The Federal Trade Commission (FTC) on Monday requested Amazon, Walmart, and other large wholesaler companies and suppliers to turn over information that would help study the case of supply chain disruptions, as well as record-high prices in the market.

The four members of the FTC unanimously voted on Monday to launch the inquiry on the supply chain disruption, The Hill reported. The said inquiry will give 45 days from the date they receive the order to respond according to their requests.

Aside from Amazon and Walmart, Kroger and other wholesalers like C&S Wholesale Grocers, Inc., Associated Wholesale Grocers, Inc., McLane Co., Inc., will receive the order, USA Today reported.

Suppliers including Procter & Gamble Co., Tyson Foods, Kraft Heinz Co., are also required to turn in information

FTC's Supply Chain Inquiry

The FTC's study aims to find out if the supply chain disruptions will lead to negative impacts such as "leading to specific bottlenecks, shortages, anticompetitive practices, or to rising consumer prices."

"I am hopeful that the FTC's new 6(b) study will shed light on market conditions and business practices that may have worsened these disruptions or led to asymmetric effects," FTC Chair Lina Khan said in a statement.

Khan also explained that the supply chain disruptions are "upending" the delivery of a wide range of goods including meat, computer chips, medicine, and lumber.

To push through with the study, the FTC required the said companies such as Amazon and Walmart to give details on the "primary factors" that affect their company's ability to "obtain, transport, and distribute their products."

The said companies were also required to give specifics on the impact of disruptions in terms of delayed and canceled orders and increased cost and prices. Moreover, the companies are also expected to provide details on the affected products, suppliers, and most affected inputs.

Furthermore, the companies should also reveal the steps they are taking the supply chain disruptions, and how they allocate the products in their store when they are in short supply.

The FTC also asked the companies to provide internal documents about the supply chain disruptions, and strategies related to supply chains, costs, marketing, profit margins, pricing, sale volumes, and selections of suppliers and brands.

Joe Biden Hosts Meetings with CEOs Over Supply Chain Issues Ahead of Holiday Season

The request of the FTC on companies like Amazon and Walmart came as President Joe Biden hosted a meeting with CEOs to discuss the supply chain issues and inflation during the holiday season.

The technology sector was represented by Samsung CEO KS Choi and Etsy CEO Josh Silverman. The grocery sector was represented by Food Lion President Meg Ham, Kroger CEO Rodney McMullen, and Todos Supermarket CEO Carlos Castro.

Walmart CEO Doug McMillon and CVS Health CEO Karen Lynch were also in attendance virtually. Meanwhile, other CEO present are those of Mattel, Best Buy, and Qurate Retail Group.

President Biden said that he wanted to hear from the CEO how prepared they are to have the products on their shelves and how they "innovated" to address the supply chain challenges.

The president also asked the Walmart CEO about the improvements in the rate of their goods' flow in the ports in the aftermath of the administration's response.

McMillon said that Walmart saw at least a 16 percent increase in the ports nationwide in the past four weeks. The CEO added that they have a higher rate of increased flow in Los Angeles and Long Beach port, with at least 51 percent.

President Joe Biden was expected to deliver remarks on how his administration will address the supply chain disruptions.

However, a White House senior official said that the remarks of the president were moved until Wednesday as the chief executive wants to have "ample time" spent with the business leaders.

This article is owned by Latin Post.

Written By: Joshua Summers

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