With today’s global processes to create some goods, a disruption in one part of the world can topple production.
“The production process today is more fragmented and is more complex than what it was several decades ago,” said economist Ana Maria Santacreu. Santacreu, a Federal Reserve Bank of St. Louis research officer, discussed the processes in a January 2022 Timely Topics podcast episode, “How Broken Supply Chains Affect Inflation.”
You’ve likely heard a lot about supply chain disruptions in recent years. It’s issues in these complex production processes spanning the globe that contributed to unexpected delays for businesses and consumers after the COVID-19 pandemic was declared. And nearly three years later, how long it takes for you to get your hands on the product of your desire could still be affected.