The COVID-19 pandemic has tremendously impacted the global supply chain. With very little inventory in the pipeline, the production of items became very lean.
Recently, the demand for products has increased over time as consumers started to want and buy more. With vaccine rollout, it is without a doubt that people will want to go out more for the upcoming holidays.
Although there is one problem – the supply chain can’t keep up with the demand.
It’s safe to say that the following reasons are just some factors into the delayed population of inventory production:
- Consistent lockdowns that occurred before the rollout of vaccines
- New COVID-19 protocols and paperwork resulting in fulfillment backlogs
The Christmas Comeback
Looking back at what transpired a year ago where people barely went out to gatherings, no one could ever guess how the 2021 holidays would be quite different.
With COVID-19 cases controlled, people are finally making a holiday comeback where they start to gather with their loved ones and even resume their Christmas shopping. Thus, ecommerce sales are on a rise compared to where it was last year.
Indeed, product demand will continue to become a driving optimism for businesses. But, the supply chain might bring in challenges for both entrepreneurs and consumers.
But remember – there’s nothing that planning can’t fix. Our team at Clearinity wants to make sure that you have the perfect solution to supply chain issues. We’ve prepared some tips to help you manage your supply chain this holiday season.
Holiday Supply Chain
According to statista, at least 39% of consumers in the U.S are concerned about stock-outs in the holiday season. Well, they are not wrong for feeling this way.
While people are starting to get in touch with their festive spirit, the delay in the supply chain is becoming highly evident. As mentioned, the pandemic has played a huge role as many industries back then were forced to:
- Hold off production due to lockdowns and illnesses
- Reduce production due to low demand during that time
These resulted in a drop in industrial production.
While industries today are starting to recover, the supply chain is still currently affected. With countries emerging from lockdowns they’ve experienced in the past, the demand for products is also increasing and expected to exceed levels from the pre-covid era.
Tips To Manage Your Supply Chain Holiday 2021
With the holidays fast approaching, your brand must begin and prepare for another year of record breaking ecommerce sales. Remember that it’s never “too soon” for you to begin your holiday inventory preparations.
As early as now, you must plan for the critical elements ahead of time and break through supply chain disruptions with these tips.
Stock Your Inventory Strategically
As an ecommerce company, your business should be very strategic when it comes to both your fulfillment and shipment workflows. Failing to do so might cause your business to be at its breaking point, and you might risk experiencing more challenges in your supply chain
Build Relationships With Your Vendors
Here’s a vital strategy you can apply to your business – build strong relationships with your vendors. Partner with experienced professionals in your industry, as they have an in-depth understanding of your market.
Strong partners also result in robust core business functions. While you grow into your relationship with your vendors, you gain the opportunity to leverage various operational efficiencies which can guarantee long-term benefits for your business.
Test And Prepare Your Technology
You must test your systems ahead of time to ensure it can withstand any external variables during peak traffic. Doing this will prevent problems such as failed online payments, which can risk your business losing potential customers.
As early as now, begin to assess both your front and back-end customer experience to ensure everything about your systems works seamlessly. Apply this strategy to your business and you can guarantee more traffic that will bring your business success.
Improve E-Fulfillment
It’s the holiday season! Without a doubt, your customers would love to get their hands on their orders as soon as possible. With that being said, your business must focus on the speed of your fulfillment to guarantee happy and satisfied customers.
Do this by optimizing the proper tools and systems that will help you manage and track your products in real-time.
Manage Your Customer Expectations
To successfully manage your supply chain, you must never forget to align with the expectations of your customers. Ensure that you have a seamless process in place to track product orders so that your customers can receive their products on time. Always build transparency between you and your customers to help you build customer loyalty.
While you may feel overwhelmed while mastering the art of grace during this peak season, don’t forget to hone your relationships with your customers. Successful interactions can bring long-term benefits for your business, helping you scale your brand better.
The Bottomline
Although it may seem as if your business is in a holiday crunch season, there’s still absolutely enough time to prepare your inventory for seasonal goods. Don’t allow your business’ financial well-being to be affected by the supply chain threats. Manage your inventory as early as now.
Our visionary team of experts wants to ensure your business with solid supply chain management for the holiday season. We want to set you up for success.