It’s a vicious cycle of supply, demand, and the lack of resources to keep up. Over 50% of supply chain experts do not foresee a return to business-as-usual until the first half of 2024 or even beyond that.
CLEARWATER, Fla. (PRWEB) February 14, 2023
It’s not over yet. COVID-19 and the supply chain crisis are tenacious, maintaining their vice-like grip on the economy, and everyone is still paying the price — literally. Fingers point to COVID lockdowns, skilled labor and trucker shortages, and even a scarcity of shipping containers. It’s a vicious cycle of supply, demand, and the lack of resources to keep up. Adrian LaTrace, CEO of Boyd Industries, the market leader in the design and manufacture of innovative dental and medical operatory equipment, admits, “Even our company was affected in 2021, which caught many of our loyal clients by surprise. Although some delays were incurred, we were able to complete shipments when others in our industry could not. We know the frustration practices face when dental procedures need to be postponed. We appreciate the loyalty of our clients, and we take pride in doing everything in our power to mitigate these global challenges.”
KN95 and N95 disposable masks and other standard PPE in the medical industry became a hot commodity among the general population. Naturally, prices for medical supplies increased rapidly. In an article published by the New York State Dental Association (NYSDA), Burke Spielmann, general manager at Henry Schein subsidiary TDSC.com, has seen that even with the demand for PPE stabilizing, prices have not. Before the pandemic, dental practices spent an average of 5.5% to 6.0% of their revenue on dental supplies. As of 2022, spending has increased to an average of 8% to 9%. (1) Medical providers started to hedge their bets by aggressively ordering supplies fearing they might run out of stock. This contributed to shipping delays caused by a supply-chain gridlock, which continues to inflate prices.
It's the little things that can cause a significant jolt to global manufacturing, like a shortage of foam. The pandemic brought about a wave of people refurnishing and creating at-home offices, increasing demand during a time of slowed production. Then in 2021, Winter Storm Uri hit the southern states of Texas and Louisiana, greatly damaging facilities that produce the chemical ingredients for foam. (2) Furniture suppliers and other industries that depend on foam in the manufacturing of their products experienced problems along every step in the supply chain.
LaTrace explains, “Despite the volatility of today’s global supply chain, Boyd Industries has been able to better manage its lead times because of the company’s U.S.-based factory and North American supply base. Boyd’s factory fabricates steel, plastic, upholstery, wood, and many other components used in its products. The capability to directly manage much of the product content internally allows the company to maintain lead times to under eight weeks.”
When will the shipping crisis end? While West Coast ports have seen some improvement, the global supply chain disruption may continue to endure for years due to economic upheaval, persistent inflation, and international tensions. (3) A recent survey of supply chain executives by Carl Marks Advisors, in partnership with SupplyChainBrain, found that over 50% of supply chain experts do not foresee a return to business-as-usual until the first half of 2024 or even beyond that. Twenty-two percent of respondents were slightly more optimistic, predicting disruptions to continue until the second half of 2023. Much of the uncertainty is predicated on the consequences of the ongoing war in Ukraine and continuing labor shortages. (4)
LaTrace maintains that “As a ten-time winner of the Townie Choice Awards, which celebrates the best in the orthodontic dental industry, we emphasize providing service to our clients whose passion is exceptional patient care. We achieve this through our commitment to quality and promise to deliver the most reliable dental equipment on the market today.”
He adds, “Boyd Industries is not about being the fastest or the cheapest. Our commitment is leveraging 65 years of design and manufacturing expertise, experience, and integrity to consistently provide the highest quality and state-of-the-art dental equipment. Our team works directly with doctors and their staff to customize our products and create unique environments that meet our clients' tastes and functional requirements.”
Built to last. Built for you. Built by Boyd.
About Boyd Industries
For 65 years, Boyd Industries has been the innovative market leader in the design and manufacture of dental and medical operatory equipment. Their high-quality and reliable equipment has been the choice of dental specialty practices and dental surgery offices. The rapidly expanding Ear, Nose, and Throat market now seeks its reputation for quality and innovation. Boyd equipment is specifically designed to provide maximum practice productivity while incorporating ergonomic characteristics for the doctor, staff, and patient. As an original equipment manufacturer, they use a vertically integrated approach to ensure their process meets high-quality standards. This approach allows Boyd to control each step of component fabrication and product assembly. Boyd’s products include a full line of dental exam, treatment and surgical chairs, dental delivery systems, LED exam and surgical lighting, custom sterilization and storage cabinetry, doctor or assistant seating, and other accessories. Boyd was named the Senate Small Business of the Week in November 2020 and is a ten-time winner of the Townie Choice Award for excellence in orthodontic operatory equipment. Built to last. Built for you. Built by Boyd. https://boydindustries.com
References:
1) Jeremy Booth, Dental Tribune International. “Supply Chain Crisis Increases Dental Costs.” Dental Tribune International, 6 Jan. 2022, dental-tribune.com/news/the-bullwhip-effect-supply-chain-crisis-increases-costs-for-dental-practices/
2) Aarons, Jared. “In-Depth: US Furniture Stores Face Foam Shortage.” ABC 10 News San Diego KGTV, ABC 10 News San Diego KGTV, 27 July 2021, 10news.com/news/in-depth/in-depth-us-furniture-stores-face-foam-shortage
3) “When Will Supply Chains Return to Normal?” RetailWire, 25 July 2022, retailwire.com/discussion/when-will-supply-chains-return-to-normal/.
4) “Supply Chains Unlikely to Stabilize until First Half of 2024 or beyond, According to New Survey by Carl Marks Advisors and Supplychainbrain.” Business Wire, 11 July 2022, businesswire.com/news/home/20220711005117/en/Supply-Chains-Unlikely-to-Stabilize-Until-First-Half-of-2024-or-Beyond-According-to-New-Survey-by-Carl-Marks-Advisors-and-SupplyChainBrain.
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