Weather events and port issues have caused major disruptions in the global supply chain. Tom Merritt gives us five ways to deal with it.
Global supply chains are in shock. Port shutdowns, volatile and unpredictable buying patterns, unfortunate weather events, fires and more, thrown the system well out of whack.
SEE: IT expense reimbursement policy (TechRepublic Premium)
It won’t last forever but it won’t end soon.
So here are five tips for dealing with supply chain disruptions.
- Be flexible. Have backup plans for your backup plans when unexpected disruptions happen. I can’t tell you what disruptions will happen and when, but it’s a pretty good bet there will be disruptions. It might be wise to maximize for continuity not revenue, for now.
- Adapt to customer preference now. Harness your data and overall trends to change the way you think about what products you make available. Pre-2020 sales trends are of limited use in predicting current demand.
- Plan ahead. Order what you’re certain you need earlier than you think you should. Work with suppliers more than you think you should to make sure they have continuity and backup plans. And manage customer expectations.
- E-commerce will probably remain high. Try to get ahead of the pressure on fulfillment. If you can stop having separate channels for store and e-commerce fulfillment, make it happen.
- Get ready for returns. Reduced availability means more people will make pressured purchases online where they can’t see exactly what they’re buying. Get prepared for returns, so you can get them back on the shelves and up for sale fast.
Now more than ever adaptability and flexibility are in demand.
If you want more info and advice be sure to read Esther Shein’s article, Global supply chain issues will impact the holiday shopping season.
Subscribe to TechRepublic’s YouTube channel for all the latest tech information and advice for business pros.
Cybersecurity Insider Newsletter
Strengthen your organization’s IT security defenses by keeping abreast of the latest cybersecurity news, solutions, and best practices.
Delivered Tuesdays and Thursdays
Also see
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
