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Distributor's Link Magazine Fall 2024 / Vol 47 No 4

106 THE DISTRIBUTOR’S

106 THE DISTRIBUTOR’S LINK CHRIS DONNELL THE STRAINS OF GLOBAL SUPPLY CHAIN from page 38 in order to keep their vessel and global supply chains moving. Ocean rates into the United States would skyrocket, especially to the East and Gulf Coasts. Capacity to the West Coast ports would dry up and congestion would reach stratospheric levels. The impact at the origin would be significant, however, many importers are already taking action to shift their volumes from the East and Gulf coasts and routing them through the West. We are seeing capacity constraints raise their ugly heads at nearly every port on our West Coast as volumes are on the rise. The announcement of the union’s intensions come on the heels of the East Coast ports continuing to set records for throughput and the Ports of Norfolk and Charleston see continued dwell times escalate. If I could paint a picture of the fall-out we would see should a strike occur, it would mimic what we saw on the West Coast during Covid, where 100’s of vessels were sitting off shore awaiting their turn to birth. We would see ocean and air rates climb overnight and capacity go to the highest bidder. We could see rationing of supplies at our brick-and-mortar stores nationwide. Something to remember, a strike -even for a week, will affect imports and exports for months. Negotiations are ongoing and it’s still a month away so anything can change, but rumors have it that the two parties are miles apart in negotiations. The unions are looking for a significant increase to what the ILU unions saw on the West Coast. Having said all of this, I want to point out that this is an election year. I try to leave politics out of my articles, but it wouldn’t shock me to see the current administration take a very close and active role in the negotiations as we get closer to the polls. India is about to go through a major port strike. The port workers are calling it the “infinite port strike” throughout India. Let me be clear, this strike will effectively bring ocean traffic to a standstill through the entirety of India. Loading and unloading of containers cargo will halt and it’s expected to take place on the 28th of August. Now, most of you will say this will have no effect on your supply chain, but you’d be wrong. It’s important to know the short and long-term effects of a national strike. First there’s the financial aspect. Should strike occur, what kind of economic impact will be felt by the suppliers who are only paid upon the shipment leaving the country? Or the banking system releasing funds to the manufacturers as they reach each milestone. Many importers have switched their manufacturing to places like India to reduce their dependence on places like China in order to avoid the section 301 tariffs. So, if there is a lasting strike, manufacturing could potentially grind to a halt. It’s also safe to assume that congestion and equipment at the ports will linger for months, this coming as India is already suffering from equipment issues, especially for 20’ft containers. We also need to look at the surrounding neighboring countries. How will a strike impact their throughput? Will carriers simply bypass India? Will importers look at altering their short-term orders back to their previous manufactures? Most imports from India are trans-shipped in places like Singapore or Sri Lanka. How does a strike impact their financial and labor practices? Best case scenario, there’s no strike. Second best, it’s a short-term strike and we get back to normal in a short timeframe. Worst case, it’s a long dragged-out battle between the laborers and the port owners. Congestion is being felt nationwide. Nowhere worse than what we are seeing at the ports of Tacoma and Seattle where birth to rail dates have grown from 2-3 days to over 20 days on average. This congestion is fueled by the growing number of imports due to the time of year and holiday importing to the growing speculation of the East Coast strike just to name a few. Congestion during peak season has become common place, however, it’s important to know the figures aren’t getting better and won’t for some time. With the many other threats affecting the ocean market it’s safe to assume we will see congestion increase and last longer into the fall months than in years past. CONTINUED ON PAGE 142

THE DISTRIBUTOR’S LINK 107 Inc. revealed today that Goebel Fasteners, Inc. ranks No. 1340 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000. “It’s an absolute honor to be recognized on this prestigious list alongside the world’s leading companies and thought leaders,” said Christian Reich, CEO and President of Goebel Fasteners, Inc. North America. “Our consecutive years of growth are a testament to our highly talented employees, ongoing product innovation, and our dedication to delivering value to the world’s most recognizable enterprises. This achievement reflects the relentless dedication and hard work of our entire team. We are committed to continuing our growth while maintaining the highest standards of excellence in the fastener industry. We look forward to progressing even further in the coming years. Goebel has achieved significant growth via strategic product launches, market expansion, and a relentless drive to become the industry leader in engineered blind fastening solutions. Every day our customers trust us to provide quality product solutions paired with unparalleled customer service to support their largest enterprise applications. Our driving mission is to work hard every day to make Goebel Fasteners the top trusted brand in the industry by providing quality products, excellent customer service, and innovative solutions.” The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median threeyear revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years. Goebel Fasteners, Inc. is one of the nation’s fastest growing fastener companies specializing in engineered blind fastening solutions. The North American operation was founded in 2017 and has rapidly grown to become the Leading Rivet Source selling through distribution to provide supply chain resilience and value-added services. As a subsidiary of the Goebel Group founded in 1979 in Erkrath, Germany, the brand continues to grow worldwide as a top supplier of joining elements and innovative solutions. Considered specialists in the development of innovative and high-quality joining elements and corresponding processing systems, their friendly and experienced staff, representatives, and distribution partners take care that customers are satisfied and actively support the entire supply chain as well as value chain. Contact Goebel Fasteners, Inc. by Tel: 713-393- 7007, Fax: 713-393-7084, email: sales@goebelfasteners.com or at www.goebel-fasteners.com.

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