(RightWing.org) – Science Direct published a report a few years ago lauding the benefits of capitalism, noting the economic system led to a standard of living that is “unparalleled in human history.” It also stated “ingenuity” is capitalism’s “bedrock principle.” Walmart recently exemplified that idea through its ingenious way of bypassing the current supply chain crisis.
In the wake of rising supply-side issues, Walmart executives decided to charter their own ships to ensure timely delivery of its merchandise to its distribution centers and retail stores. On Tuesday, November 16, the company discussed that strategy at the same time it released its third-quarter earnings report.
Walmart Bypasses Supply Chain Crisis, Sees Revenues Rise https://t.co/XcglUIYNBf pic.twitter.com/EVErGdZ5Ca
— Daily Wire (@realDailyWire) November 17, 2021
By hiring its own shipping companies, Walmart said it could reroute overseas products to less congested ports. The company also said it extended dock workers’ hours overnight to help them unload cargo faster.
The plan appears to be working for the retail giant. Walmart reported it enjoyed much-needed increases in sales the last few months due in large part to its ability to bypass the inflation created by supply chain backlogs.
According to Walmart’s third-quarter report, its year-on-year sales increased more than 9%. That rise led to an overall increase of more than 4% in total quarterly revenue or roughly $140.5 billion in earnings.
Fortunately, Walmart is up to the challenge of providing the products Americans need since the Biden administration doesn’t seem to have a clue how to battle supply shortages and runaway inflation.
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