandemic isn't the only thing

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<v Speaker 1>that's ever gone wrong in history. We've had bad weather

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<v Speaker 1>in Texas which knocked offline at pro chemical plants that

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<v Speaker 1>produce a certain kind of resin that's needed for lots

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<v Speaker 1>of industrial plastics. We've had earthquakes, we've had fires. All

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<v Speaker 1>sorts of things can go wrong, and when they do,

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<v Speaker 1>and when they disrupt this finally calibrated supply chain, that's

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<v Speaker 1>when the problems arise. Let's talk about one of the

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<v Speaker 1>last cogs in this whole supply chain, which is the

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<v Speaker 1>truck drivers, which we've seen shortages of two. But you know,

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<v Speaker 1>as we've been talking about, right there's backlogs at the ports.

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<v Speaker 1>It takes time to get those containers unloaded and onto trucks,

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<v Speaker 1>and what we're seeing is just a big backlog of

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<v Speaker 1>truck drivers awaiting hours to get into the ports to

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<v Speaker 1>get those containers out of there. You talked about one

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<v Speaker 1>man who was a truck driver, and in normal circumstance,

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<v Speaker 1>he can make seven round trips and an eleven hour

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<v Speaker 1>work day to get those containers out of there. Now

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<v Speaker 1>he's just doing one or two trips and spending time.

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<v Speaker 1>I think he learned salsa looking at YouTube videos or something.

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<v Speaker 1>That's all the time he's kind of wasting just sitting

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<v Speaker 1>there waiting to get in and out. And the important

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<v Speaker 1>thing here is the way all of these disruptions feed

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<v Speaker 1>on themselves. Right, he can't get in and out of

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<v Speaker 1>the rail yard as quickly as he'd like to to

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<v Speaker 1>pick up containers because the rail yard is jammed with containers,

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<v Speaker 1>and they're jammed with containers because the porch are dealing

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<v Speaker 1>ultimately with record volume and sending in more stuff to

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<v Speaker 1>the rail lyard than they can process. That discourages the trucker. Uh.

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<v Speaker 1>It discourages others from getting into truck driving because they

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<v Speaker 1>look at what's going on and they said, well, jeez,

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<v Speaker 1>you know that's not easy money. I'm gonna do something else. Uh.

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<v Speaker 1>And as you say, that you know, the trucker we

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<v Speaker 1>profiled uh is wasting so much time that he's you know,

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<v Speaker 1>he's listening to audio books and he's uh watching Conan

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<v Speaker 1>O'Brien comedy bits uh and and even learning how to

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<v Speaker 1>dow to dance. This's also by watching YouTube videos. But

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<v Speaker 1>but the trucking situation is a tough one because you know,

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<v Speaker 1>the trucking companies tell me that they're having a hard

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<v Speaker 1>time getting young guys to come into the business because

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<v Speaker 1>you know, it's it's a tough way to make a living.

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<v Speaker 1>And you know, the short haul guys, that's one thing,

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<v Speaker 1>but those long haul drivers, when you're away from home

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<v Speaker 1>four or five nights uh in a row, a lot

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<v Speaker 1>of guys don't want to do that. Yeah. And finally,

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<v Speaker 1>you know what we've been hearing right start buying your

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<v Speaker 1>Christmas presents early. The holiday shopping season is going to

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<v Speaker 1>be rough, low supply, higher prices. Um. You know, people

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<v Speaker 1>are saying that these headaches, these supply chain headaches are

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<v Speaker 1>gonna last through Yeah this and you know these are

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<v Speaker 1>problems that early on in the pandemic, people were saying, Okay,

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<v Speaker 1>maybe it's gonna be a quarter or two uh, and

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<v Speaker 1>then we'll be back and sink. Now it's it's clear.

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<v Speaker 1>You know, it was all last year, it's all of

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<v Speaker 1>this year, and it may well be all next year

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<v Speaker 1>for the holiday season. Uh. Yeah, I wouldn't. I would

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<v Speaker 1>wait around. Uh. You know, I don't think this is

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<v Speaker 1>going to be the apocalypse. I don't think people are

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<v Speaker 1>going to go to stores uh and find you know,

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<v Speaker 1>completely barren shelves. But if you've got your heart set

0:12:20.000 --> 0:12:23.839
<v Speaker 1>on a particular toy or a particular piece of electronics,

0:12:24.080 --> 0:12:26.719
<v Speaker 1>I'd start looking forward early because there's no guarantee it's

0:12:26.720 --> 0:12:28.560
<v Speaker 1>going to be there, you know, if you wait till

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<v Speaker 1>the last minute. David Lynch, Global economics corresponding at the

0:12:32.760 --> 0:12:36.440
<v Speaker 1>Washington Post, thank you very much for joining us anytime.

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<v Speaker 1>I'm Oscar Ramirez, and this has been reopening America. Don't

0:12:42.120 --> 0:12:44.480
<v Speaker 1>forget efforts days big news stories. You can check me

0:12:44.480 --> 0:12:47.240
<v Speaker 1>out in the Daily Dive podcast every Monday through Friday.

0:12:47.400 --> 0:12:49.720
<v Speaker 1>So follow us on I Heart Radio or wherever you

0:12:49.760 --> 0:12:50.600
<v Speaker 1>get your podcast