Big Technology Podcast Is A Healing Supply Chain Fixing Our Economy? — With Ryan Petersen
Nov 23, 2022
Ryan Petersen, Founder and Co-CEO of Flexport, dives into the evolving landscape of the supply chain and its impact on inflation. He discusses the significant drop in shipping rates and how it aligns with decreasing inflation, reshaping consumer habits. Explore insights into how globalization and deglobalization affect trade, the prioritization of experiences over material gifts during the holiday season, and the environmental sustainability of shipping practices. Petersen also shares unique approaches like silent meetings that enhance communication in the logistics industry.
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Shipping and Inflation
- Shipping costs heavily influence the price of goods, impacting inflation.
- Decreases in shipping rates are mathematically linked to cooling inflation, especially for imported consumer goods.
Shipping Market Volatility
- Shipping rates have returned to long-term historical averages after extreme fluctuations.
- The shipping market is volatile, with periods of extremely cheap and expensive rates.
Pandemic Spending Shift and Shipping
- The pandemic spending shift from services to goods, fueled by cash from refinancing and stimulus, drove up shipping demand.
- This trend reversed as people resumed travel and services, leading to lower shipping volumes and prices.