By Farrukh Imran, Zongheng Mo
& Sylvia Hove
— New Jersey is ranked the top 4th wealthiest state in the nation, yet New Jersey’s poverty levels and food insecurities surpass the Northeast averages.
According to America’s health rankings, New Jersey ranks 8th in the country for food insecurity, with 8.3% of households unable to provide adequate food for one or more household members due to lack of resources (America’s Health Rankings, 2023).
An estimated 2 million people are food insecure in N.J., with one in five children living in poverty, 8% of seniors (60+) live in poverty, and 9.8% are food insecure (Table to Table, n.d.).
Food insecurity has skyrocketed, especially in counties served by Table to Table, an organization that fights hunger while reducing food waste. Recent price hikes due to inflation have affected these communities immensely. (Table to Table, n.d.).
Companies are using discovery technology that employs AI and machine learning to map sub-tier supply chains for critical products.
According to Gartner, “Eighty-two percent of CEOs in supply-chain-intensive industries plan to increase investments in digital capabilities across their enterprise. Why? To support new business, improve supply chain process efficiency and productivity, enhance decision making and improve resiliency/agility amid ongoing supply chain disruption.” (Gartner, 2023)
The government implemented an Inflation Reduction Act which provides tax credits and rebates to businesses and individuals. (U.S. Department of Treasury, 2023) The Inflation Reduction Act caps prescription drug costs for hundreds of thousands of New Jersey Medicare beneficiaries, (Centers for Medicare & Medicaid Service, 2023).
The FY2024 budget includes 20 tax cuts for working and middle-class families and seniors, (State of New Jersey Office of the Governor, 2023). While each of these items are a good start, they need to be extended and coupled with increased digital investments (New Jersey Chamber of Commerce, 2023) to meet the needs of our local businesses and ensure New Jersey benefits from the latest round of incentives from the CHIPS Act, (U.S. Department of Commerce, 2023).
As New Jersey emerges from the shadow of the pandemic, the ongoing supply chain crisis threatens to create another unbearable burden on residents, especially those from low-income backgrounds. Collaboration between companies and local governments offers hope for a more resilient and responsive supply chain system. It is imperative that New Jersey residents remain engaged and advocate for comprehensive solutions to this crisis, as they continue to grapple with its consequences in the aftermath of the pandemic.
— Rutgers University students