A good steady supply chain is going to be invaluable for your business, and you will want all of your supply chains to run smoothly and without any trouble. After all, if the supplies are coming in then your products and services can go out! However, every business supply chain has its kinks and you need to work to get them unkinked in order to keep sharing your goods and services with the world.
If your business supply chain has some issues, then you need to get them fixed, and here are some of the best ways to do it!
Communicate And Build A Relationship With Your Suppliers
Often it is not what you know but who you know that can solve most of your business-related problems. If you focus on building your relationships with your suppliers. Then you can ensure that they feel good about your business and will often be responsive about issues. They are getting your product set up. They don’t want to lose sales any more than you do, and if you’ve spent time communicating with them. Then they can reach out and communicate with you when things go wrong.
Look For Backup Companies
While you might love your supply chains and suppliers as they are now. Sometimes they can be disrupted due to massive events. Weather events such as floods and fires, geo-political issues such as wars and embargos, and pandemics. Also, other world events can sometimes put a stranglehold on or even shut down your existing supply chains.
So your company isn’t sunk whenever something unforeseen and unpredictable hits the world and causes your supply chains to be cut. You need to build resilience into your campaign and ensure that you can weather any disruptions. One way to do this is to ensure that your supply chain has backup vendors. Who can take over for the main ones if needed?
Additionally, you can work with backup logistics companies as well, just in case, your originals start to go down. You might not need a backup company right away. But it is better to have them on call if you need them.
Use Demand Planning And Data Analysis
One of the reasons that you don’t want your supply chains to start to go downhill is that you don’t want to start losing out during periods of high demand. Your business needs to ensure that it can withstand periods of very high demand for your products and services, and you should be looking at your sales data to see when your products sell the best. That way you can start to buy more during periods of low demand in order to stock up for periods of very high demand. That way you aren’t putting a ton of strain on your supply lines and also not running the risk of having stockouts.
Work With A VMI (Vendor Managed Inventory) System
A VMI system puts the vendor of a particular item or brand in charge of their brand in your store. So instead of you having to order these specific items constantly. You can instead order them directly from the brand’s vendor itself. Because they have a lot of interest in keeping their product on your shelves. They will work to analyze when their items are being bought and will automatically order enough to keep you in stock with them.
If you find that you are constantly over or under-ordering a certain brand’s supplies. Then you might want to hand the management over to the vendor of that brand itself. Vendor managed inventory services are the best way to ensure that your supply chain always keeps flowing enough to keep you in stock.
Work To Improve Efficiency
Finally, take a look at everything related to your supply chains. Look at how your supplies are delivered to you, where they go, and how many stops they make en route to you. Then the potential problems your supplies could have en route to you. Then look at where the process could be much more efficient or where problems could arise along the way. Try to incorporate efficiency and attempt to mitigate the problems.
That is the best way to ensure that your supplies are getting to you. And that you are also making sure that your process will work as best as it can. By analyzing your supply chains you can learn to improve them, which will only improve your business.